Here we recommend he protects himself with suitable insurance coverage. The electronic devices, the CD collection, books, sporting equipment and clothing are often worth more than you might initially think.
The parents' private liability insurance usually provides insurance coverage for children living in the same household until they turn 19. Insurance gaps can arise when they move out if not before. Make sure you stay financially protected if your child damages third-party property or injures somebody. For young adults under 25 years, we recommend the youth insurance, which also includes private liability cover.
The conclusion of a household contents insurance policy is strongly advised and is available for those under 25 as part of the youth insurance. The cost of furniture, kitchen appliances, clothing and electronic devices can quickly add up to several thousand francs. Fortunately, you can count on our financial support in case of damages caused by fire, water, theft or natural forces (storm, hail or flooding). In case of a claim, you will receive compensation with the value as new.
Have you already made purchases for the now empty children's bedrooms? As parents, you should review your home furnishings regularly and adjust their insured value where necessary. This way you are protected from reductions where there are cover shortages in case of a claim.
Mobile devices like smartphones, laptops or MP3 players are always with you and should therefore be protected with corresponding insurance coverage outside of the home too. With the youth insurance, these sorts of gadgets can be insured against damage or theft. This is so simple thanks to the additional insurances of «household content all risks» and «simple theft out-and-about».
Your children can quickly find themselves in disputes with the neighbours or the landlord, which can end in legal proceedings – even if they are not at fault. The resulting legal fees and court costs can be substantial. With the private legal protection as part of the youth insurance, your children get legal advice and financial support.
As a young adult, you may not be able to afford your own car until later on. It's therefore only practical if you are able to borrow a friend's car occasionally for outings, for a spin or bigger shopping trips. With the external driver protection, you can be insured against damages to borrowed vehicles and any potential loss of bonus. The external driver protection is a supplement to the youth insurance and the private liability insurance.
The state benefits in case of earning disability are very low for students and career entrants, and the same applies for benefits from the occupational benefit scheme – if there are any at all. This means that if the worst happens, your income will not keep pace with your expenditure. With private disability insurance or the corresponding additional insurance as part of the youth insurance, this gap can be filled.