3rd Party is for road risks, you might want fire & theft cover on the parked vehicle however.

I only have 3rd party on the Porsche & BMW, about 800 in total.

One other thing.. which I'm sure is buried in other posts but caused us lot a load of grief...

If a car is more than 10 years old and and the MFK is more than 1 year old it cannot be registered to a new owner until a new MFK is performed. (Definitely in Basel Land.. don't know about other cantons)

I bought a 13 year old motorbike the control was 364 days before, I was told in ZH it was no problem for all of that month. I waited a further 23 months to be invited for a new test.