Buildings insurance canton Zurich leaves index unchanged
The building price level in the canton of Zurich rose slightly in 2021. The building insurance of the Canton of Zurich leaves its insurance index based on it unchanged. The index was last adjusted in 2009. The long-term consistency is intended to ensure premium stability.
The Zurich index of residential construction prices, which is collected annually, rose by 1.1 percent to 1057.7 points between April 2020 and April 2021, explains the building insurance of the Canton of Zurich ( GVZ ) in a message . The independent public company will nevertheless keep its insurance index based on the construction price level unchanged at 1025 points in 2022.
The GVZ last adjusted its insurance index to 1025 points in 2009, the communication further explains. At the same time, the insurance values of the buildings in the canton of Zurich were revised. “The long-term constancy of the index is desirable from an actuarial point of view because it has a positive impact on premium stability,” explains the company.
In general, the GVZ insures buildings at their new value, the message goes on to say. Property owners can, however, have a new appraisal carried out at any time. This is particularly useful after value-adding investments in order to avoid a possible underfunding of the insurance cover for the property.
