Can my insurance company deny benefits if I make claims late?

I finally got around to making a claim for something which was stolen a few weeks ago. My insurance provider wrote me back saying that they will not pay the claim because I didn't inform them about the theft right away. They referenced a clause in the insurance agreement which says that I should inform them immediately when an incident occurs. Can they deny my benefits because I didn't claim fast enough?

Hi there,

In Switzerland insurance companies are required to settle claims even when claims are not made on time in keeping with an insurance agrement. However, when a claim is made later than the agreed-on declaration period, the insurance company can limit the benefit to the amount which would have applied at the time that the claim should have been made. In the event that greater damage has occured in the meantime, the additional damage may not be covered.

Best regards from Moneyguru

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