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Created on 12.08.2019

Do you want to change your car insurance policy and save money? Here’s how easy it is

A lot of drivers are reluctant to change their car insurance, yet it is often well worth it, and it is neither complicated nor that much effort. How to get the insurance you’re after in just three steps.

Is my current car insurance policy still the right choice? This is a question drivers should ask themselves every now and again, seeing as changing car insurance often pays off. For one thing, you can save money, and for another, you ensure that the benefits provided by the policy meet your current requirements. We will show you the best way to go about changing your policy. 

  • Find out the next possible notice period for your current car insurance policy. You can change policies in these instances:

    • If your contract is expiring: if your insurance is due to expire, then, subject to your policy’s notice period, which is generally three months, you can cancel your policy. Check your policy or the General Terms and Conditions of Insurance for more details. Generally speaking, cancellation is possible on an annual basis.
    • Change of vehicle/owner: have you bought a new car, or has your vehicle had a change of owner? In both instances, changing your insurance policy is easy. Seeing as you will be refunded your unused premium on a pro rata basis, you do not have to worry about premium losses.
    • Premium increase: another instance where you can change policies is when your insurance company announces a premium increase for the following year of cover. Make sure that your insurance provider receives notice of cancellation on the last day of the current year of coverage at the latest.
    • Claim: have you had a claim where your insurance provided cover? If so, then both you and your insurance company can cancel the contract. The deadlines and conditions are governed by the General Terms and Conditions of Insurance (GTCI). If the contract has been in force for longer than one year and the damages do not constitute a write-off, you will receive the prepaid annual premium back on a pro rata basis.

    Remember to cancel your current insurance policy in good time. The easiest thing to do is to use our cancellation template (see “Download cancellation template”). You must cancel your current insurance policy in writing. Even though it is not necessary to send cancellation by registered mail, it is advisable to do so. One more tip: have your cancellation notice confirmed in writing by your current insurance provider so that you can be sure it has been received and accepted.

  • Before changing your car insurance policy, it is a good idea to go through your insurance requirements in detail. Think about what sort of insurance benefits you require. Here you will find an overview of basic insurance policies and additional insurance:

    What basic insurance do you require?

    Liability insurance

    This is required by law and covers damage that you cause to other people, vehicles, buildings or the environment.

    Partially comprehensive insurance

    This extends your liability coverage to include damage caused by hazards, fire and theft, as well as glass damage.

    Fully comprehensive insurance

    Your partially comprehensive insurance and liability insurance are extended to cover collision damage. Fully comprehensive insurance is required for leased vehicles. 

    What additional insurance do you require?

    Stationary damage insurance

    You discover a dent in your parked vehicle after a day’s shopping, but there’s no sign of the culprit? In this instance, stationary damage insurance covers the costs. 

    Vehicle legal protection

    Disputes buying or repairing your vehicle? Vehicle legal protection provides legal support in such an event. 

    “Personal belongings” insurance

    Suitcases or golf clubs stolen from your car? Or was an expensive pair of sunglasses damaged when it was broken into? This type of insurance will cover theft of and damage to personal belongings in your car.

    Gross negligence cover

    Caused an accident due to negligence? If you have not taken out any gross negligence cover, insurance companies generally either pay just some money out or none at all. Gross negligence cover can help prevent that happening. 

    “Glass breakage in headlights” insurance

    Headlights vandalized? This will cover you for damaged or shattered headlights, tail lights and indicators, as well as bulbs and light-emitting diodes (LEDs). 

    Additional current value coverage

    Write-off or theft? Additional current value coverage will cover you for the replacement value of your vehicle over a certain period of time (usually two years). Even beyond that point, compensation in the event of damage will still be higher than the standard replacement value.

    Roadside assistance

    Burst tyre? Lost your keys? Petrol tank empty? With roadside assistance, help will quickly be at hand. 

    Personal accident insurance

    Has a passenger suffered consequential damage following an accident in your vehicle, or even died? Personal accident insurance will help you and cover the financial consequences. 

  • Looking to change to a car insurance policy with attractive conditions and benefits? If so, you should obtain a non-binding quotation – for instance an The link will open in a new window online quotation with PostFinance Car Insurance.

Useful to know

PostFinance Car Insurance is the only insurance provider in Switzerland to offer a CO2 option with which you can offset your CO2 emissions and support a “south pole” conservation project in Africa.

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