No – or only inadequately. Since the relevant provisions differ from canton to canton, the majority of buildings in Switzerland are not covered against earthquake damage, or cover is insufficient. For this reason, it is almost always advantageous for property owners to take out separate earthquake insurance.
The premium is calculated based on the sum insured and other parameters such as the year of construction, the construction method or any fire protection in place. If a deductible is agreed, the premium will be somewhat lower. In the event of a claim, however, a specific share of the costs must be borne by you. You will receive further information during a personal consultation.
Provided total construction costs do not exceed CHF 100,000, your planned conversion is included in AXA's building insurance. If total construction costs are higher, we recommend that you take out construction insurance.
Ideally, you should have taken out property insurance for your business – this is the commercial equivalent to household contents insurance. In the event of a claim, this covers all of your company's movable items. Only built-in fixtures count as part of a building's installations and are covered under the building insurance.
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