What is household insurance used for?
Household insurance, also called household contents insurance, covers your movable property: furniture, clothing, electronics, bicycles, sports equipment, everyday objects and personal effects. A simple way to understand: if you could flip your home, anything that falls out generally falls into the household inventory.
Swiss insurers such as Zurich or Allianz often compensate inventory at replacement value, that is to say the cost necessary to repurchase an equivalent item today, within the limits and conditions of the contract.
Is it compulsory in Switzerland?
In most cantons, household insurance is optional. However, it is mandatory for fire risks and natural events in the cantons of Vaud, Nidwalden, Friborg and Jura. In Vaud and Nidwalden, this coverage goes through the cantonal establishment; in Friborg and the Jura, you can in principle choose a private insurer.
Even when it is not obligatory, it remains strongly recommended: replacing complete furniture after a fire, flood or burglary can cost several tens of thousands of francs.
What coverage may include
- Fire and natural events: fire, lightning, storm, hail, flood or other events defined by the contract or cantonal law.
- Water damage: leak, rupture of pipe or connected device, according to the conditions of the policy.
- Flight: burglary, robbing and sometimes simple theft at home.
- Simple theft outside: often a useful option for bicycle, smartphone, computer or personal belongings outside the home.
- Broken glass, valuables, electronics: generally via extensions or specific covers.
The key point: the right amount of insurance
Too low an insurance sum can create underinsurance. In the event of a major loss, the compensation may then be insufficient to repurchase your property. The right amount should take into account the new replacement value of all your inventory, not just the current or sentimental value.
Household and civil liability: two different roles
Household insurance covers your belongings. Private civil liability covers damage you cause to third parties, for example if you damage the rented accommodation, break something in someone's home or inadvertently cause damage. The two are often subscribed together, but they do not cover the same situations.
Who is this important for?
- You move into an apartment or house.
- You live in a shared apartment and want to avoid unclear areas between roommates.
- You own bicycles, computers, instruments, sports equipment or valuables.
- You live in a canton where fire and natural events are mandatory.
- You want to check that your sum insured really corresponds to your inventory.
Finwise support
Finwise helps you estimate the sum insured, choose useful options, avoid duplication with other contracts and compare deductibles, ceilings and exclusions. Our goal: protection that's easy to understand and strong when you need it.