Helvetia launches new type of insurance to bridge the gap between fully and partially comprehensive cover

Media information

Basel, 27 August 2026
 

Helvetia’s new total loss insurance includes all the benefits of partially comprehensive cover plus total loss following a collision caused by the policyholder – all at a significantly lower premium than fully comprehensive insurance. Initial reactions to the product, which is being offered in Switzerland for the first time, show that it is proving particularly popular among registered keepers of motor vehicles which are around ten years old.

Roughly nine out of every ten policies for Helvetia’s new total loss insurance are taken out by private individuals. The insured motor vehicles are ten years old on average and had a list price of around CHF 44,000 when they were new. Four out of every five policies taken out so far have been for passenger vehicles, with motorbikes accounting for the rest. An analysis of the initial sales figures shows that in view of rising costs, it is primarily owners of older, second-hand cars who are interested in finding the right balance between partially and fully comprehensive cover.

“We are the only insurance company in Switzerland offering this type of solution. We deliberately launched the product without any advertising at first, to get an idea of what demand would be like. The fact that total loss insurance has proved so popular so quickly anyway shows that many customers have been waiting for a solution like this – one that provides policyholders with the key elements of cover in the event of a total loss, without them having to pay a premium for fully comprehensive insurance,” explains Chrys Fischbacher, Head of Product Management for Motor Vehicle Insurance at Helvetia.

Significantly cheaper than fully comprehensive cover
Exactly how much policyholders can save varies according to their motor vehicle and their profile. Premium calculations for five typical medium-sized cars between five and nine years old show that on average, the premium for total loss insurance is around a third (33%) cheaper than that for fully comprehensive insurance. This means that policyholders could save between one hundred and several hundred francs a year depending on their motor vehicle and their profile. Yet savings aside, they still retain the key elements of cover in the event of a total loss.

The middle ground between fully and partially comprehensive cover
Total loss insurance bridges the gap between partially and fully comprehensive insurance. It includes all the benefits of partially comprehensive cover – for instance, in the event of hail, theft, glass breakage or marten bites – while also covering total loss following a collision caused by the policyholder. Minor collision damage, however, is not covered.

This makes the model ideal for registered keepers of older motor vehicles for whom fully comprehensive insurance is perhaps no longer worth it (since their vehicles have lost a considerable amount of their original value) but who still want cover against loss occurrences that could cause significant financial harm. Anyone who switches from fully comprehensive insurance to partially comprehensive insurance loses all cover for collisions they cause themselves – even in the event of a total loss.

According to Helvetia’s assessments, fully comprehensive cover is primarily worthwhile for new and high-value motor vehicles. Yet as motor vehicles age and their current values decrease, many registered keepers start to look for more affordable alternatives. This is precisely where total loss insurance comes into its own, providing a practical middle ground between partially and fully comprehensive cover.

Information on data analysis and the product
The figures referred to in this media release are based on an analysis of total loss insurance policies taken out between 23 March and 31 July 2026. Vehicle values refer to the list price of a new vehicle, including accessories, not the current value. As the dataset is still relatively new, detailed analyses are of limited value in statistical terms.
Total loss insurance is available for motor vehicles from their fourth year in operation onwards and can currently be taken out via a personal consultation with Helvetia. From 19 September 2026, the product will also be available online at www.helvetia.ch.

About Helvetia Baloise
Helvetia Baloise is Switzerland’s largest multi-line insurer and one of Europe’s leading insurance groups. Every day, around 22,000 employees work hard to support around 13 million customers with insurance, pension, and financial solutions. These customers range from individuals and small to medium-sized enterprises (SMEs) through to international customer groups, which also benefit from areas such as specialty insurance and reinsurance. Headquartered in Basel, Switzerland, Helvetia Baloise operates in eight European markets as well as in global specialty markets, combining its strong Swiss roots with a clear international focus. Helvetia Baloise creates safety and security and opens up opportunities, both today and in the future. Through profitable growth and business operations geared towards long-term stability, we create tailored solutions for our customers, provide an attractive and reliable investment for our shareholders, promote strong partnerships and offer rewarding career prospects for our employees. Helvetia Baloise Holding Ltd shares (HBAN) are listed on the SIX Swiss Exchange.

Disclaimer
This document has been produced by the Helvetia Baloise Group, and the recipient is not entitled to copy or modify, offer, sell or otherwise pass it to third parties without the consent of the Helvetia Baloise Group. The German version of the document is authoritative and binding. Versions of the document in other languages are for information only. Every reasonable effort has been made to ensure that the facts and opinions presented in this document are fair and reasonable. It should not be assumed that information and figures quoted from external sources have been verified or confirmed by the Helvetia Baloise Group. Neither the Helvetia Baloise Group as such nor its decision-making bodies, senior managers, employees and advisors or other persons accept any liability for losses arising directly or indirectly from the use of this information. The facts and information presented in this document are as up to date as possible, but may change in the future. Both the Helvetia Baloise Group as such and its decision-making bodies, senior managers, employees and advisors or other persons reject any explicit or implied liability or warranty for the accuracy or completeness of the information contained in this document.

This document may contain forecasts or other forward-looking statements relating to the Helvetia Baloise Group that, by their nature, involve general and specific risks and uncertainties, and there is a danger that the forecasts, predictions, plans and other explicit or implied content of forward-looking statements may turn out to be incorrect. We would point out that a number of important factors may contribute to the actual outcomes varying greatly from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include: (1) changes to the general economic situation, particularly in the markets in which we operate, (2) developments in the financial markets, (3) interest-rate changes, (4) exchange-rate fluctuations, (5) changes to laws and regulations, including accounting principles and financial reporting practices, (6) risks associated with the implementation of our business strategies, (7) the frequency, scope and general level of claims, (8) mortality and morbidity rates, (9) policy renewal and lapse rates and (10) the extent to which economies of scale and scope can be realised. In this context, we would point out that the above list of important factors is not exhaustive. When assessing forward-looking statements, you should therefore examine the named factors and other uncertainties carefully. All forward-looking statements are based on information available to the Helvetia Baloise Group on the date of their publication. The Helvetia Baloise Group is only obliged to update such statements when required to do so by applicable law.