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Insurance

Insurance

In Switzerland a distinction is made between mandatory insurance, which is deducted directly from the salary (see: Social System) and additional obligatory private insurances eg. health, accident, car. The latter catergories are compulsory but the insurer may be chosen freely. Many other insurances are optional but useful to have.

(Compulsory) Health/Accident Insurance (see: Health/Insurance System)

(Compulsory) Car Insurance
Before obtaining licence plates for your car, it is necessary to show a certificate to the Road Traffic Licensing Department which proves that you have liability insurance from a recognised Swiss insurance company. This insurance covers liability to a third party. There are two kinds of optional damage insurance: full coverage and partial coverage. If you lease a car, you will have to take out a complete loss and damage waiver insurance policy. (For further information, see: Mobility)

Liability insurance for an individual or a family is not mandatory but strongly recommended and often requested by estate agencies and owners. It covers accidental damage to your home and its fittings and, especially if children are around, is a very worthwhile investment. Basic coverage is for material damage or bodily harm caused to a third person, and the premium is very reasonable.

Household insurance is not mandatory but strongly recommended and often requested by estate agencies and owners. Its coverage includes theft, water damage, fire and some glass breakage. You will need to provide an estimate of the value of your household contents. Your private insurer can inform you of the parameters of evaluation for your household effects. The premium is quite low.

Valuable item insurance can be taken out for jewellery, furs and private collections. An appraisal by a recognised expert is needed unless a recent bill can be presented. Insurance companies are very strict about this.

Life insurance is available under many different policies according to individual requirements. Benefits are either in payment of capital or annuities in the case of invalidity, old age or death. Policies are often combined with special savings plans and are useful as guarantees for bank loans. You can take advantage of a consulting and personal needs analysis free of charge from any insurance company.

Salary insurance covers your salary in the event of illness or accident. Premiums, the portion paid by employees, and the benefits paid, vary from one company to another. This insurance is not compulsory, as employers have to continue to pay salaries to employees who are ill or are victims of an accident anyway. This obligation on the part of the employer is, however, only for a limited time and employees can choose whether or not to take out this particular insurance for any additional period.

Legal insurance pays for some legal services if someone takes you to court or if you file a suit against another party. There are two kinds of insurance: for transport (motor vehicles, motorcycles, bicycles, public transport and pedestrians), and private (with coverage up to a defined amount for issues with regard to employment contracts, rental contracts, information on Swiss matrimonial and inheritance laws, etc.)

For further information and other insurances see www.svv.ch
or contact:
Schweizerischer Versicherungsverband SVV
(= Swiss Insurance Association)
C.F. Meyer-Strasse 14
8002 Zürich
Tel. +41 44 208 28 28
Fax +41 44 208 28 00
info@svv.ch
 

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