House insurance in Switzerland

Your home is something special and it is therefore important to have the right insurance if the water pipe breaks or the storm rages with destructions to follow.

The house insurance’s coverage in Switzerland
A house insurance in Switzerland is divided into multiple coverage areas. Those are: building fires, damages by water and pipe leaks, glass damages and so-called elementary damages (floods, avalanches, storms, hail and earthquakes).

House insurance in Switzerland can be divided into two
The requirements for the house insurance in Switzerland are different depending on where the property is located in Switzerland. In the so-called GUSTAVO cantons (Geneva, Uri, Schwyz, Ticino, Appenzell Innerrhode, Wallis, Obwalden), the house insurance must be taken out through a private insurance company. In the remaining 18 cantons, the house insurance is divided into two units. Fire and elementary damages must be taken out with a public insurance company owned by the canton (monopoly) and the remainder in a private insurance company.

It can be difficult to grasp the house insurance market in Switzerland. If a person for instance have a house in Lausanne, two insurance providers are required. That is, a cantonal provider regarding fire and elementary damages, and a private insurance company for the remainder which could be coverage of damages by water, pipes and glass. Next to the canton of Lausanne you find the canton of Wallis; here, one can take out a house insurance through a private insurance company which provides a more transparent administration towards the policyholder.

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