Best Travel Insurance For Travel Gadgets: How To Choose & Tips
Nowadays, most of us carry an array of gadgets when we travel overseas — be it an RFID-blocking wallet, an iPad, or a laptop and of course your smartphone. The indispensable role of these gadgets in managing travel details and bookings cannot be overstated because of the great convenience they provide for us.
Yet, travelling with these valuable possessions exposes us to risks we wouldn't typically face, such as accidental damage, theft, or loss, potentially leaving you accountable for repair or replacement costs. If your tech items hold a value that exceeds a significant threshold for you, obtaining supplementary coverage is advisable. In this guide, we’ll give you a hand at picking the right one for your travel gadgets.
Types Of Insurance For Travel Gadgets: Phones, Laptop, Tablets
| Travel insurance with coverage for gadgets | Standalone gadget insurance plan | |
|---|---|---|
| Coverage |
|
|
| Cost | Higher premiums due to comprehensive travel coverage | Generally lower premiums for gadget-only coverage |
| Deductibles | Deductibles may apply across various aspects, including gadget | May have specific deductibles for individual gadgets |
| Additional benefits | Offers a range of benefits like trip interruption, baggage loss, and medical coverage | Limited additional benefits beyond gadget coverage |
| Flexibility | Less flexibility for customisation, as it includes a broader range of coverage | May offer more customisable coverage options for gadgets |
| Ease of purchase | Purchased as part of a comprehensive travel insurance policy | Easily purchased online or through gadget retailers |
| Claims process | May involve a more complex process, considering various coverage aspects | Streamlined process focused on gadget-related claims |
Typical Travel Insurance Limits & Exclusions For Your Travel Gadget
Travel insurance policies in Singapore often provide coverage for personal belongings, including travel gadgets, but there are limits and exclusions that you should be aware of.
Typical coverage limits and exclusions for travel gadgets might include:
- Overall limit: There is usually a maximum limit on the total amount reimbursed for lost, stolen, or damaged items, including gadgets.
- Per item limit: There might be a maximum amount that the insurance will pay for each individual gadget.
- Depreciation: Some policies might factor in the depreciation of the item's value over time. For example, for older gadgets, the coverage might be less than the original purchase price.
- Unattended items: Gadgets left unattended in public places or in an unsecured area might not be covered.
- Wear and tear: Insurance typically doesn’t cover damages due to wear and tear or pre-existing conditions of the gadget.
- Excluded items: Some policies might specifically exclude certain high-value or specialised gadgets like drones, expensive cameras, or other professional equipment.
10 Tips To Protect Your Travel Electronics
Best Travel Insurance With Travel Gadget Coverage (Phone, Laptop, Tablet)
FWD Business
- Med. Coverage (Overseas)
- S$500,000
- Trip Cancellation
- S$10,000
- Loss/Damage of Baggage
- S$5,000
- Total PremiumTotal Premium
S$29.0725% Off - S$21.80
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• Enjoy 25% off your policy premium and 2,400 My Millennium Points (worth S$16) with every policy purchased. T&Cs apply.
BONUS: For a limited time only, stand a chance to score over S$10,000 worth of prizes in our Grand Draw.
• Rolex Oyster Perpetual - 124200 34mm Silver (worth S$9,000)
• All Expenses Paid Trip
• 2D1N Staycation at any Millennium Hotels and Resorts and 15,000 My Millennium Points (worth up to S$550)
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T&Cs apply.
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Tiq Savvy
- Med. Coverage (Overseas)
- S$500,000
- Travel Cancelation
- S$5,000
- Loss/Damage of Baggage
- S$2,000
- Total PremiumTotal Premium
S$3440% Off - S$20.40
[MoneySmart Exclusive]
• Enjoy 40% off your Single Trip policy premium and 60% off Covid-19 add-on for Annual Plans. T&Cs apply
• Additionally, receive 2,400 My Millennium Points (worth S$16) with every policy purchased. T&Cs apply.
