"Lifestyle" Insurance in Balcia's Offering. The Insurer to Sell Online Policies for Cyclists, Among Others

The original article was written by Ida Krzemińska-Albrycht, reknown Polish insurtech journalist and published in Cashless.pl

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The insurer's offerings now include the City Combo package, which covers personal accident insurance (NNW), third-party liability (OC), and vehicle damage insurance (casco) for vehicles like scooters and bicycles.

Balcia has launched online sales of what it calls "lifestyle" insurance products. On its new website, customers can purchase policies tailored for micro-mobility enthusiasts, sports participants, as well as more traditional insurance such as accident aftermath, private life liability, and home insurance.

According to cashless.pl, the pilot sale started earlier this summer, but now a broader promotion of the offer is expected. The range includes products like City Combo, Junior, NW, Extreme, OC in life, and House Combo. The insurer's website also indicates plans to add travel insurance and car liability (OC) and comprehensive (AC) insurance.

The City Combo package is designed for users of transportation modes like bicycles, scooters, and skateboards. It covers accidents, compensates for damage or loss of the vehicle due to random events or third-party actions, and includes civil liability for the insured and their partner. Insurance amounts vary depending on the chosen option, ranging from 5,000 PLN to 15,000 PLN for each risk, translating to a monthly premium of 11.99 PLN to 19.99 PLN. The policy is noted for minimal formalities and the ease of activating or deactivating the service.

Junior policies provide protection for individuals under 18 against accidents, specifically targeting young athletes. The coverage includes accidents during competitions or the necessity to withdraw from a sports camp due to injury. Maximum payouts for health impairment depend on the chosen variant, ranging from 15,000 PLN to 50,000 PLN. Different amounts are set for disability or death and civil liability coverage (from 25,000 PLN to 60,000 PLN). Compensation limits for medical expenses range from 2,500 PLN to 10,000 PLN, with monthly premiums varying from 11.08 PLN to 26.42 PLN.

Similar coverage scopes, but with different insurance amounts, are expected from NW and Extreme policies.

Operating in Poland since 2009 as a branch of a Latvian insurance company, Balcia has been functioning under the Balcia brand since 2016, after changing its name from BTA. Until now, the company has primarily specialized in vehicle insurance.

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