Deductible in home contents and liability insurance
What is meant by the deductible? And how much is this in contents and personal liability insurance? Comparis provides the answers.
22.11.2023
iStock/Christian Horz
1. What is meant by the deductible?
The deductible is the amount that you must pay towards any damages, despite the insurance you have taken out. It can appear as either a percentage or a fixed amount in your contract.
With a deductible, insurance companies want to prevent the filing of many small claims. The deductible affects your insurance premiums – with a lower deductible you pay higher premiums and vice versa.
Sample calculation of home contents insurance: deductible and premiums
A 30-year-old person with Swiss citizenship lives alone in a rented apartment in Winterthur. The insured sum is 88,000 francs.
With the highest deductible of 500 francs, the lowest annual premium is 144.80 francs. With the lowest deductible, the annual cost is 175 francs (source: the Comparis home contents insurance calculator, as of November 2023).
2. Deductible and home contents insurance
With home contents insurance, you can usually choose your deductible when taking out the contract. There is a statutory deductible of 500 francs for damages caused by natural hazards (Article 175 of the Supervision Ordinance, available in German, French, Italian).
Other deductibles vary depending on the insurance provider and usually range from 0 to 200 francs.
3. Deductible and personal liability insurance
The deductible for personal liability insurance is usually 200 francs. Depending on the insurance company, you can also increase, decrease or exclude it.
Deductibles for damages caused by the tenant and claims made via supplemental insurance for driving third-party vehicles are separately regulated. For example, the insurance company may decide to calculate the deductible for damages caused by the tenant based on the number of rooms instead of a single sum. Find more details in your insurance company’s general terms and conditions or in your policy.
Home contents and liability insurance deductible: how much should I choose?
The deductible you should choose depends on your financial situation. However, with a higher deductible and lower premiums, you will save more over time than you pay in the event of a claim.
This article was first published on 22.11.2023
