Switzerland is among the countries with the highest quality of life in the world: it has political stability, impressive landscapes and a high standard of living. The Swiss like to be prepared for any eventuality. So what insurance do you need when you move to Switzerland?
What is legally required?
Health insurance in the public or private system is compulsory. Only a few limited cases are exempted from taking out health insurance in Switzerland. You can find out how the system works in our Switzerland Health Insurance Guide.
Motor vehicle insurance for third-party damage is compulsory; for example if you cause an accident and injure someone, damage another car or someone’s property. Without insurance, a vehicle cannot be registered at the Federal Office of Transport. Comprehensive insurance covers you if your car is stolen or for the damage to your own car; advisable for newer cars.
If you are a homeowner, you must take out building insurance in certain cantons.
Highly recommended
Personal liability insurance is not mandatory, but it is nevertheless highly recommended. It covers all damage accidentally caused to others. For example, if the parquet floor in your rented apartment gets a big scratch or you spill coffee onto a friend's laptop. Personal injuries are also covered, in case you accidentally knock someone over while riding your bike or jogging. As costs can be very high if you injure someone else, it is worth taking out personal liability insurance.
Household contents insurance is strongly advised. It covers your personal belongings in cases like house fires, water damage or natural hazards, and loss or theft.
It’s possible to take out household contents and personal liability insurance as a combined product, which is normally cheaper.
Recommended
Valuables insurance offers protection for special objects such as jewellery, musical instruments or valuable furniture against loss, destruction or damage.
Life insurance may be provided by your employer as a benefit. Many people choose to get further cover to provide better security for partners and family.
The Swiss pension system (old-age and disability provisions) is relatively complicated: the best thing to do is to seek individual expert advice for your retirement planning.
For people who are new to Switzerland, getting personalised advice is recommended, some companies, such as Zurich have advisors who can help get the cover you need based on your personal circumstances and requirements.
