Protection needs change from one generation to another. The millennial unlike the Baby Boomers and X have different interests and characteristics of life that motivates them to seek insurance best suited to their profile. They are a generation more concerned about their protection; they wonder and understand the importance of insurance. Because of their status as freelancers or self-employed, their income is limited and not fixed to have complete protection.
In addition to these characteristics, Everis and the Mexican Association of Insurance Institutions (AMIS) report in their latest study that millennial have a constant exposure to technology, manage their finances through their cell phone, invest And buy online, understand their importance as consumers and one of their main hobbies is to travel. In addition, insurers must attend to these particularities.
The industry has launched products that you can already buy by phone or the internet. However, the evolution is in process. While that happens, specialists recommend protecting you and you can start by ensuring these four areas:
Technological devices are key allies of this generation, so you must protect them. For a monthly premium of between 52 and 189 pesos, you can have a sum insured from 3,000 to 20,000 pesos to cover the violent robbery of your personal items such as cell phone, tablet, and laptop or music player. If you want to insure only, do it directly with the operating company that sold you. They will cover composting and total theft, Lopez suggests.
If your means of transport is the bicycle, you can insure against material damages, total theft and civil liability (up to 50,000 pesos). In addition, insure yourself in medical expenses by accident (from 25,000 to 75,000 pesos with a deductible of 1,000 pesos per event) and receive compensation for accidental death (from 25,000 to 75,000 pesos). For example, the cost of insurance for a bike of 3,000 pesos ranges from 350 pesos to 685 pesos per year, depending on the coverage you choose.
Travel insurance offers compensation for loss of luggage, cancellation of travel, medical and dental care. Shipping of medicines that cannot be obtained at the place of stay and expenses that the delay of the luggage can cause to the insured. Its cost represents 1% of the total cost of the trip, according to data from the insurance company Allianz Global Assistance. The average cost for a national trip is from 298 pesos and for international travel from 643 pesos.