The general guide to insurances in Switzerland

Since insurance is a topic where I have some knowledge I allow myself a longer answer

Life insurance makes sense only if you are worried what would happen to your family if you die. (Which is a reasonable concern to have if you have kids) Then you should buy life insurance without any savings component (Risikolebensversicherung). It’s like a bet. You pay a certain amount of money every year and if you die, your family gets a chunk of money. If you live, nobody gets anything.

By the way insurance agents always try to include some savings component in the life insurance which is definitely not the optimal solution for mustachians.

@julianek is of course right. If you have enough money aside you shouldn’t worry about what would happen to your family if you die.

Household insurance is not mandatory. Some landlords request an insurance, but they request private liability (Privathaftpflicht) and this is because the private liability covers damages on the house (Mieterschäden).

Mandatory Insurances in Switzerland are:

  1. Basic health insurance (BVG)
  2. liability insurance vor Vehicles (cars, motorcycles, boats, e-bikes with licence plates) if you own one
  3. Building insurance for fire and natural damages (if you own a building) in most of the cantons. (In GE, TI, AI, VS it is not obligatory. In theses 4 Cantons and in UR, SZ, OW you can buy the insurance wherever you like. In the rest of the cantons you are obliged to buy from the cantonal building insurance.)

I really like this approach! This is also according to me the best approach.

If someone is thinking about insurance, the first thing he should be clear about is how much risk he would like to/he can curry himself.

According to the approach above you can optimize the following way. If you decide that you don’t want/can’t curry the risk of all your belongings being lost (by fire or elsehow) but you are willing to curry a risk of eg. CHF 5’000 you
a) remove all extra coverages (Einfacher Diebstahl etc.) and
b) you increase your deductible to 5’000. This has a huge effect to the premium! (Insurance agents don’t like the high deductibles exactly because they have such a huge effect on the premiums but they do exist if you insist)

This is partially true. If you get sued for something that your private liability would cover, then they will also take care of the legal case.
Example: your landlord sais that when you left the apartment you left him with big damages. You don’t accept it and don’t pay anything. He sues you. The private liability will cover also the legal costs since they would also cover the costs for the damages of the apartment.

But there are cases when you have to take legal actions. Example: Your employer fires you. You believe it’s not justified and want to sue him.

Generally a legal insurance is mostly needed when you want to take legal steps against someone else.

So what insurances do I suggest?

Healt:

  1. The basic with the higher deductible and a telmed model on the cheapest (or one of the cheapest) health insurers
  2. Complementary health that would offer better coverages (halbprivat / privat) for serious illnesses. There are products that are quite cheep with high deductibles (Check out myFlex form CSS for example)

Vehicles (cars, motorcycles, boats, e-bikes with licence plates):

  1. Liability. Go to comparis (since mandatory, there are not big differences). Try to optimize in terms of deductible and added coverages (z.B. Bonusschutz).
  2. If you can/are willing to carry the costs of repairing/renewing your car after an accident, you don’t need anything else

House/Living:

  1. Private liability especially if you rent or ride a bike. By riding a bike you can have an accident with someone else which could result to health care costs which can be dramatically high
  2. Household if you don’t want/can’t curry the risk of all your stuff at home being gone and having to replace them. Here you can choose high deductibles (there are deductibles as high as 2’000 to 5’000 which have a high effect on premiums) and remove all added coverages like “einfachen Diebstahl”. (Then of course you carry your cost on your own)

Legal insurance:

This is a difficult one. Legal cases can be really cost intensive and sometimes you have to do them. On the other hand there are limits on the amounts an insurance would pay (usually up to 100k/200k) and such legal cases are definitely seldom. Also a lot of legal cases are not included in the coverage (like divorces). So probably not a suggestion but ypu can think about it.

What insurances I do have? (Quite a lot since I work for one)

Health, car, houesholde and Private liability as described above.
I also habe Legal protection but am thinking of canceling it.
And finaly I have travel insurance. This is because of the convenience and not because I can’t bear the risk.
But as (kind of) mustachian I book my vacations ridiculously early in order to get good rates. By having two kinds I here and there have to cancel. My balance with this insurance is positive till today which means I received more money than I paid.

By the way, since talking about travel insurance, if you want one then by one with a yearly premium from a big insurer if you go on vacation at least 2 times a year. It less expensive and has better coverages than the insurances that are offered per trip.

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Awesome stuff. We need to convert your post into a wiki page guide for Mustachian insurances in Switzerland.

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I thought this was covered by the “Velovignette” but I just learned that it was discontinued in 2012, like right when I stopped riding my bike (because I live walking distance from work). I feel old now.

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Your answer reminded me that third party liability insurance is obligatory for every kind of vehicle.

So there are not only cars that needs a third party liability but also motorcycles, boats and fast e-bikes (there are e-bikes that are so fast that they need a license plate. If you need a license plate for your e-bike you also need a third party liability insurance)

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I found this post by @a2ithaka and thought it’s a shame that it did not have more visibility, so here we go :slight_smile:

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Do you have good experience with CSS? I moved to Switzerland but I am still a lot in Germany where I would also go to my docs. CSS seems to be a bit more expensive… thanks :blush:

I had a lot of trouble with CSS, they are expensive and their customer service was quite rude to me. YMMV

I am with ÖKK, they are mostly among the cheapest in every canton and their customer service is okay. They also do not take months to pay you back

I am happy with AXA.
Super responsive and quick with any cases.

I am with ÖKK, they are mostly among the cheapest in every canton

What? Not assura?

Assura is probably 20chf cheaper per month but then again … it’s Assura :slight_smile:

I had no problems till now with CSS. But also didn’t have any big treatments os bills. Just small bills for the kids. Till now everything fine for me.

When I moved form Germany I first war with Sympany. Since they are in Basel at home they had some very interesting packages if you are planing to go to the doctors in Germany. But this is something like 10 years ago. Can’t tell you if they still do.

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The abrevation behind the Basic health insurance is of course wrong :slight_smile:

Korrect is (for the german naming of the laws):
Basic health insurance (KVG)

(But I cant find how to eddit the post… )

what is your current insurances? if some people list them here, there might be potential for optimization :slight_smile:

I live in city of zurich, 30-35 y old, no family

  • 253/m health: Assura, CHF 2500 franchise, PharMed
  • 120/y Liability: Zurich, CHF 5M insured
  • 190/y household: Zurich, CHF 40k insured, chf 200 franchise
  • 74/y motorbike: Baloise, 1985’s Honda 500cc, catalog value CHF 6’500, “lowest settings” where possible

apart from the zurich insurance i believe this is quite the price-optimum of the market. i found combined offers at comparis starting at 130/y instead 300/y. if you have suggestions, let me know :slight_smile:

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Savings potential here. Check smile direct or Elvia.

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