Is building insurance compulsory in Switzerland?

In 19 of 26 cantons, building insurance through a cantonal institution is compulsory. In the remaining cantons, there is an insurance obligation with private providers or voluntary cover.

What does building insurance cost in the canton of Zürich?

In the canton of Zürich, the GVZ premium is around 0.7–1.0 per mille of the building insurance value. For a house with an insured value of CHF 1 million, that is around CHF 700–1'000 per year.

What does building insurance cover?

Basic cover includes fire and natural hazards damage (storm, hail, flooding, landslide). Earthquakes, escape of water and glass breakage are not covered – for these you need additional insurance.

Who pays for building insurance – buyer or seller?

Building insurance passes automatically to the new owner when ownership is transferred. From the date of transfer, the buyer pays the premiums.

Building Insurance: Costs & Requirements