How to get the best insurance in Switzerland?

Did you know that a Swiss resident spends a higher sum of money on insurance than any other EU citizen?

Insurances are a big deal in Switzerland, and people get multiple insurances, some due to compulsion and some for personal safety and satisfaction. A swiss resident can buy any insurance of their choice as long as they have a license from the Swiss Financial Market Authority (FINMA), which regulates Switzerland’s insurance companies.

Now let us talk about some of the insurances that are compulsory for all citizens:

First is Health insurance, which is a necessity for all Swiss residents. Anyone who arrives in Switzerland should acquire this within three months of arrival, whether it is an adult or a child. You can get different quotes from the online government health insurance quote finder platforms without any hassle.

Next is Accident insurance which covers both occupational as well as non-occupational accidents. For employed individuals, this is mostly taken care of by the employer, but for those not employed, they need to take out accident cover as part of their Swiss health insurance.

Then comes a Motor vehicle insurance mandatory for all drivers in Switzerland, covering at least the basic terms, including damage to others and the car. Next, we have Building insurance, which is mandatory for property owners in Switzerland to cover basic accidents such as fire, flood, natural disaster damage etc.

Last but not least, you need Unemployment insurance which is usually provided by a mandatory state program called AI/AVS/APG which generously provides you between 70-80% of an average salary when you are unemployed.

Apart from these compulsory insurances, there are many more optional forms of insurances that citizens often buy as per their personal needs.

These include but are not limited to dental insurance, Family contents insurance, Third-party liability insurance, Legal expenses insurance, Life insurance, Pet insurance, Travel insurance, etc.

There are also some commercial insurances that are necessarily required by businesses in Switzerland, such as building insurance and motor vehicle insurance, and some that they buy by choice, including Public liability insurance, Personnel Insurance, Cyber insurance, Commercial liability insurance, Expat insurance, and many more.

Comparis.ch is currently the most popular tool to search for quotes on all forms of insurance in Switzerland.

And for more information on insurances and their importance,  please contact us.

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