Insurance in Switzerland

Insurance contractually covers specified financial consequences of a risk. A premium is paid, but exclusions, deductibles and benefit limits may still apply. In Switzerland, everyone required to have insurance must hold compulsory health insurance, often called basic insurance. It covers defined medical services, while policyholders pay part of the costs themselves. Supplementary insurance is separate from basic insurance. It can cover additional services, but is based on its own contracts and admission conditions. Accident insurance often depends on employment status and the extent of employment. If your work situation changes, check how occupational and non-occupational accidents are covered. Personal liability insurance covers many claims when an insured person causes damage to someone else. It is generally different from motor vehicle liability insurance, which is required for a registered vehicle. Household contents insurance covers movable belongings in the home, for example against certain damage from fire, water or theft. The exact cover is set out in the policy and its terms. Social insurance and pension provision cover, among other things, the consequences of old age, disability, death, unemployment or loss of earnings. In Switzerland, provision for old age and survivors is often viewed as a three-pillar system. Having more insurance does not automatically mean better protection. It makes sense to assess cover in light of possible losses, your ability to bear costs, legal obligations and cover you already have.