European Digital Bank N26 Expands Insurance Benefits for Clients

The Mobile Bank N26 announced new insurance services for ‘You’ and ‘Metal’ personal and business account holders.

With more customers using N26 as their everyday bank account, the new offering aims “to provide premium customers a comprehensive coverage plan to better protect against unexpected events in their daily transactions.”

The changes “include brand new benefits, improvements to existing benefits, as well as ‘metal’ account holders exclusive benefits.”

Will Sorby, Director of Product at N26, said:

“Our mission is to build the bank the world loves to use. With this, we are constantly improving our offering so that customers can not only make transactions with ease, but also do so with that extra peace of mind. Our new insurance offering for premium account holders is designed to support our customers’ most pressing needs with comprehensive coverage that includes travel and lifestyle.”

Improved travel insurance for premium account holders and their traveling companions With summer trips just around the corner, N26 has “updated its travel insurance to ensure ‘Metal’ and ‘You’ account holders are even better protected in the event of disruptions to their travel plans.”

With this update, travel delays will be “covered after just a two hour delay (instead of four) and baggage delay after four hours (instead of twelve).”

Additionally, the coverage now “includes personal liabilities up to 500.000€ per trip and expands to include premium account holders’ families and/or traveling companions.”

N26 travel insurance will “continue to cover costs due to baggage and travel delays (up to 500€), baggage theft and disappearance (up to 2.000€), medical emergencies including sport accidents (up to 1.000.000€), trip cancellations and interruptions (up to 10.000€).”

‘Metal’ exclusive benefits “include expanded mobile protection and new purchase protection One of N26’s most popular insurance offers, mobile phone coverage, also includes new improvements.”

‘Metal’ customers can now “claim back twice as much as they used – up to 2.000€ – in case of theft or damage of a mobile phone that is less than two years old.”

In addition to the improvements of existing coverages, a new benefit “has been added for ‘Metal’ customers: accidental damage or theft is now covered up to 2.500€ per claim for a new purchased good with a minimum value of 100€.”

For all N26 insurance offerings, with the exception of purchase protection, it is “no longer mandatory to use the N26 card for the item or activity to be insured.”

The updated insurance offerings are now “offered to new customers in all of our markets. Existing customers will have access to the new and improved benefits over the coming weeks.”

As covered, N26 claims that it is today “one of the fastest-growing digital banks in the world. As a fully-licensed German bank built on the latest technology,”

N26 reportedly “makes banking faster, easier and more trustworthy.”

Founded by Valentin Stalf and Maximilian Tayenthal in 2013, N26 has “welcomed more than 8 million customers in 24 markets to date and has raised close to US$ 1.8 billion from some of the world’s most renowned investors.”

Headquartered in Berlin, N26 “has offices in multiple cities around Europe, including Vienna and Barcelona.”

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