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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.

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Types Of Insurance For Travel Gadgets: Phones, Laptop, Tablets

Travel insurance with coverage for gadgets Standalone gadget insurance plan
Coverage
  • Usually broader in coverage, and the gadgets claim benefits are often included in the “Personal baggage and personal effects” coverage benefits with limits i.e. a certain amount per article, pair or set of items, and a certain maximum claim amount for one unit laptop computer, or other types of gadgets
  • Examples of travel insurance plans with gadget coverage range from those which are known for higher overseas medical coverage to best flight cancellation benefits
Cost Higher premiums due to comprehensive travel coverage Generally lower premiums for gadget-only coverage
DeductiblesDeductibles may apply across various aspects, including gadget May have specific deductibles for individual gadgets
Additional benefitsOffers a range of benefits like trip interruption, baggage loss, and medical coverageLimited additional benefits beyond gadget coverage
FlexibilityLess flexibility for customisation, as it includes a broader range of coverage May offer more customisable coverage options for gadgets
Ease of purchasePurchased as part of a comprehensive travel insurance policy Easily purchased online or through gadget retailers
Claims processMay 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.

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10 Tips To Protect Your Travel Electronics

Invest in anti-theft solutions such as tracking apps or software that allow you to locate and remotely wipe data from your devices if they go missing. Some gadgets come with built-in tracking features.
Familiarise yourself with the terms and conditions of your travel gadget insurance policy. Knowing what is covered and excluded will help you make informed decisions and avoid unnecessary claims. Evaluate the cost-effectiveness of self-insuring certain gadgets. For less expensive items, it might be more economical to replace them out of pocket rather than paying insurance premiums.
Select a policy that aligns with your specific travel needs, and avoid over-insuring by opting for coverage that is tailored to your gadgets and the potential risks you may encounter during your trip.
Keeping a detailed inventory of your travel gadgets, including their serial numbers and purchase receipts will be really beneficial. By doing this, it can expedite the claims process and provide evidence of ownership.
Avoid reserving accommodations with no reviews and always take the time to read reviews when booking stays, whether it's at someone's home through couch surfing, in hostels, Airbnb, or hotels. It is also best to learn to prioritise reviews that address safety concerns, and consider those specifically written by women for a more nuanced perspective.
When not in use, store your gadgets securely so as to avoid leaving them unattended in public spaces, and utilise hotel safes or secure luggage compartments to minimise the risk of theft.
Understand the deductible amount associated with your insurance policy. A higher deductible often results in lower premiums, but be sure you can comfortably cover the deductible in case of a claim.
If you have multiple insurance needs (e.g., travel insurance, health insurance), consider bundling them with a single provider. This can often lead to discounts or reduced premiums.
Ensure that the coverage limits of your policy are sufficient for the value of your gadgets. If you have high-value items, you may need to purchase additional coverage or a separate policy.
In the event of loss, theft, or damage, report the incident to the local authorities and your insurance provider as soon as possible. Timely reporting can help your insurance provider streamline the claims process, which may mean that you’ll get your money back faster.

Best Travel Insurance With Travel Gadget Coverage (Phone, Laptop, Tablet)

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FWD Business

Med. Coverage (Overseas)
S$500,000
Trip Cancellation
S$10,000
Loss/Damage of Baggage
S$5,000
Total Premium
Total PremiumS$29.0725% Off
S$21.80

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• Enjoy 25% off your policy premium
• Get S$20 iShopChangi e-voucher and Eskimo Global 1GB eSIM with every policy purchased. T&Cs apply.
 
BONUS:
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Stand a chance to score:
1x Rolex Oyster Perpetual - 124200 34mm Silver (worth S$9,000)
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Valid until 21 May 2024
MoneySmart Exclusive
Most efficient claims for flight delay
MoneySmart Exclusive
Most efficient claims for flight delay

Tiq Savvy

Med. Coverage (Overseas)
S$500,000
Travel Cancelation
S$5,000
Loss/Damage of Baggage
S$2,000
Total Premium
Total PremiumS$3445% Off
S$18.70

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• Enjoy 45% off your Single Trip policy premium and 60% off Covid-19 add-on for Annual Plans. T&Cs apply
• Get S$10 iShopChangi e-voucher with every policy purchased. T&Cs apply.
 
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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.

Valid until 21 May 2024
MoneySmart Exclusive
$35,000 Lucky Draw | Best Value Plan
MoneySmart Exclusive
$35,000 Lucky Draw | Best Value Plan

Starr TraveLead Essential Bronze

Med. Coverage (Overseas)
S$200,000
Trip Cancellation
N/A
Loss/Damage of Baggage
N/A
Total Premium
Total PremiumS$20.2858% Off
S$8.52

[Win a Rolex, Samsonite Luggage & More! | MoneySmart Exclusive]
 
• Enjoy an exclusive 58% off your policy premium for a limited time only! Valid till 20 May 2024.
• Get an Eskimo Global 1GB eSIM with every policy purchased.
• Additionally, receive up to S$20 iShopChangi e-voucher with eligible premiums spent. T&Cs apply.
 
BONUS:
For a limited time only, there are over S$11,000 worth of prizes to be given away in our Grand Draw.
Stand a chance to score:
1x Rolex Oyster Perpetual - 124200 34mm Silver (worth S$9,000)
1x Samsonite Robez 68/25 EXP (worth S$550) weekly
 
Increase your chances of winning when you refer friends today. T&Cs apply

Valid until 20 May 2024
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Best Medical Coverage
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Best Medical Coverage

Allianz Travel Silver

Med. Coverage (Overseas)
S$500,000
Trip Cancellation
S$5,000
Loss/Damage of Baggage
S$3,000
Total Premium
Total PremiumS$4657% Off
S$19.78

[Receive your cash as fast as 30 days*]
 
• Enjoy an exclusive 57% off your policy premium
• Get an Eskimo Global 1GB eSIM with every policy purchased.
• Additionally, receive up to S$40 via PayNow and up to S$20 iShopChangi e-voucher with eligible premiums spent. T&Cs apply.

Valid until 21 May 2024
MoneySmart Exclusive
$35,000 Lucky Draw | Most Comprehensive
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$35,000 Lucky Draw | Most Comprehensive

MSIG TravelEasy Standard

Med. Coverage (Overseas)
S$250,000
Trip Cancellation
S$5,000
Loss/Damage of Baggage
S$3,000
Total Premium
Total PremiumS$3845% Off
S$20.90

[Win a Rolex, Samsonite Luggage & More! | MoneySmart Exclusive]
 
• Enjoy up to 45% off your policy premium
• Get an Eskimo Global 1GB eSIM with every policy purchased.
• Additionally, receive up to S$45 via PayNow OR 1 x Apple AirTag (worth S$45.40) and up to S$20 iShopChangi e-voucher with eligible premiums spent. T&Cs apply.
 
BONUS:
For a limited time only, there are over S$11,000 worth of prizes to be given away in our Grand Draw.
Stand a chance to score:
1x Rolex Oyster Perpetual - 124200 34mm Silver (worth S$9,000)
1x Samsonite Robez 68/25 EXP (worth S$550) weekly
 
Increase your chances of winning when you refer friends today. T&Cs apply

Valid until 21 May 2024
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.