[Etiqa's 10th Year 2024 Grand Draw]
Stand a chance to win S$10,000 cash or a Singapore Mint Lunar Dragon 1 gram 999.9 fine gold medallion (worth S$173) with eligible Etiqa/Tiq by Etiqa plans purchased. T&Cs apply.
Starr TraveLead Essential Bronze
- Med. Coverage (Overseas)
- S$200,000
- Trip Cancellation
- N/A
- Loss/Damage of Baggage
- N/A
- Total PremiumTotal Premium
S$20.2850% Off - S$10.14
[Win a Rolex, Dream Vacation & More! | MoneySmart Exclusive]
• Enjoy 50% off your policy premium and 2,400 My Millennium Points (worth S$16) with every policy purchased.
• Additionally, receive up to S$45 via PayNow OR 1 x Apple AirTag (worth S$45.40) with eligible premiums spent. T&Cs apply.
BONUS: For a limited time only, stand a chance to score over S$10,000 worth of prizes in our Grand Draw.
• Rolex Oyster Perpetual - 124200 34mm Silver (worth S$9,000)
• All Expenses Paid Trip
• 2D1N Staycation at any Millennium Hotels and Resorts and 15,000 My Millennium Points (worth up to S$550)
Increase your chances of winning when you refer friends today.
T&Cs apply.
Allianz Travel Silver
- Med. Coverage (Overseas)
- S$500,000
- Trip Cancellation
- S$5,000
- Loss/Damage of Baggage
- S$3,000
- Total PremiumTotal Premium
S$4655% Off - S$20.70
[Receive your cash as fast as 30 days*]
• Enjoy an exclusive 55% off your policy premium and 2,400 My Millennium Points (worth S$16) with every policy purchased.
• Additionally, receive up to S$35 via PayNow with eligible premiums spent. T&Cs apply.
MSIG TravelEasy Standard
- Med. Coverage (Overseas)
- S$250,000
- Trip Cancellation
- S$5,000
- Loss/Damage of Baggage
- S$3,000
- Total PremiumTotal Premium
S$3855% Off - S$17.10
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3 DAYS FLASH SALE: Enjoy 55% off your Single Trip policy premium when you apply promo code TRAVEL55. Valid till 28 Apr 2024.
• Enjoy 20% off your Annual Plan policy premiums (no promo code required). Valid till 6 May 2024.
• Get 2,400 My Millennium Points (worth S$16) with every policy purchased.
• Additionally, receive up to S$45 via PayNow OR 1 x Apple AirTag (worth S$45.40) with eligible premiums spent. T&Cs apply.
BONUS: For a limited time only, stand a chance to score over S$10,000 worth of prizes in our Grand Draw.
• Rolex Oyster Perpetual - 124200 34mm Silver (worth S$9,000)
• All Expenses Paid Trip
• 2D1N Staycation at any Millennium Hotels and Resorts and 15,000 My Millennium Points (worth up to S$550)
Increase your chances of winning when you refer friends today.
T&Cs apply.
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- Med. Coverage (Overseas)
- S$250,000
- Trip Cancellation
- S$5,000
- Loss/Damage of Baggage
- S$3,000
- Total Premium
- final-price
Frequently Asked Questions
How can I get insurance coverage for my travel gadgets?
- One of the easiest ways to get travel insurance is through your preferred travel insurance mobile app. Other ways include purchasing your travel insurance via an airline or travel insurance company’s website or by contacting your insurance agent. If you prefer to do it yourself via a comparison platform like MoneySmart, you’ll be able to do a quick comparison of the best rates available for you.
Are standalone travel gadget insurance plans more expensive than typical travel insurance?
- No. Most of the time, standalone gadget insurance plans tend to be cheaper and generally have lower premiums for gadget-only coverage, unlike most travel insurance plans which offer higher premiums due to more comprehensive travel coverage which may or may not include coverage for your gadgets.