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Insurance in Switzerland Guide

We wrote this Guide to Insurance in Switzerland with kind help from Allianz General Agency Laurent Ischi - to simplify Swiss Insurance Basics.
We recommend Allianz to IMMO RELOCATION members. Here's why:
  1. They offer special rates for our members (*)
  2. They're a trusted industry leader
  3. They provide great service in French, English, Spanish and Arabic
  4. They handle all insurances under 1 roof.




Personal Liability

Very highly recommended Covers :
Damage caused by you (or a member of your family living in the same home) to a 3rd party, in body or prop- erty (not incl driving related things).

Examples:

  • You leave the water running, and the flooding damages your rented place and your neighbour's apt.
  • You throw a football, and break your neighbour's window (or his nose)
  • You spill some milkshake at the McDo, and someone slips on it and breaks his leg

Important for renting apartments:
Most landlords / real-estate Agencies will insist you get a Personal Liability Insurance before renting a place to you.
Typical costs: CHF 300 / Year


Allianz Offers 20% off Personal Liability Insurance for Immo Relocation members.


Car / Motorcycle Insurance

3rd Party Liability (Mandatory for car / motorcycle owners):

  • Covers : damages your driving may cause to OTHERS (in property / body). Does NOT cover damages to your own vehicule.
  • Bonus system : many companies offer significant discounts (up to 70%) for drivers who don't claim damages from the insurance for a while.

Comprehensive Insurance (Recommended only if you have an expensive car):
  • Partial comprehensive : covers damages to YOUR own vehicle from theft, fire, natural hazards, & vandalism.
  • Fully Comprehensive : same as above, but also covers damages to YOUR own vehicle from collision with other drivers.
Driving Legal-Protection:
Covers legal fees related to your driving / owning a vehicle (ie, court disputes, garage disputes, etc)


Allianz Offers 20% off Car / Motorcycle Insurance for Immo Relocation members.


Household Insurance

Very highly recommended
Covers :
Damage caused by you or a member of family (same home) to a 3rd party, in body or property.

Examples:

  • You leave the water running, and the flooding damages your rented place and your neighbour's apt
  • You break (by accident!) the sink in your rented place

Important for renting apartments:
  • Most landlords / real-estate Agencies will insist you get a Personal Liability Insurance before renting a place to you.

Household Content:
  • Covers your household content (washing machines, Jewlery, etc) against damages caused by fire, water, & theft at home. Note : usually the Personal Liability Insurance & the Household Content Insurance are sold in one package / policy.



Legal Protection

Personal Legal Protection:
Covers legal fees related to personal disputes (not including family matters) in case of legal claims by / against you in Switzerland. In many cases, just mentioning you have Legal Protection Insurance may get the opposing party to back off. Example of cases covered:

  • Legal disputes with your employer
  • Legal disputes with service provider
  • Legal disputes with neighbors
  • Typical cost / year: CHF 300

Driving Legal Protection:
  • Covers legal fees related to your driving / owning a vehicle (ie, court disputes, garage disputes, etc) in Switzerland.
  • Typical cost / year: CHF 200


Allianz Offers Legal Protection for Immo Relocation members.


Tax Savings via 3rd Pillar fund

'3rd Pillar' is an optional pension fund (1st pillar and 2nd pillar are mandatory ones). You can put up to CHF 6566 into it each year.
It's highly recommended because:

  • What you put in it is 100% tax deductable (CHF 2000 / year tax saving, in average)
  • It offers attractive interest rates, so you get a real nice package at retirment
  • You can pull the money out before retirment if you leave CH, buy real estate, or open a business
Ask your agent about 3rd Pillar with a Insurance Company vs with a Bank
You can get 3rd Pillar with a an Insurance Company OR via a Bank, and the conditions are different. Ask your advisor for full details, but here's the short non-complete version: if you get 3rd Pillar with an Insurance Company then it includes Life Insurance and usually comes with a higher interest rate. But it also means that if you need to pull out the money before 5-10 years of savings, you'll be penalised more that with a Bank. So if know you'll be in CH for a short while only, you should consider the Bank option. If you think you might be here longer term, the Insurance-Company option might be more interesting. Ask your advisor for more de- tails.


Allianz Offers For more details about 3rd Pillar for Immo Relocation members.


Mortgages

From dream to reality.
Whether new build or renovation: Allianz Suisse is there to help you make it happen, from thorough analysis of your financing needs right through to reliable implementation.
When can you benefit from our services?

  • Are you thinking about purchasing an apartment or house?
  • Would you like to investigate alternatives to your existing mortgage arrangement?
  • Are you looking to protect your family against death and disability risks?
  • Are you also looking for a solution which will optimize your tax savings?
  • Are you familiar with the advantages of indirect mortgage amortization?
  • Are you looking for construction, buildings or household insurance?
Look at what you could achieve.
Attractive financing: Based on 20% equity, a first mortgage generally covers 65% of the financing requirement, while the second covers 15%.
Budgetable costs: Choose between variable and fixed-rate mortgage products. Our fixed-rate mortgage is espe- cially useful for ensuring longer-term budget certainty.
Tax benefits: Mortgage interest can be deducted from taxable income, as can the premiums for an amortization policy (pillar 3a). The deductibility of the mortgage loan means that your capital tax payment will also be lower.
Security: The financial strength of Allianz Suisse, backed by the prominent Allianz Group, is the ideal foundation on which to build your home.


Allianz Offers For more details about Mortgages for Immo Relocation members.