Home ownership covers many different situations: you might own a terraced house that you rent out. Or own the flat you live in.  Maybe you even own an office building. Different ownership situations call for different forms of insurance. These are the most important:

Household contents: How to protect your personal possessions

A fire, a burst water pipe or theft can cause a lot of damage to your home, both to the building itself and to your possessions. Household contents insurance covers damage to the personal belongings of everyone living in the same household as the policyholder. This includes TVs, clothes and furniture, as well as pets, rented items and things visitors bring with them when they visit you. Household contents insurance always covers the following:

• Natural hazards (hail, storm, etc.)
• Fire damage
• Water damage
• Theft (including skis, bikes, etc.)
• Glass breakage

Buildings insurance: when your property is damaged

This insurance pays if the building itself sustains any damage. It covers the following kinds of damage to buildings:

• Fire (including lightning, explosion, etc.)
• Natural hazards (flooding, avalanches, etc.)
• Water damage
• Glass breakage
• Damage resulting from burglary
• Damage by rodents or by malicious intent

In most cantons, public buildings insurance providers have a monopoly on fire insurance. So you are not free to choose your own provider.  The exceptions are the cantons of Appenzell Innerrhoden, Geneva, Obwalden, Schwyz, Ticino, Uri and Valais.

Liability: for private individuals and building owners 

If you live in the property you own, personal liability insurance will provide all the protection you need. If you own a multi-family home or condominium, you also require buildings liability insurance.

• Personal liability: Comes into play when you cause damage to other people or property – whether as a homeowner or as a private individual. You can take out personal liability cover for the whole family at the same time.  Depending on your lifestyle, you may want to include additional cover for horse riding, model aircraft flying or driving other people’s cars.

• Buildings liability: If a tile falls from the roof of your multi-family home and lands on a car, or if the postman slips on ice in your driveway. This insurance takes care of third-party claims for damages related to your building or land.

Death and loss of earnings: so you don’t lose your home

• Death: When you buy your own home, you take on a commitment that continues after you die. Those you leave behind will receive a lump sum from the death benefits insurance with which they can pay off the mortgage. That way, your family can stay in the family home, with no financial problems to add to their suffering at this already difficult time.

• Loss of earnings: If you are no longer able to work following an illness or accident, you can expect a loss of earnings. In that case, you might no longer be able to pay your mortgage interest. Income protection insurance helps close these gaps in your finances. It is particularly valuable if, like most policyholders, you find yourself unable to work due to illness.

Legal protection insurance: when you run into trouble

Many things change when you become a homeowner.  Not least the legal situation. The situations that lead to legal disputes involving homeowners are the same every time. You suddenly have to deal with neighbours’ rights, employment law or criminal law.  Legal protection insurance helps you assert your rights as a homeowner – backed by relevant expertise and money.