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Old 28.04.2017, 09:47
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Do you have Earthquake Insurance ?

I'm currently being offered Earthquake insurance for the flat (which is part of a block) that I own for around 300chfs per year.

Do most property owners in Switzerland have this ?

I pay into a mutual account for the building maintenance.. would that fund normally cover building/earthquake insurance .. or is that the responsibility of each flat owner ?
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Old 28.04.2017, 10:10
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Re: Do you have Earthquake Insurance ?

Nah...........i like to live dangerously...
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Old 28.04.2017, 10:17
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Re: Do you have Earthquake Insurance ?

I do. It's part of my building insurance. But 300CHF seems a bit steep just for earthquake insurance.
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Old 28.04.2017, 10:31
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Re: Do you have Earthquake Insurance ?

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I do. It's part of my building insurance. But 300CHF seems a bit steep just for earthquake insurance.
Well Basel is the highest risk place in Switzerland.....
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Old 28.04.2017, 10:49
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Re: Do you have Earthquake Insurance ?

I find it strange that only this year have insurance companies started to think about offering insurance cover for earthquakes.

As you can see from the Beobachter article, there is some free cover, but only in certain cantons. So insurance is necessary!

I think this cover should be included in all policies and not charged as an extra risk, as earthquakes can happen anywhere in Switzerland.

Info: http://www.beobachter.ch/geld-sicher...t-den-schaden/

http://www.erdbebenrisk.ch/start.html

421 Earthquakes already this year in Switzerland!

http://www.seismo.ethz.ch/en/home/

.

Last edited by Sbrinz; 28.04.2017 at 11:06.
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Old 28.04.2017, 11:02
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Re: Do you have Earthquake Insurance ?

This Kassensturz article/program from March 2017 brings up some interesting points:

https://www.srf.ch/sendungen/kassens...cherung-kostet

As you mull over this policy, iPoodle, make sure you understand in which cases the policy would pay out, which not, how much you would be expected to cover yourself.

As always, the devil is in the details.


Earthquake damage is specifically excluded from our normal Gebaudepolice, IIRC last time I checked, admitedly over 10 years ago, our insurer (SZ) would not offer a separate policy. Note to self: look into this again.
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Old 28.04.2017, 11:12
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Re: Do you have Earthquake Insurance ?

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Earthquake damage is specifically excluded from our normal Gebaudepolice, IIRC last time I checked, admitedly over 10 years ago, our insurer (SZ) would not offer a separate policy. Note to self: look into this again.
6th March 2017, magnitude 4.6 earthquake located about 3 km NE of the village of Urnerboden in the border region of cantons Uri, Schwyz, and Glarus.

http://www.seismo.ethz.ch/en/home/
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Old 28.04.2017, 11:34
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Re: Do you have Earthquake Insurance ?

Don't forget also your Tsunami insurance!
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Old 28.04.2017, 22:51
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Re: Do you have Earthquake Insurance ?

Read the details of the insurance. With the Zurich canton buildings insurance (GVZ) for example the home owner is liable for 10% of the insured sum, with a minumum of 50,000 CHF. It also covers only earthquakes of at least magnitude 7.

With the commercial buildings insurance I was offered, the owner is liable for much less, but it still requires an similar level magnitude to qualify.
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Old 28.04.2017, 23:21
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Re: Do you have Earthquake Insurance ?

Does it make sense to get such an insurance if you only owe one flat in a building? Shouldn't all owners in the house do one together?
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Old 28.04.2017, 23:39
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Re: Do you have Earthquake Insurance ?

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Don't forget also your Tsunami insurance!
Especially if you live in Seewen. https://en.m.wikipedia.org/wiki/Goldau
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Old 12.10.2017, 09:36
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Re: Do you have Earthquake Insurance ?

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I'm currently being offered Earthquake insurance for the flat (which is part of a block) that I own for around 300chfs per year.

Do most property owners in Switzerland have this ?

I pay into a mutual account for the building maintenance.. would that fund normally cover building/earthquake insurance .. or is that the responsibility of each flat owner ?
If you live in Basel or Valais, it MAY make sence, but even there, it depends on the type of the building you are living in and your level of risk acceptance. Generaly speaking, if it is built after 2003, then it is probably designed for seismic loads. Other places in CH, makes less sense for such an insurance.
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Old 12.10.2017, 10:05
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Re: Do you have Earthquake Insurance ?

The cantonal buildings insurance for St Gallen also covers earthquakes, with a self-payment of 50'000 and a total limit for the canton of 2 billion.

Nothing that I can see regarding the magnitude of the earthquake, but with a 50k franchise I guess that's implied.

If the 2 billion is exceded, payments are reduced accordingly - I guess they have some sort of reinsurance which needs a limit to be viable.
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Old 12.10.2017, 10:16
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Re: Do you have Earthquake Insurance ?

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Does it make sense to get such an insurance if you only owe one flat in a building? Shouldn't all owners in the house do one together?
All owners should together agree on this. It doesn´t help you much if you have insurance but the rest of the building is wrecked without insurance. Do you have an Eigentümerversammlung?
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Old 12.10.2017, 11:25
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Re: Do you have Earthquake Insurance ?

Basel (stadt) insurance explicitely excludes earthquakes:

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Was ist nicht versichert?

* Die direkten oder indirekten Folgen eines Erdbebens
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