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5 Types Of Insurance Every Millennial Should Get

  • Highlights

  • Get financial assistance if you are stranded with holiday insurance

  • Invest in the best spectacles when you have spectacle insurance

  • Get worldwide card assistance 24x7 with a card protection cover

  • Get key replacement cover for your residence or vehicle keys

It is likely that you think you have a long way to go before you need insurance and that paying premiums is an unnecessary expense. However, buying insurance is a must. Life and health insurance have become a necessity with growing healthcare costs and increased risks to your life and health. These insurance policies ensure that you are prepared for emergencies and don’t have to part with a significant amount of money when faced with one. Similarly, there exist other insurance policies that you must buy, but don’t realise the need for. Take a look at 5 such policies that are essential for every smart millennial.

Holiday insurance

With holiday insurance, you can avail hotel and travel assistance up to Rs.50,000 and up to Rs.1,00,000 if you are vacationing abroad. This amount is interest-free for 28 days. This helps you if you are stranded, and provides for hotel and travel costs. Additionally, you can secure your finances with just one phone call, blocking your debit and/or credit cards in case they are lost or stolen. You can also enjoy complimentary coverage that holiday insurance offers for personal accidents, accidental hospitalisation, lost baggage, and more.

Spectacles insurance

As a millennial, you understand the importance of investing in quality spectacle frames and lenses. Such spectacles are expensive, but protecting your eyes from the blue light emitted from phone and computer screens, as well as UV rays, isn’t something that you should comprise on. Similarly, since it is an expensive purchase, you’re likely to pick frames that offer break- and scratch-resistant glass too. So, it only makes sense that you insure your investment. Getting spectacle insurance protects you from accidental loss as well as damage and theft. It also has a simple claim process. Now you never need to think twice about giving your eyes the care they deserve..

Card protection cover

With simple eligibility that only requires you to be over the age of 18, you can protect yourself from financial loss and fraud if your bank cards are misplaced or stolen. All you need to do is make one phone call to block all your cards when you buy card protection cover. Additionally, you can avail worldwide assistance 24x7. This means you need not worry about how to block your card when you’re travelling. What’s more, you can block your SIM card too, and avail complimentary cover amounting to Rs.1,00,000 against card fraud.

Key replacement insurance

Key replacement insurance covers key replacement in case your home or vehicle’s original keys are lost or stolen. The policy covers charges for a locksmith’s labour with regards to creation of duplicate keys and replacement of locks. It also offers break-in protection, and you may also get a reimbursement for a car rental service if the duplicate key takes more than 24 hours to make.

Watch insurance

Protect your watch from theft or loss by opting for watch insurance. Not only is this insurance easy to apply for, it also has inexpensive premiums and you can benefit from coverage up to Rs.50,000 in case your watch has been damaged accidentally or stolen. Additionally, with watch insurance, you can protect your timepiece from damage caused by earthquakes, floods, fires, strikes, and riots as well.

It is easy to see why it’s important to insure the items and experiences that you cherish. Bajaj Finserv is one financial institution that you can buy all these policies from, and avail scores of benefits by paying a nominal premium. In addition to these policies, you can also buy cycle insurance, trekking insurance and road trip insurance too. So without further ado, make a smart decision and protect what matters most to you.

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