Rental deposit insurance is expensive
In the case of rental deposit insurance, the difference between the cheapest and the most expensive tariff is 40 percent. In the worst case, tenants pay more than 900 francs over three years. On the other hand, a rent deposit payment is subject to interest at some banks. Comparis points out these differences.
Rent deposit insurance is only advisable in the event of short-term financial bottlenecks. The online comparison service Comparis points this out. In contrast to a rent deposit payment, the premium payments are lost in any case. With a ten-year contract, they can amount to more than half of the deposit amount. In a press release , Comparis calculates this on the basis of a ten-year contract and a deposit of 6,000 francs.
A good 20 percent of the Swiss population will have to make the right decision in the next twelve months. This is shown by a representative survey by Comparis on moving behavior in Switzerland .
Rent deposit insurances give new residents the required amount of mostly three months' rent. In return, they ask for an annual premium. The cheapest and the most expensive would be 40 percent apart. "Rent deposit insurance should only be considered to bridge short-term financial bottlenecks," is the recommendation of Comparis expert Frédéric Papp.
The definitely cheaper solution is to transfer the entire rental deposit to a rental deposit account. “You should pay attention to the choice of bank.” There are still banks that pay interest on deposits and others that charge opening fees of up to 150 francs or netting fees of up to 100 francs. Basically, the banking relationship can be negotiated.