The right insurance for house and home.

In the majority of cantons, buildings insurance is mandatory to insure your home against damage by fire and natural disasters. Household contents insurance is strongly recommended to protect the belongings in your home – but this type of insurance is not obligatory in the majority of cantons. It is also wise to insure your mortgage so that you can remain in your home in the event of incapacity for work or bereavement.

It is mandatory to take out cantonal buildings insurance in the majority of cantons. The exceptions are the cantons of Uri, Schwyz and Obwalden, where buildings insurance is mandatory but is not regulated by the canton. You have to take out private insurance. By contrast, in the cantons of Geneva, Ticino, Appenzell Innerrhoden and Valais, there is no requirement for buildings insurance.

Cantonal buildings insurance usually covers the financial consequences of damage due to fire and natural disasters. Risks that are not covered include in particular damage caused by water and earthquakes, as well as broken glass and damage caused by small animals and pests. In this regard, it is worthwhile to cover the risks of earthquakes and water damage in particular with suitable supplementary insurance from the canton or a private insurance company.

To answer this question, you will have to consider the potential financial consequences of disability and death. Insurance for incapacity for work will cover your ongoing costs in the event of disability and maintain your standard of living, while whole life insurance will make sure that your mortgage remains affordable for the loved ones you leave behind by providing a reduction. Lastly, we recommend putting in place a comprehensive pension and retirement plan by the time you reach the age of around 50 so that you can stay in your home for the rest of your life.