Insurance switch in Switzerland: Guide for newcomers and foreigners

You have just moved to Switzerland or are planning a move? Then an important topic is on your agenda: switching insurance. As an insurance advisor and specialist for newcomers, I know that this process can seem confusing for many people. In this article, I will explain step by step what you need to pay attention to, which insurances are mandatory and how you can save money when switching.

Why an insurance switch in Switzerland is necessary

Switzerland has a highly developed insurance system. If you are moving from abroad, you generally cannot simply continue your existing insurance. The Swiss insurance system works differently than, for example, in Slovakia or the Czech Republic – and that is actually an advantage for you.

Particularly important: health insurance is mandatory in Switzerland. You must insure yourself within three months of your arrival, otherwise you risk a fine. At the same time, I recommend my clients to also review and adjust other insurances such as liability insurance. Why? Because the Swiss insurance landscape is specifically tailored to Swiss conditions – with different risks, higher salaries and stronger asset value development.

Understanding mandatory health insurance

Basic insurance is compulsory in Switzerland for everyone who lives or works here. It is about more than just protection in the event of illness: health insurance is the foundation of your existential security.

Premiums vary depending on the canton, insurance company and chosen deductible. On average, adults pay between 300 and 500 CHF per month for basic insurance. With a higher deductible (for example, 2500 CHF instead of 300 CHF), you can reduce the premium – this is especially worthwhile for young, healthy people.

Tip: Compare insurances! Every year until 31 December, you can switch to another insurance company. Use this opportunity to save up to 20–30 %. This is legal and even encouraged!

Supplementary insurance: What makes sense?

In addition to basic insurance, there are supplementary insurances. These are optional, but very important for many people in Switzerland:

Dental insurance: Dental costs can quickly run into thousands of CHF. Dental insurance costs between 30 and 60 CHF per month and covers dental treatment, prophylaxis and partially orthodontics.

Outpatient psychotherapy: This supplementary insurance is often cheaper than you might think and covers psychotherapy. It costs about 15–25 CHF per month.

Hospital insurance (private/semi-private): If you value a private hospital room, you need this supplementary insurance. It costs about 50–150 CHF per month.

Don't forget private liability insurance

This is one of the most important insurances that you often overlook! Private liability insurance covers damage that you cause to other people or their property. In Switzerland, damages are often valued significantly higher than in other countries – court judgements quickly reach six-figure CHF amounts.

Good liability insurance costs between 80 and 150 CHF per year and is thus one of the cheapest and most important insurances. It is not mandatory, but absolutely recommended – especially if you are the owner or tenant of a house or flat.

Provision and Pillar 3a: Save taxes

Many newcomers think about provision later. That is a mistake! In Switzerland, there is a three-pillar provision system:

Pillar 1: AHV/IV – the state pension. You are automatically registered here.

Pillar 2: Occupational provision. Your employer pays a contribution, as do you.

Pillar 3a: Voluntary, tax-deductible provision. You can pay up to 7056 CHF per year (2024) and deduct this amount from your taxes.

For foreigners and newcomers in particular, Pillar 3a is highly interesting, because this income significantly reduces your tax burden – often by 2000–3000 CHF per year! This is not insurance in the classical sense, but part of the mandatory insurance switch when you move.

Step-by-step: How to carry out your insurance switch

Step 1: Collect your current insurance documents (abroad + Switzerland, if available).

Step 2: Register with the municipality. You will then receive a registration form for health insurance.

Step 3: Compare health insurance offers online or seek advice (free of charge!).

Step 4: Take out liability, property and any supplementary insurances.

Step 5: Open a Pillar 3a account and pay in regularly.

Step 6: Document everything in writing and keep the confirmation.

Avoid common mistakes when switching insurance

In my daily work, I see the same mistakes over and over again:

1. Insuring too late: If you have not registered within three months, you have to pay past costs yourself!

2. Not comparing insurances: The differences are large – up to 30 % are possible.

3. Coverage sums too low: Especially with liability insurance: coverage of at least 5 million CHF is standard.

4. Ignoring Pillar 3a: Many pay thousands of CHF too much in taxes because they don't use this option.

Conclusion: Insurance switch is an opportunity

Switching insurance in Switzerland may seem complex at first, but it is an excellent opportunity to improve your financial security and save money at the same time. Switzerland offers a very reliable and well-thought-out insurance system – use it correctly!

Don't forget: the insurance switch is not just an administrative obligation, but an important investment in your security and financial future. With the right insurances, you can sleep soundly and focus entirely on your new home.

Schedule a free consultation appointment with Helpner: Branislav Hepner will advise you personally on all questions regarding your insurance switch, taxes and administration in Switzerland. Contact us today – without obligation and free of charge!