Household insurance: What you need to know!

Last Updated on 2 months by David Bergmann

Are you about to move to Switzerland or are you planning to move into a new apartment or house in the near future? Then you should definitely think about a home insurance. In this article, you’ll find out what household insurance is, which claims are covered and what you need to consider, when taking out insurance.

1. Household contents insurance vs. household insurance
2. Choose correct sum insured
3. What damage is covered by household insurance?
4. Excess fees and additional options
5. Tips for taking out household insurance

1. Household content insurance vs. household insurance

Before we dive deeper into the world of home insurances, let’s take a look at the difference between home contents insurance and household insurance. In Switzerland, these two terms are often used interchangeably, but there are subtle differences:

Household contents insurance: Household contents insurance covers all household contents. This means that it covers damage to all movable household items such as furniture, clothing, electrical appliances, valuables and personal belongings. It protects against damage caused by fire, water, burglary, vandalism, lightning or certain natural hazards (such as storms). In addition, glass breakage and damage to bicycles and sports equipment are often also insured or can be included as an option.

Household insurance: Household insurance is actually an umbrella term for all insurance policies relating to the home. This can include various types of cover, including household contents insurance and personal liability insurance.

Good to know: In addition to household contents insurance, there is also so-called “buildings insurance”. This covers damage to the house itself, i.e. to immovable objects such as masonry or floors, caused by fire, lightning, storm or water. This insurance is particularly relevant if you own a house.

2. Choose correct sum insured

One of the most important points when taking out household contents insurance is the choice of sum insured. The sum insured indicates the amount up to which your household contents are insured in the event of damage. It is crucial to set the right sum insured to avoid being underinsured or overinsured.

Underinsurance occurs when the selected sum insured is lower than the actual value of your household contents. In the event of damage, you will only be reimbursed for part of the damage. To avoid this, it is advisable to realistically assess the value of your household contents and set the sum insured accordingly.

Overinsurance, on the other hand, means that you pay unnecessarily high premiums because the sum insured is higher than the actual value of your household contents. To avoid overinsurance, you should regularly check your household contents and adjust the sum insured accordingly.

Tip: Even after taking out household contents insurance, you should regularly check the sum insured and have it adjusted if necessary. For example, after major purchases such as a new television, valuable jewelry or paintings.

3. What damage is covered by household insurance?

Household insurance offers protection against a wide range of losses. Here are some of the most common ones:

– Burglary: If your apartment or house is the victim of burglary, household contents insurance covers the damage to stolen or damaged items.

Attention: A distinction must be made between burglary and so-called “simple theft”, where the perpetrator does not have to overcome any obstacles (e.g. locked doors). This form of theft is usually not insured!

– Fire: Damage caused by fire, whether due to a short circuit, defective heating or other causes of fire, is generally covered.

– Vandalism: If your property is willfully damaged, the insurance will take effect.

– Natural hazards: This includes floods, avalanches, landslides and other natural disasters. Please note, however, that not all natural hazards are automatically covered. Check your policy and add additional cover if necessary.

– Water damage: This is often complex and can be caused by mains water, burst pipes or flooding.

– Lightning strike: Damage to electrical appliances and other electronic devices caused by lightning, for example, is insured.

4. Excess fees and additional options

When taking out household insurance, you should always pay attention to the excess fee. This is the amount that you have to pay yourself in the event of damage before the insurance pays out.

A higher excess fee can lead to lower premiums, but also means that you will have to bear more costs in the event of a claim. So think carefully about what deductible is affordable and sensible for you.

Additional cover

In addition to the basic benefits, household contents insurance often offers various additional options or can be extended by other insurance policies. Here are some examples:

• Glass breakage: household contents insurance covers damage to windows, mirrors and glass surfaces that are part of the household contents.

• Theft away from home: This option extends protection to your valuables if they are stolen outside your home, for example when traveling.

• Comprehensive household contents insurance: If certain items such as electrical or sports equipment or valuables are (unintentionally) damaged due to incorrect use, the insurance covers the repair or replacement costs.

• Luggage: Your luggage is insured against loss, theft and damage when traveling.

• Bikes and sports equipment: Want to protect your e-bike or expensive ski equipment? This option also covers your sports equipment.

• Home Assistance: This option offers support in the event of emergencies in the home, such as a burst pipe or loss of keys.

Personal liability insurance

Personal liability insurance covers damage that you (unintentionally) cause to other people or their property and should not be missing from your insurance package. This insurance is often offered in combination with household contents insurance as “household insurance”.

Tip: Click here for the combined offer from our insurance partner AXA .

The selection of additional options depends on your individual needs. Think about what is important to you and whether it is worth taking out this additional cover.

5. Tips for taking out household insurance

Finally, here are some important tips to help you stay on the safe side when it comes to household contents insurance in Switzerland:

• Insurance at replacement value: When taking out household contents insurance, you should make sure that all items are insured at replacement value and not at current value. This means that you will be reimbursed for the actual acquisition costs and not the estimated value that a piece of furniture or other furnishing item still has at the time of the damage.

• Check the insurance conditions: Before you take out a policy, read the General Insurance Conditions carefully. Here you will find all the details on benefits, exclusions and obligations.

• Valuate your household contents regularly: The value of your household contents can change over time. Therefore, regularly check whether the selected sum insured is still appropriate.

• Watch out for natural hazards: Switzerland is susceptible to natural hazards such as floods and avalanches. Make sure that your household contents insurance covers these natural hazards if you live in endangered cantons.

• Document your household goods: Take photos of valuable items and keep a list in which you enter the value of each item. This makes it easier to settle claims in the event of damage.

• Gross negligence: Most household contents insurance policies cover damage caused by gross negligence. Find out about the exact conditions in your policy.

Conclusion:

In Switzerland, household insurance is an important protection for your belongings. Think carefully about which benefits and additional cover you need in order to be optimally protected in the event of a claim. With the right household contents insurance, you can face the financial consequences of burglary, natural hazards and other unexpected events with peace of mind.

Tip:

Would you like to take out household insurance with comprehensive cover at a fair price? Then let our insurance partner AXA to send you a free and non-binding quote. Click here for the inquiry form .

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