I wrote this article to help the reader understand the most popular insurance policies offered by insurers.
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The objective of this article 🎯
Please note that my goal is not to influence the reader to buy insurance. But to have a neutral opinion regarding the main insurances offered.
Note! I am not an insurer! Each person is free to choose their insurance. Thus, to assume the financial consequences.
Indeed, with this article. I allowed myself to write my opinion which is only a personal opinion and not a recommendation!
⚠️ The information in this article is general and each insurance contract varies the conditions! Therefore, you must read the insurance contract conditions and take this article only as a generality.
Compulsory health insurance 🧑⚕️
In Switzerland, health insurance is compulsory.
The purpose of this insurance is to reimburse certain medical expenses.
I have written several articles to summarize the services that are covered by health insurance funds in Switzerland. On my page ”savings/frugalism”.
Vehicle Insurance 🚘🏍️
If you own a vehicle, here are the main insurance policies offered:
| Contract type | Mandatory or free | Quick explanation | My personal opinion |
|---|---|---|---|
| RC vehicle | Mandatory | This insurance covers property damage (but not your vehicle) and bodily harm to others. | Mandatory and necessary |
| Glass repair | Free | Glass repairs for turn signals and headlights | My mechanic admitted to me that he rarely has cases to avoid. |
| Passenger insurance | Free | This insurance covers physical damage to passengers. | I have never used it because the people I transport have accident insurance with their employers. |
| Towing assistance | Free | Breakdown assistance and towing | I recommend it because you never know when the vehicle will break down. |
| Partial casco | Free | Coverage in the event of damage to your vehicle due to a natural event or natural disaster (e.g. fire, hail) | Personally, I have never needed one in 10 years. |
| Full casco | Free | Coverage for repairs to your car even if it's your fault. In the event of a collision | Too expensive if you have a cheap vehicle |
| Gross negligence | Free | Support for repairs if you make a serious mistake | Not having this insurance can give an excuse for the insurance not to insure you in case of a serious error. I have mixed feelings. |
| Personal effects | Free | Support for objects inside the vehicle | As in this blog we are minimalists, we do not own many objects. Therefore, I do not recommend. |
Household Insurance 🏠
Here are the main insurance policies that we will offer you for your household:
| Contract type | Mandatory or free | Quick explanation | My personal opinion |
|---|---|---|---|
| RC (Civil liability) | Free (but required by a majority of owners). | This insurance covers you against damage that you cause to others (for example, you damage your landlord's floor). | Recommended |
| Household | Free | This insurance covers theft inside your home | Not necessary for a minimalist. Except for a valuable item. |
| Flight outside | Free | Insurance against external theft | Since this blog is minimalist. We don't own much. This insurance is to be avoided unless you have a very expensive object. |
| Household Casco | Free | Damage caused by yourself (e.g. you broke your smartphone) | Personally, I have no valuables, this insurance is not necessary. |
| Gross negligence | Free | Damage caused by gross negligence | If you are not insured with this service, the insurance may not cover you if you commit a serious fault (for example, you left a candle burning on your sofa). I have mixed feelings about this insurance. |
3a with insurance 📜
In my opinion, 3a insurance should be avoided.. It is better to take a 3a bank or with a foundation. For example, with Viac or Finpension.
Travel insurance ✈️
| Contract type | Mandatory or free | Quick explanation | My personal opinion |
|---|---|---|---|
| Trip cancellation fees | Free | This insurance covers you if you cancel your trip | Only take it if you spend a lot of time abroad per year. |
| Outpatient (rescue and repatriation) | Free | This insurance covers outpatient medical assistance | I think this insurance may be questionable if it covers all repatriation costs in Switzerland and abroad. |
| Luggage | Free | Insurance against loss or theft of baggage | Not necessary for a minimalist |
Legal Protection Insurance 👨✈️
| Contract type | Mandatory or free | Quick explanation | My personal opinion |
|---|---|---|---|
| Legal protection | Free | This insurance covers you if you have legal fees with a dispute | These insurances are expensive and rarely useful. However, they are useful in the event of a legal dispute. |
Pet insurance 🐕🦺😺
| Contract type | Mandatory or free | Quick explanation | My personal opinion |
|---|---|---|---|
| Pet insurance | Free | This insurance covers you if you have veterinary expenses | I think these insurances are too expensive compared to the services they cover. |
Conclusion
Understanding the most popular insurance policies
👉 To conclude, the only 4 insurances that I recommend having for an average citizen are:
- Vehicle liability insurance
- Vehicle towing assistance
- Liability insurance (household)
- Repatriation
👉 In my opinion, these are the only insurances that make real sense if we analyze the risk-reimbursement in the event of a claim. Because they allow for appropriate financial protection against unforeseen situations.
However, depending on each person's possessions and hobbies, other insurances may be useful.
Therefore, it is necessary to analyze the usefulness of each insurance. Knowing that we, minimalists, rarely need to use our insurance.
Bonus – My favorite insurances and insurance comparator
When I want insurance. There are 2 insurances that I like to analyze first. Because the prices are often the most interesting.
However, I do not guarantee that these insurances are the best. But in my experience, I am satisfied if we compare quality-price.
The easiest way to start is to compare insurance policies in a comparison site. My favorite insurance comparison sites are:
- Moneyland
- Compare
Bonus – Cancel and subscribe to insurance
If you want to change your insurance, you must first respect the contract deadline.
Once you have read the deadline, you must write a termination letter before the notice period, which is generally 3 months before the end of the contract.
If you want to take out a new insurance policy, you can register through the insurance company's website or by phone. But be careful, you have to read the conditions and, in my opinion, a contract should not last longer than 1 year.
But be careful, you have to read the conditions of the contract before. And in my opinion, a contract should not last longer than 1 year.
Understanding the most popular insurance policies
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Overall, this blog lives on sharing a frugal and minimalist lifestyle.
For a question of transparency towards the readers. All recommended products are in order to make life cheaper, simpler and to promote the essentials.
Basically, my only income with this blog comes:
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About me
I decided to create this blog to develop and help readers who are looking for a simpler and more economical life.
Compared to before, I was a person who consumed a lot until the day I realized that my consumption made me sadder and poorer 😑
Now I prefer the minimum of my needs to be happy and achieve my financial freedom.
Without realizingI started to focus on saving and investing to depend on a boss for as little time as possible and to speed up my personal projects.
For several years I have felt happy and I have become richer in a way that I would never have imagined given that I have an average salary in Switzerland.
It is for this purpose that I decided to create this blog. In order to share and learn with other people who seek freedom and simplicity 😉
Are you rather minimalist or frugal Jonny?
I am as minimalist as I am frugalist. However, there are situations where I lean more towards an art of life.
To conclude, I think the most important thing is to feel comfortable in your lifestyle 😊
Understanding the most popular insurance policies
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