Insurance in Switzerland: What do you really need?

Insurance in Switzerland: What do you really need?

At the end of September, the new premiums were announced: The average health insurance premium will rise by 5 percent to CHF 412 per month in 2027. For many, this is the moment to open the insurance folder once again. And then the question arises, which sounds the same every year: What do we actually need, and what are we just continuing to pay for because it has always been that way?

Here’s an overview, organized by mandatory, sensible, and life situation. Without product names, but with the questions you can ask yourself while browsing through.

Mandatory: These insurances are required by law

Health insurance (basic insurance). Anyone living in Switzerland must have it. The benefits are the same across all insurers, but the price is not. You decide on the deductible (between CHF 300 and CHF 2,500) and the model (general practitioner, HMO, Telmed, or free choice of doctor). A rule of thumb from comparison portals: If you have treatment costs of less than around CHF 1,800 to 1,900 per year, you’ll save more with the highest deductible. You can cancel every year by November 30 for the end of the year. The Federal Council wants to raise the minimum deductible to CHF 400; this is still under consultation and does not apply for 2027.

Accident insurance. If you are employed for at least eight hours a week, you are insured through your employer under the UVG, even during your leisure time. Everyone else (students, self-employed, homemakers, retirees) must include accident coverage with their health insurance. Conversely, if you are employed and still paying for accident coverage with your insurer, you are paying double. It’s worth taking a look at the policy.

AHV, IV, and pension fund. These are insurances, even if we rarely call them that. They are automatically deducted from your salary. Self-employed individuals pay AHV themselves and have a gap in the second pillar unless they voluntarily join.

Motor vehicle liability. Without it, there’s no license plate. It covers the damages you cause to others with your vehicle, but not your own car.

Building insurance. Mandatory for property owners in almost all cantons, usually through the cantonal building insurance. Exceptions are Geneva, Valais, Ticino, and Appenzell Innerrhoden, where it is handled by private providers.

Almost mandatory: Voluntary, but it gets expensive without it

Personal liability. Not legally required, but practically indispensable. It pays if you drop your neighbor's laptop, your child damages someone else's bike, or you cause water damage while moving. Most landlords require it, and for dog owners, it is mandatory in most cantons, often with a prescribed coverage amount. Today, coverage of 5 to 10 million francs is common, and the difference in premium is small. Check: Is the dog listed in the policy? Are rental damages (like scratches on the floor) covered?

Household contents insurance. Mandatory only in Nidwalden, Vaud, Fribourg, and Jura, and even there only for fire and natural damage. Elsewhere, it’s voluntary. It makes sense as soon as your apartment contains more than just a bed and a sofa. The most common gap: The insured amount is based on the first shared flat and has never been adjusted since moving into the family apartment. In case of underinsurance, the insurer will reduce the payout proportionally.

Depending on life situation: Here it’s worth thinking

Daily sickness allowance. Employees usually have it through their employer. Self-employed individuals do not. If you get sick and can’t work for two months, you’ll notice the difference immediately.

Incapacity to work due to illness. The biggest gap in many files. In case of an accident, employees are well insured under the UVG, while in case of illness, the IV and pension fund apply, which often only covers part of the previous income. This mainly affects self-employed individuals, part-time workers with low insured salaries, and young families with a main income. Check the pension fund statement: It shows what would be paid out in case of disability.

Death risk. Relevant as soon as someone depends on your income, especially with a mortgage or in a cohabitation situation, where the legal protection of the partner is lacking. A pure risk insurance is inexpensive; mixed life insurances with a savings component are not.

Supplementary health insurance. Semi-private or private hospital coverage, dental insurance for children, coverage abroad, glasses, alternative medicine. Here lies the greatest flexibility. Ask yourself for each component: Have I used this in the last three years? If not, the answer is usually clear. Note: Insurers can reject supplementary insurances, so wait for the new approval before canceling.

Comprehensive and partial comprehensive insurance. Comprehensive for a new or leased car, partial comprehensive (theft, glass, hail, marten) for a car that still has some value. For a twelve-year-old car with a residual value of CHF 3,000, comprehensive often contributes more to the premium than to the protection.

Legal protection. Useful if you drive a car, are a tenant, or work as an employee. Disputes with landlords, employers, or after a traffic accident are typical cases. Check beforehand if you are already covered through an association (tenant association, TCS, union).

Travel insurance. Cancellation and assistance are often already covered by credit cards or associations. Medical costs abroad are limited in basic insurance (maximum double the Swiss rate), and for trips to the USA or Canada, additional coverage is advisable.

What most people don’t need

Mobile phone insurances, warranty extensions when buying electronics, insurances for bicycles that would also be covered under household contents, travel insurances that duplicate with the credit card. These are small amounts, but they add up. And they fill the folder with policies that no one can keep track of anymore.

Once a year: The review

The new premiums in October are a good reason to do this. What should be on the table:

• All policies with premium, coverage amount, and expiration date
• Duplicate coverages (accident, travel, legal protection, bicycle)
• Household contents amount: Does it still match the contents of the apartment?
• Liability: Is the dog listed, coverage amount at least 5 million?
• Supplementary insurances: Used or just paid?
• Pension fund statement: What is available in case of disability and death?
• Cancellation deadlines: Basic insurance by November 30, supplementary insurances usually by September 30, property insurances often three months before the contract expires.

The problem is rarely the individual decision. It’s the overview. Policies are in emails, in folders, and in the insurer's customer portal, and no one knows off the top of their head when which contract expires. With ELVIDA, you can upload the policies, the app recognizes the insurer, premium, and duration, and reminds you before the cancellation deadline. You see all insurances on one page and can inquire what is actually covered. The decision remains with you, but you make it with the whole picture in mind.

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This article is a general overview and does not replace personal advice. Coverage and obligations vary depending on the canton and life situation.

Sources: BAG, media release health insurance premiums 2027 from 29.09.2026; moneyland.ch, analysis of premiums 2027; Comparis, personal liability and household contents mandatory; PostFinance, which insurances are needed in Switzerland; consultation on KVG amendment adjustment of the deductible (2026).