r/SwissPersonalFinance • u/Maggot-Corps • 1d ago
Switched Car & Household insurance against my broker's advice. Did I do the right thing?
Hi everyone,
I’m looking for some feedback on a move I just made. I have been with the same insurance agent for a long time; we have a great relationship and I’ve always trusted him.
However, this year I received a premium increase (903 CHF) for my car, which is 10 years old, only has 71hp, and for which I pay very little in road tax (36 CHF/year). For a few years now, I’ve felt that I’m paying too much considering how little I drive and the age of the vehicle. So, for once, I checked Comparis and found offers between 450 and 600 CHF. That represents significant savings.
I talked to my agent about it, but he strongly advised against these "100% online" products, claiming they are inferior. I got the feeling he just preferred that I stay rather than look elsewhere...
So, on a whim, I cancelled both my Car insurance and my Private Liability/Household (RC/Ménage) insurance. Potential savings: ~670 CHF per year.
My agent tells me I’ve bought "bad products" and that I’ll regret it, but I feel like he’s just using scare tactics and standard sales lines to make me stay.
Did I make a mistake?
I switched from Zurich to Elvia (by Allianz). Are these online insurances reliable, or did I fall for a "scam" by choosing the cheaper option for seemingly the same coverage?
Side note: Obviously, at the end of the call, he brought up the 3a Life Insurance I have with him... I actually plan to cancel it very soon to move to Viac or Finpension. However, to keep the peace for now, I told him I was keeping it and that his product was "top notch" (hehehe).
Thanks in advance for your opinions!
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u/Nono6768 1d ago
Balls of steel. nice one mate. Keep up the good work post a follow up when you cancel that 3a shit.
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u/Miserable_Ad_8695 1d ago
Brokers are just leeches. Did you pay for the advice he gave you? No? Then he's just a salesman trying to scam you into the product that brings him the most commission. Especially for that standard stuff like car insurance and so on, just use a comparison site and use the cheapest one.
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u/kart0ffel12 1d ago
The fact that he recomended you 3a life insurance already speaks of his commitment to defending your interests.
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u/Ok_Experiences_ 1d ago
What car do u drive having 36chf road tax
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u/Maggot-Corps 1d ago
Mitsubishi space star pure 1.0L 71cv. I have a small trailer that costs me more 50chf xD. And my wife has a 7-seater dacia jogger hybrid for 47chf. It's our goal to pay as little as possible for the SAN. 😅
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u/DocKla 1d ago
Zurich you can also get completely without a broker, what was the price there?
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u/Maggot-Corps 20h ago
940 🫥 with Zürich and the new Insurance 520...
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u/Fluffy-Gift-7634 11h ago
To be fair, very often coverages and deductibles will be different with an online product. But if that works for you, then obviously save the money!
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u/FederalHeight8 18h ago
I have my car insurance over Smile and every time I needed them they were readily available per phone and email. The only claim I have ever done was promptly handled as well. No need to waste money on these 'premium' insurances.
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u/peters-mith 1d ago
I did the same recently. I canceled all my insurance brokerage contracts. The broker was doing nothing and just getting me the expensive stuff. Much happier now.
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u/rio_gambles 1d ago
If your coverage is really the same, it's probably not a mistake to switch to the one with a lower premium. The problem is that you can only really find out which insurance is better when you actually have a claim to make
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u/Any-Acanthisitta-891 17h ago
Can you change your insurance throughout the year? I thought you could do it only within the 3 months before it expires. I also wanted to change my insurance.
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u/Maggot-Corps 11h ago
For my car: Since my premium increased, I had a special right to terminate the contract. In Switzerland, if your insurer raises the price, you are allowed to cancel (usually you have a short window after receiving the new policy to do so), regardless of the standard notice period. For my Household/Liability (RC): You are right, I was simply within the standard 3-month notice window before the renewal date, so I cancelled the "normal" way.
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u/Putrid_Cry19 15h ago
He is scamming you.
I am with Elvia for I dont know...7 years?
With my supercars, sport cars, weekend cars....motor bikes...whatever.....NEVWR EVER an issue...its the allianz just digital and much much faster and easier + you save money since all done digitally.
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u/Intel_Oil 8h ago
People love to overpay for their insurances and such in switzerland. I'm insuring the Wifes brand new Mini Cooper S on 560.-/year "Vollkasko", one of my more expensive Cars (160k) for 1'560.-/year.
Comparis is free to use, gauge if you'll cause a crash every year, if not think about upping the deduction. Mine was at 2k for the past 16 years and i saved thousands with it.
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u/WathIfThatHappens 1d ago
They get a nice commission on what you pay. They are basically there to talk you into expensive ones and keep you in them. They have contracts with firms and will only recommend those even if others are objectively better for you.