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Old 01.11.2018, 18:19
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Exactly which insurance for rented apartment

Hi

I am moving to a new apartment and organising insurance for the first time. (I know it's important and recommended and I should have had it before now...)

Does personal liability insurance cover any damage I make to the new apartment? Or is this covered under contents insurance?

Because I don't have any expensive possessions (small apartment, all second hand furniture, no TV etc), so maybe I will skip the contents insurance. However, I do want insurance if I break something in the apartment.

Many thanks
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Old 01.11.2018, 18:28
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Re: Exactly which insurance for rented apartment

Personal liability insurance: Only other peoples stuff.
Contents insurance: Only your stuff.
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Old 01.11.2018, 21:29
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You don't need any insurance.

You may feel the need for contents insurance, but IME that's only ever going to be a good bet in the event of a catastrophic fire or similar, unless you have anything of significant value. But I guess that you wouldn't be asking if that were the case.

Liability insurance is a rip-off; or should I say even more of a rip-off than most other insurance. Just put aside a small amount into a savings account to cover you for any small breakages and you'll be much better off in the long run.
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Old 01.11.2018, 21:33
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Re: Exactly which insurance for rented apartment

If anything IŽd get that personal liability, if OP doesnŽt have that yet. Accidents can happen and can cost a lot.

I know, not relevant probably to the appartment
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Old 01.11.2018, 21:42
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Re: Exactly which insurance for rented apartment

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Liability insurance is a rip-off; or should I say even more of a rip-off than most other insurance. Just put aside a small amount into a savings account to cover you for any small breakages and you'll be much better off in the long run.


I do not always groan, but when I groan it is with good cause.

Putting away a small amount instead of liability insurance? If small is like CHF 5000 per month until you have something like 300k to spare agreed.

For CHF 120 per year you can get a CHF 5'000'000 cover, CHF 100 deductible, including occasional use of non-rental cars. A total no brainer considering a simple bicycle accident could set you back CHF 40k !!

https://www.tagesanzeiger.ch/zuerich...story/23611201
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Old 01.11.2018, 23:24
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Re: Exactly which insurance for rented apartment

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I do not always groan, but when I groan it is with good cause.
Despite being the one currently uninsured, I would second that...

I'm from the UK where no-one has this insurance, as you can't be sued unless there was intent or negligence or recklessness, and claims are rare. As I understand, in Switzerland, you can be liable even for unpreventable complete accidents e.g. slip off your bike and hit someone due to loose stones on the road, despite going at a safe speed and riding safely. Or, meteor knocks you off your bike, and you fall onto someone and injure them. I guess it makes sense, when you consider that in Switzerland, all healthcare, social care, unemployment, etc is ultimately paid for privately (whether directly or through insurance), so stands to reason that they would seek someone to "blame" and pay up.

When deciding whether a risk is worth mitigating (insuring):

The severity of a risk = consequences of it happening x likelihood

So the chance of being sued for millions is no doubt rare, but the potential liability is huge. There's perhaps also some value in peace of mind.

My new flat is almost new, with expensive-looking appliances... hence I want this covered.
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Old 02.11.2018, 00:57
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Re: Exactly which insurance for rented apartment

Hindsight I would go for SwissCaution instead of locking money on rental guarantee account and signing a 5 years long liability insurance contract.
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Old 02.11.2018, 01:24
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Re: Exactly which insurance for rented apartment

Rental guarantee / SwissCaution is something different again, this is instead of paying a deposit. Avoided if you can afford to pay the deposit.
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Old 02.11.2018, 04:48
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Re: Exactly which insurance for rented apartment

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Hindsight I would go for SwissCaution instead of locking money on rental guarantee account
They don't insure liability, you break stuff you owe them everything the landlord wishes to charge, plus admin fees. Better think of them as a borrowing a loan for your deposit at 5% - would you rather borrow at 5% or leave the money in a bank at 0%?

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and signing a 5 years long liability insurance contract.
Most contracts are 1 year or cancellable each year and cover not only rentals
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Old 02.11.2018, 09:14
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Re: Exactly which insurance for rented apartment

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Putting away a small amount instead of liability insurance? If small is like CHF 5000 per month until you have something like 300k to spare agreed.
err...isnt it?

Kidding, obviously.
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Old 02.11.2018, 09:20
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Re: Exactly which insurance for rented apartment

Renters Insurance is good to have in case you forget to open the drain and turn the water off while away on vacation.

Costs about 400 to 500 a year depending on what you own.
I'm with Mobiliar so I get a rebate based on their profit.
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Old 02.11.2018, 10:25
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Re: Exactly which insurance for rented apartment

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I'm from the UK where no-one has this insurance, as you can't be sued unless there was intent or negligence or recklessness, and claims are rare. As I understand, in Switzerland, you can be liable even for unpreventable complete accidents e.g. slip off your bike and hit someone due to loose stones on the road, despite going at a safe speed and riding safely. Or, meteor knocks you off your bike, and you fall onto someone and injure them. I guess it makes sense, when you consider that in Switzerland, all healthcare, social care, unemployment, etc is ultimately paid for privately (whether directly or through insurance), so stands to reason that they would seek someone to "blame" and pay up.
And unlike in the UK mere mortals can not go into bankruptcy. in Switzerland bankruptcy is solely for companies. Private debts are forever if the creditor opens a pursuit and tries to get his money back at least once every 20 years!

https://www.beobachter.ch/geld/schul...echen-geht-das
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Old 02.11.2018, 10:54
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Re: Exactly which insurance for rented apartment

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And unlike in the UK mere mortals can not go into bankruptcy. in Switzerland bankruptcy is solely for companies. Private debts are forever if the creditor opens a pursuit and tries to get his money back at least once every 20 years!

https://www.beobachter.ch/geld/schul...echen-geht-das
This post was a bit sloppy/imprecise. (Unusual for you, had a rough week? )

A mere mortal can legally go into bakruptcy in Switzerland. It's just not a very good idea really, as unlike a company the mere mortal won't evaporate after and as you said can be reminded every 20 years.

Quite a system here actually. You can go officially/legally bankrupt while in reality you can't get back up until the day you payed everything off. Nasty

Which is why your post was only imprecise, not wrong.

Some info in German
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Old 02.11.2018, 10:59
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Re: Exactly which insurance for rented apartment

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You don't need any insurance.

You may feel the need for contents insurance, but IME that's only ever going to be a good bet in the event of a catastrophic fire or similar, unless you have anything of significant value. But I guess that you wouldn't be asking if that were the case.

Liability insurance is a rip-off; or should I say even more of a rip-off than most other insurance. Just put aside a small amount into a savings account to cover you for any small breakages and you'll be much better off in the long run.
You don't need any insurance until you do
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Old 02.11.2018, 19:04
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Re: Exactly which insurance for rented apartment

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You don't need any insurance until you do
Unless its life insurance!
In which case you won't be around to collect.
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Old 02.11.2018, 19:38
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Re: Exactly which insurance for rented apartment

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Unless its life insurance!
In which case you won't be around to collect.
Wait this is not like +1UP !?!
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Old 02.11.2018, 21:11
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Re: Exactly which insurance for rented apartment

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Unless its life insurance!
In which case you won't be around to collect.
Very true.

OTOH I wouldn't arrange life insurance for a rental apartment
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Old 02.11.2018, 21:36
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Re: Exactly which insurance for rented apartment

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Very true.

OTOH I wouldn't arrange life insurance for a rental apartment

Rentals can also burn!
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