Becoming a landowner in Switzerland involves varying needs in terms of safety, depending on everyone’s expectations. Owning real estate insurance is necessary and while the recourse to some are justifiable, others are less obvious, given the profiles. Knowing that Switzerland is one of the most expensive countries in terms of insurance, it is important to make a point on the subject to help you identify the most appropriate insurance for your case. You also need to be able to distinguish between the risks you want to protect and those you agree to finance on your own.
Basic property insurance
Property insurance is usually mandatory when you own land. If you live in the cantons of Geneva, Appenzell Innerrhoden, Valais and Ticino, know that it is not taxed, but it is highly recommended to subscribe to it at your cantonal insurance office. It should be noted that for the canton of Schwyz, Obwalden and Uri, the subscription will have to be done not by your canton, but by GVB Private Insurance SA for example. Once this basic insurance is underwritten, it will take into account the damage caused by natural and real estate damage. You’ll be insured for landslides, floods, fires, avalanches, hail, rockslides and storms, among other things. On the other hand, it should be known that the damage caused by earthquakes, even if it is a natural event, is not taken into account by this insurance, but by an insurance seismic. This explains the need sometimes to resort to additional insurance, to protect you according to your case.
Additional real estate insurance
When you are a landowner in Switzerland, we have seen that your compulsory insurance does not cover all possible damages. That’s why additional insurance has been created. It is then up to you to choose which to subscribe according to your needs and your expectations. For example, if you are afraid of being a victim of water damage not caused by floods or floods and you do not want to pay the damage out of your pocket, you will need specific insurance against water damage. It will work for problems of infiltration of rain, snow and oil leaks. For non-natural ice breakage – everything about windows and bathroom ceramics that you have broken in your home, you will need insurance against breakage. of ice. On the other hand, if you are clumsy and you break glass or ceramics at a friend’s house, you will need liability insurance to hope for repayment assistance. Then, in case you rent a property, know that a legal protection insurance will protect you in case of disputes with your tenant. Also think of building liability insurance in the event that one of your trees falls on the neighbor’s garage, because it will be your responsibility and not that of your tenant.