Payment Of Insurance Premiums

Posted on: August 28th, 2011 by publisher
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Payment of insurance premiums in Switzerland is usually within 30 days of receipt of the premium invoice. Usually, this is accompanied by a payment slip which can be used in bank payment instructions or at the post office together with cash. The later is still a popular transaction.

If you don’t pay the premium within the thirty days allowed then you are technically behind with your payment of the policy.

At this point the Swiss insurance company will issue a written reminder, demanding payment within a further 14 days. If payment is still not received, the insurance company is no longer obligated to pay any claims which may arise after this point; you will now be technically uninsured.

Complications arise depending upon the type of insurance in Switzerland. If you allow premiums to lapse on your motor vehicle insurance, it would not be considered fair to a third party in the event of an accident. Allowing your vehicle insurance in Switzerland to lapse will quickly bring you to the attention of the local police who will arrive at your house and remove your registration plates until you can prove that your insurance payments are up to date. In this way you will be prevented from using the car and the possibility of causing an accident whilst uninsured.

© Insurance-in-Switzerland.com, 2011


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