These four insurance types are compulsory in Switzerland. A requirement for everyone.

A dent in your car, a fire in your oven or a virus in your throat – there's insurance for all of these. But which type of cover do you really have to have? We explain which four types of insurance are compulsory in Switzerland. And which ones are voluntary but still worth having.

These four types of insurance are a requirement for everyone in Switzerland:

Everyone who has a car in Switzerland needs third-party liability insurance. You cannot get a licence plate without it. This applies to all motorised vehicles – from motorbikes to classic cars to tractors. Third-party liability insurance covers damage that you cause to others with your car – for instance if you graze another vehicle while parking or fail to notice a cyclist.

Something that is not compulsory but is very much worth having is partially or fully comprehensive insurance for your car. Comprehensive insurance covers damage to your own car, for example if you hit a post or your vehicle is damaged in a hail storm.

Regardless of whether you have a good immune system or not – at some point everyone has to visit a doctor or a hospital. As such visits can quickly become expensive, health insurance is compulsory in Switzerland. It covers a large portion of the costs of doctor's appointments, treatment, hospital stays and medications.

Whether it's a wasp sting, a sprained ankle or a bike crash, accidents can happen in the blink of an eye. To ensure that the costs don't become painful too, accident insurance is required by law in Switzerland. It covers the medical expenses incurred due to the accident and any consequential costs.

If you are employed and work more than eight hours per week, you will be insured via your employer in the compulsory accident insurance scheme (UVG). If you work fewer than eight hours or are not employed, you must take out accident cover privately with your health insurer.

Break-ins, flooding, short circuits – there are plenty of things that can go wrong at home. To ensure that you don't have to foot the bill yourself, it's worth taking out household contents insurance. This covers damage to your possessions that is caused by fire, water or theft.

Household contents insurance is a special case in Switzerland. It is only compulsory in some cantons. In Nidwalden and Vaud, for example, it is mandatory to take out insurance against fire and natural hazard damage with the cantonal fire insurance scheme. If you live in the cantons of Fribourg or Jura, this type of insurance is also obligatory – but you can choose which insurer to use.

In all other cantons, household contents insurance is voluntary. However, since damage to your household contents can quickly become very expensive, this type of insurance is nevertheless highly recommended.

Many types of insurance are voluntary, but the following four are definitely worth having:

A flowerpot falls off your window ledge and lands on a passer-by. Your child ruins your neighbour's expensive carpet. To ensure that small mishaps don't leave a hole in your wallet, it's worth taking out personal liability insurance. This covers personal injury and property damage that you and your family cause. Although it is voluntary, personal liability insurance is strongly recommended.

You're in a dispute with your landlord or having problems with your boss. You'd like to take steps to defend yourself, but have neither the necessary knowledge nor the spare cash to pay for legal assistance. For situations like these, it's worth taking out legal protection insurance.

With personal legal protection, you will have experienced lawyers and legal experts at your side if the worst comes to the worst. And with traffic legal protection cover, you can enjoy peace of mind when out and about. This saves  you not just money but also time and stress – after all, peace of mind is priceless.

A storm destroys your terrace or the cosy fire in your fireplace suddenly sets your whole house alight. If you own residential property, it's important to take out comprehensive cover for it.

Buildings insurance for fire and natural hazard damage is compulsory in most Swiss cantons. The specific rules are stipulated by the canton.

However, this insurance does not cover additional risks, such as water damage. For that reason, it is also worth taking out private buildings insurance.

The retirement provision system in Switzerland is based on three pillars. Pillar 1 (state pension) and pillar 2 (occupational pension) generally do not pay enough benefits to maintain your standard of living in old age. For that reason, pillar 3 (private retirement provision) is becoming increasingly important. Although private retirement provision is voluntary, nowadays it is almost indispensable as a way of making up pension shortfalls.

Private retirement provision is possible either with a bank or with an insurance company – such as Allianz. With a retirement planning solution from an insurance company, you not only save for your retirement but can also protect yourself and your loved ones financially against the risks of death and disability, making it doubly worthwhile.

• The only insurance policies that are compulsory throughout Switzerland are health insurance and accident insurance. If you have a car, you also need car insurance.
• In some cantons, household contents insurance and buildings insurance are required by law.
• Many types of insurance are voluntary, but will nevertheless protect you against the risk of incurring high costs. Examples include personal liability and legal protection cover.
• Private retirement provision may be voluntary in Switzerland, but nowadays it is almost indispensable.