What is included in compulsory insurance, the so-called Haftpflichtversicherung?
Liability insurance is prescribed and regulated in the Road Traffic Act.
It covers property damage and personal injury that you have caused to other people with your vehicle. For insurance purposes it is irrelevant who was driving the vehicle at the time of the accident – it is the vehicle registered with the road traffic authority that is insured, not the driver.
What is included in the partial insurance, the so-called Teilkasko?
Partial insurance can be taken out voluntarily and covers damage to a vehicle that was not caused by the driver himself. The events covered by partial insurance are fire, natural hazards (hail, storm, flood, etc.), theft, collision with animals, glass breakage and the effects of being bitten by a marten. These risks are structured differently depending on the service provider.
When is it advisable to take out partial insurance?
It is advisable to take out partial insurance when the vehicle is of high value (more than CHF 75´000) and is not older than 7 years.
It is also worth taking out partial insurance if the vehicle is often parked outside.
In case of vandalism and damage caused by natural elements, the benefits of insurance companies often differ significantly. It is therefore worthwhile to carefully compare the general insurance conditions (also known as AVB).
What is included in the collision insurance, the so-called Vollkasko?
Collision insurance covers damage that you cause to your own vehicle as a result of a collision (crash). The insured vehicle is covered regardless of the driver. Partial insurance and collision insurance together form comprehensive insurance. When leasing, the leasing company generally requires collision or comprehensive coverage.
Collision or comprehensive coverage is usually only viable for vehicles up to and including the fourth year of operation. For vehicles that were put into circulation more than five years ago, comprehensive insurance is usually no longer cost-effective, because in the event of a total loss, only the current value (the value of the motor vehicle at the time) is replaced and therefore the high premium is no longer worthwhile.
However: If you urgently need a vehicle and don’t have the savings to replace it, you should longer use comprehensive insurance.