What is obligatory depends on the canton
In Switzerland, building insurance against fire and natural events is compulsory in the majority of cantons, often with a cantonal insurance establishment. In the so-called GUSTAVO cantons (Geneva, Uri, Schwyz, Ticino, Appenzell Innerrhoden, Valais and Obwalden), the rules are different: some require private insurance, others do not make it compulsory.
Concretely, an owner in Geneva or Valais is not in the same situation as an owner in a canton with a cantonal establishment. This is why you must check the canton, the type of property, the insured value and any bank or mortgage requirements.
What does building insurance cover?
- The structure of the building: walls, roof, floors, fixed installations, sanitary facilities, glazing or elements incorporated according to the contract.
- Fire and natural events: hail, storm, flood, avalanche, landslide or other events defined by law or police.
- Water damage: pipe leak, rupture, freezing or infiltration according to the conditions of the private insurer.
- Building glass breakage: windows, fixed glazing or sanitary installations depending on the coverage chosen.
- Consequential costs: search for leaks, clearance, clearance, provisional measures, loss of rent or replacement accommodation according to contract.
Do not confuse building, household and civil liability
Building insurance protects real estate elements. Household insurance protects your movable property: furniture, clothing, electronics, personal items. Private or property liability arises when a third party claims damage from you for which you are responsible as the owner.
Example: a leak in an embedded pipe can affect the walls and floors, and therefore the building. Damaged furniture is more a household inventory. If a lack of maintenance causes damage to a third party, the civil liability of the owner may be affected.
Options to consider
- Building civil liability: useful for rented buildings, PPE, properties not inhabited by the owner or situations not covered by private liability.
- Earthquake : often not or barely covered by basic cantonal protections.
- Loss of rental income: important if the building generates rents.
- Technical and energy installations: heat pump, solar panels, heating, cistern, fixed equipment.
- Insurance value: Particularly in cantons without a cantonal establishment, underinsurance can be costly.
For whom is this analysis essential?
- You buy a house, apartment or rental property.
- You are in a GUSTAVO canton and must choose a private insurer.
- You have renovated, expanded or modernized your building.
- You rent all or part of the property and want to check the owner liability.
- You want to compare your cantonal insurance, your private supplements and the requirements of your bank.
Finwise support
Finwise checks your canton, your ownership status, the value of the building, the coverage already in place and the risks not covered. We then compare useful supplements from Swiss insurers such as Zurich, Allianz, AXA or other relevant partners.
Our objective: clear protection, without unnecessary duplication, with a precise reading of what is covered, excluded or capped.