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Old 25.10.2020, 19:56
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Recommended insurances for homeowner

Hi everyone,

we recently became homeowners of a supercool apartment in Luzern that is in her 40s ( Apartment block was built sometime in the 70's).

Would really appreciate some advice from others regarding the necessary insurances...

Clearly we need to update our Haftpflicht and Hausrat but I already got stuck here... we have always just picked their recommended middle insurance amount for Hausrat. Now that we own though, in case of say fire (not our fault, because of course, it never is) - that amount covers our expectation for furniture but surely not for replacing the floor and repainting the place. Yet, even though you now tick the box for home owner, it doesn't really change the recommended amount to insure Hausrat for. Is this insurance just for house contents? Then what is the insurance for damage to the inside of the actual apartment called?

I know the apartment block also has an insurance for certain things, like fire and roof damage but would this include damage INSIDE our apartment, surely not?

Also, the apartment block is quite old and I am sure some of the apartments are from the 70s inside. Ours has recently been renovated and is modern, obviously also was a lot more expensive in the purchase price...so how do we insure ourselves against this. Let's say the block burns, we don't want to get reimbursed for the value of a 70s apartment but still owe the bank and have a mortgage for a place that costs far more. Does anyone have any experience in this?

Also does anyone insure against earthquakes in those areas that the insurance company actually doesn't recommend it for? It seems a bit paranoid but on the other hand, you don't want to end up having a massive debt for the rest of your like and nothing to show for it...
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Old 25.10.2020, 22:13
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Re: Recommended insurances for homeowner

I can't speak for your area, but our mandatory fire insurance covers returning the structure of the building to the original state - so would include floors and basic painting of walls.

You should ask for a copy of the building insurance policy for the block, then you will be able to confirm.
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Old 25.10.2020, 22:15
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Re: Recommended insurances for homeowner

All buildings in Ct. Lucerne are obligatorily insured against fire and natural hazards by the Gebäudeversicherung Luzern (GVL), a governmental body:


https://www.gvl.ch/


This link lists the coverage (German):


https://www.gvl.ch/versicherung/versicherungsdeckung/


To ensure that the value of the building is adequately covered, you might wish to request an insurance appraisal from the GVL.


Earthquake coverage: under the additional coverage sublink at the second link, the pdf says (translated):


"Earthquake insurance: The natural hazard insurance of the GVL excludes earthquake damage to buildings. The cantonal building insurance companies, which are included in a pool for earthquake cover, grant a limited voluntary cover of CHF 2 billion (for earthquakes of magnitude VII on the MSK scale) without additional premium. The deductible per building is 10 percent of the insured value or at least CHF 50,000. At the political level, the introduction of a compulsory nationwide earthquake insurance is being discussed. Some private insurance companies offer earthquake insurance (buildings and contents)."
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Old 25.10.2020, 23:39
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Re: Recommended insurances for homeowner

Congratulations on your new home!

You might obtain some advice from the Hausverein, an organisation for responsible home owners. https://casafair.ch/
https://casafair.ch/ueber-uns/sektionen/
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Old 27.10.2020, 12:39
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Re: Recommended insurances for homeowner

Thanks everyone, extremely helpful!

Looks like we are covered then from the Gebäudeversicherung and even somewhat for earthquakes!

So in summary, as a new home-owner of an apartment all you need is to update your hausrat/haftpflicht but not really even make any significant changes. The rest is insured and paid for by the Nebenkosten.

Think we will leave it at that, no need to go over the top and insure against alien takeover! Going through insurance documents always makes my head swim and in the end I find myself insured for the silliest things. Then I am the laziest person on earth when it comes to admin, so usually just end up paying for things myself anyway and not bothering to claim.
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Old 27.10.2020, 12:42
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Re: Recommended insurances for homeowner

Indeed it's typical that the building in an owned apartment is covered collaboratively with the other apartment owners. You can't build a single apartment without the rest (even not the ground floor..! )

Free-standing house will likely see you insure the building as well as contents.
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Old 27.10.2020, 13:22
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Re: Recommended insurances for homeowner

Definitely get earthquake insurance in the Basel area. Make sure the Gebäudeversicherung gives sufficient coverage. I don't know about BS, but in BL you don't have to take the Cantonal insurance any more.
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