Insurance News

PostFinance Car Insurance: Cheapest for Many Drivers

September 10, 2019 - Daniel Dreier

How does the new PostFinance car insurance compare? This evaluation by compares the premiums and coverage of PostFinance car insurance to those of other Swiss car insurance policies. The results show that PostFinance car insurance offers good value for money, but not for new drivers.

An evaluation of car insurance premiums by compared the premiums of the new PostFinance car insurance with those charged by other Swiss car insurance providers. For its evaluation, compared car insurance premiums for a VW Golf VII Trendline with a 1.0 motor and 86 horsepower for private use in Zurich and Geneva based on different driver profiles. The evaluation is based on third-party liability and comprehensive car insurance with no deductibles, and collision car insurance with a 500-franc deductible (the lowest offered by Swiss insurers). Annual premiums are rounded to the nearest 5 francs.

No coverage for young adults, new drivers or Tesla cars

PostFinance does not offer car insurance to drivers below the age of 20. All other Swiss car insurance providers insure drivers from 18 years old. PostFinance also does not insure older drivers who have held a driver’s license for less than 2 years. Another negative point is that PostFinance does not currently insure Tesla cars, which are popular in Switzerland.

High premiums for young adults

Premiums for young adults and new drivers who meet these criteria are relatively high. Full-casco insurance from PostFinance for a 23-year-old driver that got a driver’s license in 2016 range between around 1140 francs and 1280 francs per year. That’s over 100 francs more per year than the premium charged by for the same profile. Premiums for AXA and Mobiliar are also significantly lower than PostFinance when the driver agrees to have a drive recorder or crash recorder installed.

PostFinance mandatory liability car insurance is also not among the most affordable offers for young adults. PostFinance charges young adults with this profile around 200 francs more for basic mandatory insurance than does. When compared with all other Swiss liability car insurance providers, PostFinance’s premiums are average.

Lowest premiums for experienced drivers

A 38-year-old Swiss driver who obtained their driver’s license in the year 2000 could expect to pay between 480 francs (man, Geneva) and 520 francs (woman, Zurich) for full-casco car insurance from PostFinance for a new car. That is almost half of the premium charged for the most expensive policy with the same coverage and deductibles (Mobiliar: between around 950 and 970 francs per year). After PostFinance, the next most affordable full-casco car insurance for this profile (from Elvia) costs over 100 francs more per year.

PostFinance car insurance is also the most affordable for drivers with this profile who only need mandatory third-party liability insurance. PostFinance third-party liability car insurance costs just under 200 francs per year for a man in Geneva and just over 220 francs for a woman in Zurich. That is around half as expensive as equivalent policies from AXA (around 440 francs for a woman in Zurich), Mobiliar (around 430 francs per year for a man in Geneva) and TCS (around 400 francs for a woman in Geneva). The next most affordable third-party liability insurance ( in Geneva and Zurich Insurance in Zurich) costs around 50 francs more per year.

Lowest full-casco insurance premiums for drivers with recent liability claims

A driver fitting the above profile but with 1 liability insurance claim for property damage in the past 2 years will pay the least for full-casco insurance from PostFinance. Premiums for PostFinance full-casco insurance for drivers with 1 recent property-damage claim range between around 560 francs per year (man, Geneva) and nearly 610 francs per year (woman, Zurich). The next most affordable option (Elvia) costs between 20 and 70 francs more. The most expensive equivalent full-casco insurance for this profile (Vaudoise) costs more than 1000 francs per year.

PostFinance is not the cheapest option for drivers with this profile who only need mandatory liability car insurance. Zurich Insurance has the lowest premiums for third-party liability insurance for drivers in Zurich with recent accidents. The most affordable options for Geneva residents are Elvia (men) and (women).

Lowest premiums for non-Swiss drivers without recent accidents

A 38-year-old German, French or Italian driver with Swiss permanent residence who got their driver’s license in the year 2000 could expect to pay just over 480 francs (man, Geneva) to 520 francs (woman, Zurich) per year for full-casco car insurance from PostFinance. That is around half the price of the most expensive equivalent policies. It is more than 100-francs per year cheaper than the next most affordable option (Elvia).

PostFinance is also the cheapest option for mandatory third-party liability car insurance for German, Italian and French drivers who fit this profile. Premiums range between around 190 francs (man, Geneva) and 215 francs (woman, Zurich). That is around half the price of the most expensive equivalent policies (AXA, Mobiliar, TCS). Here too, PostFinance third-party liability car insurance is around 50-francs per year cheaper than the next most affordable options (smile-direct, Zurich Insurance, Dextra).

Exception: Albanian drivers. Drivers in Zurich and Geneva who fit the above profile but have Albanian citizenship pay the lowest premiums with Dextra. This applies to both full-casco car insurance and basic, mandatory liability car insurance. Dextra’s premiums for Albanian drivers with Swiss permanent residence are around 60 francs per year lower than PostFinance’s.

Lowest premiums for older adults without recent accidents

PostFinance is also the most affordable option for older adults. A 69-year-old driver with no recent accidents who obtained their driver’s license in the year 1970 will pay between just over 570 francs (man, Geneva) and around 620 francs (woman, Zurich) per year in premiums for full-casco car insurance. The next most affordable option for this profile (Elvia) costs between 88 and 136 francs more. Allianz has the highest premiums for older adults, at more than 1000 francs per year for full-casco insurance.

PostFinance also has the lowest premiums for mandatory liability can insurance for this profile, at between around 254 francs (man, Geneva) and 278 francs (woman, Zurich). However, the next most affordable offers for older adults (Zurich Insurance, are just marginally more expensive. AXA charges the highest mandatory liability car insurance premiums for drivers with this profile. At between around 465 francs (Geneva) and 490 francs (man, Zurich), AXA charges around 200 francs more per year than PostFinance.

Not the cheapest for older cars

While PostFinance collision and comprehensive car insurance is often the most affordable for new cars, this is not the case with older cars. Elvia’s full-casco car insurance (comprehensive and collision) is cheaper than PostFinance’s for many makes of cars. However, PostFinance is still among the most affordable insurers in this regard. PostFinance’s premiums for partial-casco car insurance (comprehensive without collision) compare much less favorably. For many makes of cars, PostFinance’s partial-casco insurance is not among the top 3 most affordable policies, although there are exceptions. This is important for owners of older cars who are more likely to take out car insurance without expensive collision coverage.

PostFinance car insurance coverage compared

A strong point of PostFinance car insurance is that it does not use a bonus/malus system. PostFinance is the second car insurance provider after Dextra to use this model. If a driver makes a claim, their premium does not go up. The insurance coverage itself is average. Its liability car insurance is standard as per Swiss law. Its comprehensive car insurance coverage is average, but not the most comprehensive available. Its agreed value rider for write-off compensation is not the most favorable available in Switzerland. Only the optional passenger insurance which can be added as a rider provides above-average benefits.

While PostFinance is an established financial services provider, both the car insurance it offers and its insurance underwriter are relatively new in Switzerland. For this reason, it is not yet possible to determine customer satisfaction or its efficiency in handling claims.

It is also important to note that there are additional factors which can influence car insurance costs. Premiums vary between car makes, engine size, models and ages. Your individual profile as a driver also affects premiums. Comparing car insurance premiums based on your specific situation is highly recommended.

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Editor Daniel Dreier
Daniel Dreier is editor and personal finance expert at