What does household insurance cover?
Household insurance covers all items you possess in your household, irrespective of whether they're purchased, rented, or borrowed. This coverage extends to items stored in your basement, attic, garage, and even your pets. For instance, if your dog were to be injured in a storm, the insurance can cover the costs.
The household insurance will generally insure your possessions at their replacement value. Therefore, while calculating the sum insured, take into account the new price of your belongings and avoid undervaluing them, which might lead to underinsurance. In instances such as cash stolen from your home during a burglary, the coverage limit will differ from provider to provider. Typically, most insurers offer protection of a few thousand Swiss Francs, beyond which a comprehensive household insurance policy becomes necessary.
Who should consider getting household insurance?
Although household insurance isn't mandatory in Switzerland it's strongly recommended for both renters and homeowners to secure coverage for their personal possessions. In the event of an unforeseen incident resulting in partial or total destruction of your household goods, you wouldn't receive any compensation for the loss without household insurance. This situation can rapidly become quite costly. Additionally, the so-called ‘GUSTAVO’ cantons (Geneva, Uri, Schwyz, Ticino, Appenzell Innerrhoden, Valais, and Obwalden) have special conditions on how damage to a building is covered.
What types of damage can be insured?
The household insurance policies can cover various damages such as:
Fire damage: If a burning candle is left too close to a curtain and a fire ensues.
Elemental damage: A storm causes a large branch to break a window in your home.
Earthquake: Your home and crucial infrastructure are damaged by a sudden earthquake.
Theft at home: Burglars forcefully enter your apartment and steal your inherited jewelry.
Theft outside: A pickpocket steals your wallet in a crowded public space.
Water damage: Your toilet gets clogged and floods the bathroom.
Content damage: Your accidentally drop your phone or spill coffee on your laptop.
Glass damage for furniture and buildings: A glass table or a window on the house you own is broken
Home assistance: You require the help of a locksmith or repairman.
How can I insure my household?
At Insuris, we understand the complexities of insurance coverage and are committed to making the process of securing the right insurance easier for you. In a personal consultation, we will connect you with the household insurance that suits your specific needs and budget. Feel free to contact us by clicking here.