For millennials, insurance isn’t always top of mind until something unexpected happens. As a generation raised on instant gratification, the whole “pay now, maybe get something back later” mentality of traditional insurance can feel a bit outdated. When juggling responsibilities like student loans, rent hikes, and the daily grind, adding another monthly bill can feel overwhelming. Plus, social media doesn’t help with all those horror stories about claim rejections and endless paperwork.
“Here’s the reality, when that “maybe” turns into a definite “Oh no,” having the right insurance can be a lifesaver or at least a financial game-changer. Millennials tend to undervalue insurance until a personal loss is experienced. Maybe it’s because they haven’t witnessed the devastating financial impact of a major accident or theft first-hand,” says Joe Szemerei, Chief Operations Officer of financial services company, Indwe Risk Services.
It’s time to break down the barriers and hesitations we have with insurance. Insurance isn’t the enemy. It’s there to protect you from major financial blows when unexpected things happen. Think of it as a safety net – a financial cushion that catches you when life throws you a curveball.
“At Indwe, we get it. We know where you’re coming from, and we’re all about breaking down those barriers with clear, straightforward information. We want to help you understand the ins and outs of insurance so you can make choices that work for you,” says Szemerei.
Here’s a comprehensive checklist that will help you level up your adulting and protect you from life’s little (and not-so-little) curveballs:
House Content
Whether you’re a renter or a homeowner, protecting your space and belongings is non-negotiable. House Content covers your personal property in case of fire, theft, or water damage. This coverage ensures that your valuables are safe even when the unexpected happens.
Vehicle Insurance
Owning a car comes with its own set of risks. Vehicle insurance includes liability, collision, and comprehensive cover, protecting you in various situations, from accidents to theft. Liability coverage protects you if you’re responsible for an accident, while collision cover handles repairs or replacement if your car is damaged. Comprehensive insurance also covers non-collision-related incidents like theft, vandalism, or natural disasters.
Pet Insurance
Pets are part of the family and their health and well-being matter. Pet insurance protects your furry friends against accidents and illnesses, ensuring they receive the best possible care without financial strain. Veterinary costs can be high, but with insurance, you can provide them with necessary treatments and surgeries.
Electronic Equipment Insurance
In today’s digital age, electronic devices are essential. Electronic equipment insurance covers damage, theft, or loss of your gadgets, ensuring you remain connected. Whether it’s your smartphone, laptop, or tablet, having insurance means you can quickly replace or repair your devices without financial stress.
Travel Insurance
Exploring the world is exciting, but it comes with risks. Travel insurance protects you against financial losses and risks while you’re away from home. From trip cancellations to medical emergencies abroad, travel insurance ensures you can handle unexpected situations without derailing your travel plans.
Disability Cover
Disability coverage is critical, especially for young professionals. It pays a lump sum if you are ill or injured and cannot work again due to a permanent disability. This ensures you have financial security and can maintain your quality of life, even if you are unable to continue your career.
Life Insurance
Life insurance is crucial, particularly if you have dependents. Through its partner, Indwe BlueStar an authorised Financial Services Provider in life insurance (FSP 6832), Indwe provides financial support to your loved ones in case of your untimely death, ensuring they are not left struggling financially. It’s about peace of mind, knowing that your family will be taken care of no matter what.
To speak to a broker for their expert guidance, contact Indwe on 0860 13 13 14 or email at: indwe@indwe.co.za.
