Published by : dl

Household insurance

Shared by tenants and owners, this insurance provides protection against potential calamities that may affect movable property which is an integral part of the household. In the canton of Vaud this coverage is mandatory with regard to the risk of fire and only ECA (Etablissement Cantonal d’Assurance Incendie – Cantonal Fire Insurance Institution) provides this service.

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Third-party liability responsibility insurance (private RC)

The purpose of this insurance is to cover the economic consequences of incidents which effect the private life of another individual, or in other words, when the insured is liable as a third-party or obliged to remedy the damage he or she has inflicted on others.

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Building insurance

Building insurance covers the body of the building against the four principal risks of property insurance: fire, water damage, theft and glass breakage.

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Property third-party liability insurance (RC)

In the event of injury or property damage caused by a construction defect or faulty maintenance, the land or building owner is responsible for costs (recovery, loss of income, repair or replacement of damaged object). This insurance plays an important role when there are more than three housing units in question.

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Construction / construction works insurance

Building insurance covers only properties that are finished; nevertheless, they had first to be built and every finished structure is very likely to be at least once renovated, converted or expanded. And each construction phase brings its own dangers. Construction and construction works insurance is meant to cover such dangers.

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Home-builder liability insurance

Construction and construction works insurance covers the deterioration or destruction of the insured works, but heavy activity on the site can also cause damage to others.

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Construction loan

In Switzerland, the construction loan serves exclusively to finance construction projects (new constructions, conversions and renovations). It can only be granted by a bank or by certain public insurance companies.

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Legal definitions

In this section, we define various terms related to the legal aspects of real estate ownership.

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Right of purchase

The right of purchase is a contract that gives its holder the power to buy a property in the future. The right of purchase (or pre-contract) does yet bring forth a transfer of property.

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Right of emption

The right of emption gives the contractholder the ability to acquire a property at a later date under the conditions stated in the contract.

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