The most important forms of insurance for singles

Which insurance policies are compulsory?

In Switzerland, health insurance is compulsory for anyone residing and working in the country. If you want to buy a vehicle for use on public roads, motor liability insurance is also a requirement. In the cantons of Nidwalden, Vaud, Fribourg and Jura, you must also take out contents insurance against the risk of fire.

Sometimes landlords insist on proof of personal liability insurance. Dog owners should also do their research, as some cantons require proof of liability insurance. In addition, personal liability insurance is compulsory for anyone using a drone weighing more than 250 grams.

However, other types of insurance are also very important for single people. They include contents and legal expenses insurance, even if they are not required by law. These insurance products provide protection against the negative financial consequences that may arise from everyday incidents or particular types of emergencies. In addition, a private pension to supplement occupational and state provisions is key to ensuring financial independence in old age. Together, these policies provide comprehensive protection and security in various areas of life, and a solid foundation for single people wishing to lead a financially self-determined life in Switzerland.

Personal protection: contents and liability insurance

Comprehensive insurance cover is very important for everyone, but especially for singles, as they are solely responsible for their financial security. Three key pillars of this protection are contents, liability and legal expenses insurance. They not only provide financial protection in many situations in life, they also ensure access to professional support in the event of a claim or in legal cases. This gives a reassuring – and valuable – sense of security.

Contents insurance

Household contents insurance covers damage to personal property and is particularly important if, for example

• water damage caused by a leak destroys furniture and electrical appliances.
• valuables, jewellery or technical equipment are stolen in a burglary.
• a down jacket is stolen from a restaurant in winter.
• belongings are destroyed through fire damage caused by short circuits or a kitchen fire.
• additional vandalism damage occurs following a burglary.
• a new notebook is dropped on the floor and damaged.
• suitcases are stolen from a hotel room during a holiday or a mobile phone is snatched on the beach. Review your holiday plans carefully to avoid unpleasant surprises. 

Find out everything you need to know about contents insurance here.

Liability insurance

Liability insurance protects you against the financial consequences of damage you cause to others. It covers you if

• you accidentally damage someone else’s property, such as if you break a friend’s smartphone.
• you inflict a personal injury, e.g. if someone falls as a result of your carelessness and injures themselves.
• you damage property, e.g. if you scratch a car with your bicycle.
• personal injury or property damage leads to financial losses, e.g. if you knock someone down on your bicycle and they are then temporarily unable to work. Or if you cause property damage in a holiday apartment and the apartment cannot be rented out as a result.

Medical matters: health insurance

In Switzerland, basic insurance is compulsory for all people living or working in the country. It covers the most important medical benefits – from visits to the doctor and hospitalisation to prescription drugs. Basic insurance ensures that your healthcare is guaranteed in many standard cases:

• If you fall ill with the flu, the insurance covers the cost of the doctor’s appointment and the prescribed medication.
• If you break a bone, the insurance covers the necessary medical care, including surgery and the hospital stay, unless you are insured through your employer.
• In the case of allergic skin reactions, basic insurance covers outpatient treatment by a specialist.

Find out more about Switzerland’s health insurance system here.

If you want more cover than that offered by basic insurance, you can take out voluntary supplementary insurance. This covers more medical benefits and offers advantages that can be particularly useful in the following cases:

• Protection abroad: full cover for medical emergencies while travelling
• Transportation costs at home and abroad
• Alternative and complementary medicine, including treatments such as homeopathy, Ayurveda, osteopathy, that are carried out by recognised therapists
• Additional benefits such as contributions to glasses, an extended list of medicines or preventive measures (e.g. preventive check-ups)
• More comfort in hospital: accommodation in a single or twin room and free choice of attending physician

The choice between semi-private and private supplementary hospital insurance offers additional flexibility:

• Semi-private: entitlement to a double room and free choice of doctor throughout Switzerland, with an experienced specialist usually taking care of the treatment in public hospitals.
• Private: entitlement to a single room and free choice of doctor in all hospitals in Switzerland, with the advantage that in public hospitals the senior consultant is responsible for treatment.

These additional benefits enable individuals to personalise their healthcare cover and ensure the highest level of medical care and comfort.

Find out more about supplementary insurance here.

Additional security: pension provision

Private provisions, which are specially designed to supplement state (1st pillar) and occupational (2nd pillar) provisions, are central to the future financial self-determination of single people. They are designed not only to maintain a certain standard of living in old age, they also protect against the financial consequences of a loss of income. In addition, good pension planning enables you to achieve life goals such as owning your own home, or to fulfil a dream such as starting your own business.

Pillar 3a

Pillar 3a is a tax-qualified product and a special form of retirement pension. Contributions are tax deductible up to a certain amount, which translates into immediate tax savings during the accumulation period. A one-off tax is charged on payout.

The investment opportunities within this pillar offer the potential for attractive returns, particularly through stock market investments. Access to savings is strictly regulated and primarily intended for retirement, although there are a few exceptions allowing early payout prior to retirement.

Pillar 3b

Unlike pillar 3a, pillar 3b is not tied to retirement, but can also be taken out for other medium to long-term savings goals. Pillar 3b is a flexible pension option with no restrictions on the amount of contributions or how the savings may be used. This lack of restrictions makes pillar 3b attractive for individual savings plans and financial goals beyond traditional retirement pensions.

Private provisions: bank or insurance product?

Whether you choose a bank or insurance solution for your private pension depends on your personal preference and individual life situation. Insurance-based pension plans often offer additional protection, such as the continued payment of premiums in the event of disability. Bank products, on the other hand, are characterised by their flexibility and the option to invest the pension capital according to your own wishes, which may involve higher risks and opportunities.

Legal protection: your legal advisor for everyday life

Legal expenses insurance offers singles valuable support for legal matters and conflicts. People with personal and/or motor legal protection insurance benefit from the expertise of experienced lawyers who, if necessary, will support them through the legal process. In addition to expert advice, the insurance also covers the cost of any mediation proceedings as well as the cost of trials that may arise in the event of a legal dispute, such as lawyer’s fees, court fees and litigation costs.

You can benefit from legal expenses insurance in the following situations:

• Workplace conflicts: you are unjustifiably suspended from your job and need legal support to defend your position.
• Problems with online purchases: you buy a smartphone online that is never delivered, and the seller does not respond to your attempts to contact them.
• Disputes with neighbours: a neighbour damages your garden fence and denies all responsibility.
• Traffic offences: you are involved in a minor accident in which the question of blame remains unresolved and you need legal advice.

Having rights and access to justice should not be a question of money, so it’s worth investing in legal expenses insurance.

Frequently asked questions about insurance for singles

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