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Tag: Gebäudeversicherung

  • Buildings insurance canton Zurich leaves index unchanged

    Buildings insurance canton Zurich leaves index unchanged

    The Zurich index of residential construction prices, which is collected annually, rose by 1.1 percent to 1057.7 points between April 2020 and April 2021, explains the building insurance of the Canton of Zurich ( GVZ ) in a message . The independent public company will nevertheless keep its insurance index based on the construction price level unchanged at 1025 points in 2022.

    The GVZ last adjusted its insurance index to 1025 points in 2009, the communication further explains. At the same time, the insurance values of the buildings in the canton of Zurich were revised. “The long-term constancy of the index is desirable from an actuarial point of view because it has a positive impact on premium stability,” explains the company.

    In general, the GVZ insures buildings at their new value, the message goes on to say. Property owners can, however, have a new appraisal carried out at any time. This is particularly useful after value-adding investments in order to avoid a possible underfunding of the insurance cover for the property.

  • Damage to houses is CHF 650 million

    Damage to houses is CHF 650 million

    Damage to buildings amounting to CHF 650 million has arisen due to the strong thunderstorms and rainfall in recent weeks. The Association of Cantonal Building Insurance Companies draws this first balance as of July 27, according to a media release . The association points out that in 19 of the 26 cantons the cantonal building insurance covers the repair costs.

    It also informs that homeowners in those cantons in which cantonal building insurance (KGV) is mandatory are automatically insured against natural hazards such as flooding. "The KGV insurance coverage is fully guaranteed even in the event of major events such as those of the last few weeks."

    The association also provides building owners with online maps on which they can see how endangered their location is, for example from hail, floods and surface runoff. Accordingly, they could take these natural hazards into account when renovating and building new ones.

    Local heavy rain had led to flooding in early July. Parts of southwest Germany and Belgium were particularly hard hit, with numerous fatalities and destroyed houses and streets. In Switzerland there was only property damage. However, the building insurance of the Canton of Zurich asks its customers to be patient on its website, due to an "extraordinarily large number of incoming damage reports".