In Switzerland, insurance is part of everyday life. From compulsory health cover to optional home or life insurance, there’s no shortage of policies. Yet many people still believe things that aren’t true. These myths can leave you underinsured, paying too much, or facing unexpected bills. Let’s clear up some of the most common Swiss insurance myths — and reveal the reality behind them.
Myth 1: “I don’t need life insurance if I’m young”
Reality: Even in Switzerland, life insurance is not just for older people. Getting it young often means lower premiums and more coverage choices. Imagine you’re 25, working in Zurich, and in good health. You think, “I don’t need it yet.” But if something unexpected happens, your loved ones may still face costs such as funeral expenses or paying off a mortgage. Taking out a policy early locks in affordable rates and ensures protection.
Myth 2: “Household insurance covers everything”
Reality: In Switzerland, household contents insurance protects your belongings against events like fire, theft, and water damage — but it doesn’t cover everything. For example, flood damage from natural disasters might require additional coverage under natural hazard insurance. If you live near a river or in a mountain area prone to landslides, checking your policy details is essential.
Myth 3: “Car insurance automatically covers personal belongings”
Reality: Swiss car insurance usually covers damage to the vehicle, but not necessarily your personal possessions inside. If your handbag or laptop is stolen from the car, your household insurance may cover it instead — provided you have theft coverage. Knowing which policy covers which items prevents frustration during a claim.
Myth 4: “Basic health insurance means I won’t pay anything”
Reality: In Switzerland, basic health insurance is compulsory, but it doesn’t eliminate all costs. You still have to pay an annual deductible and a co-payment. For example, if your franchise is CHF 2,500, you must pay that amount before your insurance starts covering medical bills. Understanding your policy helps you avoid surprises and plan for expenses.
Myth 5: “Cheaper insurance is always better”
Reality: While comparing premiums is important, the cheapest policy is not always the best value. For example, a low-cost health insurance plan might limit you to specific doctors or require you to call a telemedicine service before seeing a GP. Balancing affordability with the benefits you need is key to long-term savings and proper protection.
Conclusion
Swiss insurance can be complex, and myths can lead to expensive mistakes. By knowing the facts, you can choose the right coverage for your needs, budget, and lifestyle. Always read your policy carefully, compare options, and ask questions before signing.
