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Old 02.06.2009, 19:30
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Long insurance terms!

Currently I am having a fight with the agency I get my civil liability insurance through, who claim that I have signed up for a 12 year insurance term. My recollection of the discussion is that I signed up for 2 years only, as I feel strongly that the long terms sought by the insurance agencies are not only anti-competitive buit also only work in favour of the insurance agency themselves, and of course that associated insurance company.
I'm hoping to get this resolved by the intervention of the insurance company themselves, but I have to say that I find even the suggestion of signing up for long terms for any product intensely irritating - which perhaps explains why I'm even pursuing this at all. Long terms for insurance products in Switzerland seem quite normal however, even though this to my mind goes directly against the interests of the consumer. What's the general feeling on this - should I just sign up and stop complaining, or are these long term's as bad as I feel they are?
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Old 02.06.2009, 19:39
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Re: Long insurance terms!

Try contacting the insurance ombudsman:

http://www.versicherungsombudsman.ch/html/port_e.html
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Old 02.06.2009, 19:51
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Re: Long insurance terms!

Might you be speaking of Die Mobiliar? I am in the same boat with them! I tried to cancel my policy 2 years ago and they told me no and that I signed a contract ending only in 2015. I have just been paying since it is "only" a couple hundred francs per year ... but I also have the feeling they pulled a fast one on me. ARGH!
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Old 02.06.2009, 19:58
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Re: Long insurance terms!

The insurer is trying to amortize the agents bonus.

Resist any long-duration insurance policies, unless you are offered a substantial sign-on discount. Once you commit, you are bonded and can only retract when you leave the country.
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