Changing car insurance in Switzerland: how does it work?
When can you change your car insurance? Comparis provides an overview and explains when it’s worth switching to a new provider.
12.09.2023
iStock/AndreyPopov
1. When can I change car insurance?
Are you planning to change your current car insurance? It’s possible to do so in the following cases:
The contract is valid for the period of time stated in your policy. If you don’t terminate it, the contract is usually extended for a further year. Detailed information is given in the insurance company’s general terms and conditions of insurance. Notice periods vary from insurer to insurer.
Duration of the car insurance policy
Some insurance providers offer short contract periods (one year), others longer periods (often three years). Some policies provide for an annual right of cancellation – regardless of the duration of the contract. Planning to cancel your car insurance and don’t want to miss the deadline? Comparis will remind you before it’s too late.
If you buy a new car, you can change insurer. This is because you may terminate the insurance contract early if you change vehicle. The premium already paid will be refunded on a pro rata basis. You can find more information about this in our article on changing vehicle or keeper.
If the keeper of the vehicle changes, the rights and obligations under the insurance are transferred to the new keeper. Once they have been entered in the vehicle registration certificate, the new owner can change insurer within 14 days.
As soon as the new insurance company is registered in the vehicle registration certificate, the previous liability insurance expires. Casco insurance ends on the date of the change of keeper, however.
The insurance company has the right to change the premiums or general insurance conditions for the following insurance year. However, the policyholder must be informed of these new terms at least 25 days prior to the end of the current insurance year.
If you do not agree to them, you can cancel the contract at the end of the current insurance year. Some insurances allow termination even in the event of a premium reduction.
Please note that the cancellation letter must reach the insurance company by the last day of the insurance year at the latest.
After each claim either party may terminate the contract. Has the insurance company indicated that it will pay for the damage? If so, you can cancel your insurance policy within 14 days of notification. The exception is if the claim occurred during the first year of insurance, or if the vehicle is a total write-off.
Cover lapses 14 days after the insurance company receives the cancellation letter. The premium paid in advance for the full year will be refunded on a pro rata basis.
Insurance habits of Swiss people
More than half of people in Switzerland have never switched car insurance, even when changing their vehicle. This was shown by a survey of 1005 people carried out by the market research institute Innofact for Comparis in July 2023. In addition, almost half of the respondents have a contract period of more than one year.
When they last bought a vehicle, 39% of vehicle owners switched their car insurance to a provider with whom they had already taken out another insurance policy. Only 12% of respondents had compared the premiums offered by different providers using a comparison portal.
2. Why should I change car insurance?
Rates and premiums can vary significantly depending on the insurance provider. By switching to a provider with lower prices, you could reduce insurance costs.
Switching also allows you to choose insurance with benefits or additional options that better suit your needs. Examples include:
a lower deductible
extended cover options
The cost of the same benefits vary depending on the insurer. That’s why it’s worth comparing insurance.
Swiss car insurance companies reward their customers with lower premiums if they don’t make a claim. If you switch to a different insurer, your premium level will be recalculated.
If you haven’t had an accident, you will also benefit from lower premiums with the new insurance. When you change insurer, you will have to disclose all of your claims in recent years.
3. Switching car insurance in Switzerland: which documents do you need?
To change your car insurance, you must cancel your previous insurance – preferably by registered letter. Use our template to do this: cancellation letter.
The new insurance company will ask for various details. You will need the following documents to ask for a quote:
Purchase or lease agreement
Vehicle registration certificate
Driving licence
In addition, it’s helpful to have the old insurance policy and any confirmations of claims at hand.
This article was first published on 09.08.2017
