A person’s lifestyle is not only defined by their way of life but also by how they have integrated certain luxury items into their lives. Hence, to ensure financial as well as lifestyle security, lifestyle insurance can be a way to secure someone’s way of living. When you buy a luxury item like a phone or a laptop, you are provided with a basic warranty for a certain period. Post that period, if that item is damaged or lost, it may incur a huge loss to the owner. This is where lifestyle insurance comes in handy. Lifestyle insurance protects a person's possessions and way of life, ensuring that unforeseen events like theft or accidents cause as little inconvenience and financial loss as possible.
Some items prone to get stolen easily are certain luxury items like eyewear, handbags, sanitary fittings, and baggage among others
When items like purses or premium handbags get damaged or lost, it can be very costly to repair or replace them. With the help of lifestyle insurance plans, you can get coverage for these financial losses. In case of cancellation of an event, the lifestyle insurance plan can help you get coverage for a set premium.
With Lifestyle Insurance Plans, you can get several add-on benefits like coverage for accidental damage of items or damage due to natural disasters.
On the website of Bajaj Markets, you will find several types of lifestyle insurance like -
Several types of Lifestyle Insurance Plans are provided at Bajaj Markets. You may apply for a policy based on your needs. Before your final application, you must check all the benefits, features, inclusions, and exclusions of the plan.
The insurance policies given under lifestyle insurance provide extensive coverage at reasonable costs. For instance, for a premium of just Rs. 599, you can get a baggage insurance plan that would provide coverage of up to Rs. 50,000 in the event that your baggage is stolen.
These insurance plans are designed to provide additional coverage that is typically not offered by conventional policies. This covers a wide range of insurance products in the areas of wellness, travel, lifestyle, and health, among others.
Bajaj Markets provides repair or replacement as a part of some of their plans, like Eyewear Assure Insurance. They also provide complimentary coverage on such plans.
Different plans have the facility to block all card payments at once in case of wallet/card theft or misplacement. You can simply dial the toll-free number 1800-419-4000 and claim the insurance.
Certain Insurance Plans like Wallet Insurance provide additional benefits like premium subscriptions to OTT platforms at a set premium.
There are certain things that you should think about before choosing the correct lifestyle insurance plans -
Understand your goals - Individuals may have different goals. With the aid of a proper life insurance policy, you must make plans for your lifestyle insurance objectives.
Calculate the amount of insurance coverage you may require - According to financial advisors, you should have lifestyle insurance coverage that is suitable for your needs.
Determine the cost - The amount of premium you must pay for the necessary quantity of lifestyle insurance must be calculated before the final purchase. Find a policy that delivers the best coverage at a price that fits your budget by comparing several policies. You can find some best policies on the Bajaj Finserv website.
Select a comprehensive plan - Choosing a comprehensive plan with acceptable terms and conditions is crucial as several different lifestyle goods policies are available.
Bajaj Markets offers the best prices for lifestyle product insurance plans. It offers different insurance plans like wallet care, eyewear insurance, shoe insurance, purse insurance, watch insurance, luxury sanitary fittings insurance, handbag insurance, and much more.
A variety of goods are available on Bajaj Markets, a comprehensive online market, to meet all of your financial needs. We have teamed with prominent insurance providers to provide a one-stop shop for various lifestyle insurance plans and products.
You may look at various insurance products with Bajaj Markets that fall under the Lifestyle Insurance category.
Depending on your financial needs, the Bajaj Markets platform provides a simple option to buy insurance plans with flexible payment options.
Our customer care team and experts provide 24/7 service for any kind of disruptions that you may experience. You may reach out via e-mail or call 020-71634200 for further assistance.
The following list consists of all the inclusions of the Lifestyle Insurance Plans -
Cancellation of an event due to official mourning or any kind of damages caused due to prop, set, or wardrobe malfunctions.
Accidental damage of an item
Damage of an item due to a natural disaster.
Loss of an item due to theft.
PAN card replacement
Easy card/SIM blocking
Emergency travel assistance
The following list consists of the exclusions or what’s not covered under the Lifestyle Insurance Plans -
Damage due to personal reasons/intentions
Wear and tear damage
Damage due to mechanical or electrical failure
Damage caused under intoxications
Damage due to act of terrorism
Damage due to pollution
Damage of an item that is older than the required timeline of the insurance plane.
Damage or cancellation of an event due to personal reasons, political disturbances, weather conditions, or government interference.
You can easily buy a Lifestyle Insurance Plan via the simple steps mentioned below -
Visit the product page of the insurance you wish to buy, and click on ‘Buy Now’.
You need to fill in the application form with the necessary details that will be required to approve the application.
Once your application is complete, you can make an online payment for the premium with the flexible payment options available.
There are certain factors that you must keep in mind before you buy your insurance policy –
The amount for which you will be insured is the most important factor to consider. The sum guaranteed must be selected prior to the start of the policy.
Your policy will be in force throughout this period. Different terminology can be found in lifestyle insurance plans. Your premium may be reduced the longer the insurance is in effect.
Make sure to pay attention to the policy's perks. These might be extras, conditions, etc. Before purchasing, be sure your coverage includes these advantages.
The life insurance plan needs to be adaptable. These can include giving customers a variety of payment alternatives, giving them the freedom to select their preferred payment method and time frame, etc. A policy is easier for you to modify to fit your needs the more flexible it is.
The inclusions and exclusions you are entitled to and those you cannot use are specified in a policy's inclusion and exclusion clauses. Therefore, before selecting an insurance plan, one should be clear on both of these issues.
When a product or service for which the lifestyle insurance policy has been bought is damaged, a claim can be made with the insurance company via -
Contact Bajaj Markets via the toll-free number 1800-209-5858.
E-mail at email@example.com
Visit the website and submit the necessary documents.
Some important documents are required to claim the insurance policy -
Appropriate claim form that is duly signed.
FIR copy if any.
Original bill or Invoice copy or purchased item.
Certain high-end products can be collector’s items for many people; since they’re expensive products, it is difficult to get them repaired if they are damaged or lost. This is why you should get a lifestyle insurance policy which will help you get a payout in case of these circumstances.
Once you understand which lifestyle insurance policy suture requirements the most, you may go on the ‘know more’ button and understand what they cover and their prices.
Yes, you can buy and claim policies online. You must fill in all the required details to buy policies and make an online payment. And if you want to claim an insurance policy, you must contact your insurance company within the first 24 hours of the accident and make an online claim.