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Filipinos pride themselves on being careful, especially when taking care of expensive purchases.
In a time when we depend on gadgets almost 24/7, what will you do if your device unexpectedly gets damaged, lost, or stolen?
This is where gadget insurance comes into the picture.
Contents
What is Gadget Insurance?
What are the chances of you dropping your new iPhone in a bowl of Sinigang?
It may be slim, but it’s never zero. We’re not saying that you should be worried about this kind of incident, but you should also be prepared for the worst.
Gadget insurance or gadget protection can give you peace of mind if something unfortunate happens to your devices because this policy safeguards your devices against hazards.
Upon filing a claim, you will be paid for the damages obtained by your gadget, or you’ll be given a new unit.
Related: Types of Insurance Products in the Philippines
How much does Gadget insurance cost in the Philippines?
Gadgets come in all shapes and sizes, so it’s impossible to have the same policy for everything.
How much gadget insurance costs depends on how much your device is. It can range from less than Php100 to over Php1,500 per month.
Gadget Insurance vs. Manufacturer Warranty
Gadget insurance and manufacturer insurance are very similar, but it’s not the same.
Gadget insurance offers a more comprehensive coverage compared to manufacturer insurance because it covers loss, theft, accidental physical damage, and some of the manufacturer’s warranty exclusions.
Meanwhile, the manufacturer warranty only covers manufacturer defects and malfunctions. Manufacturer warranty can only be claimed up to a certain time upon the purchase of the device.
Best Gadget & Smartphone Insurance Providers in the Philippines
We’ve rounded up the best gadget and smartphone insurance providers you can avail of below.
Maya PH
Formerly known as PayMaya, Maya is an all-in-one finance app for every Filipino. It offers a secure and user-friendly digital banking experience powered by Maya Bank that helps you save, invest, and grow your money.
Maya has expanded its services to cover gadgets through Mobile Protect. Through this plan, you can enjoy quick repair, free delivery, and lasting coverage for your gadgets.
This plan can be availed by devices that are less than 14 days old. Gadgets older than 18 months must pass the Diagnostics Test to avail of this insurance plan
Coverage:
- Accident & liquid breakage
- Cracked screen
Price:
Price of device | Cracked Screen plan | Accidental andLiquid Breakage plan |
Php0 to Php5,000 | Php21/month | Php31/month |
Php5,001 to Php10,000 | Php53/month | Php79/month |
Php10,001 to Php15,000 | Php91/month | Php136/month |
Php15,001 to Php20,000 | Php126/month | Php189/month |
Php20,001 to Php25,000 | Php160/month | Php239/month |
Php25,001 to Php40,000 | Php223/month | Php333/month |
Php40,001 to Php60,000 | Php339/month | Php506/month |
Php60,001 to Php90,000 | Php512/month | Php765/month |
Php90,001 to Php120,000 | Php676/month | Php1,009/month |
Php120,001 to Php179,999 | Php1,053/month | Php1,572/month |
How to get this insurance:
Go to your Maya app. On the home screen, tap “more.” Under payments, click “protect,” and select “mobile protect.”
From here, choose the package you want to avail for your smartphone. Finally, provide your personal and phone details and pay using your account.
Bolttech
Formerly known as TecProtec, Bolttech is a world-leading insurtech business that offers dynamic insurance packages.
Thanks to Bolttech, you can enjoy insurance and protection packages that will give you peace of mind.
Bolltech offers easy repairs and switches for devices with customer experience in mind so you can live a better digital lifestyle at home or while you’re on the move.
Their repair package also includes pick up, repair, and delivery within 24 hours in major cities.
Coverage:
Repair:
- Pick up, repair, and delivery within 24 hours in major cities
- Accidental damage
- Water damage
- Out of warranty repairs
- Online service portal
Switch:
- Swap for any reason
- Delivered to your doorstep the next day/sooner
- Select from the same or similar devices
- Out of warranty repairs
- Online service portal
Trade-in:
- Trade-in for all used smartphones
- Credit towards the latest devices
- Real-time dynamic trade-in pricing
- Digital device diagnoses and valuation
Click-to-protect
- Instant digital protection for new and old phones
- Easy to use remote diagnostic tools
- AI-optimized customer experience
Upgrade:
- Upgrade device with the latest model
- Choose a model that meets your needs
- Freedom to change
- Online and customer care support
How to get this insurance:
Message Bolttech on Facebook
CHUBB
Considered the world’s largest publicly traded property and casualty insurance company, CHUBB provides mobile and portable gadget protection that is distributed in the Philippines through its partners.
We’ve listed some below.
Smart Gadget Shield
This program offers protection services for new and old Smart postpaid subscribers for accidental damage and theft.
It also offers Smart Protect in the event of the subscriber’s passing, wherein the beneficiary will receive Php80,000 to pay for the postpaid account, and the remaining amount will be given to the assignee.
Related: Best Postpaid Phone Plans in the Philippines
An additional Php80,000 will be given if the subscriber passes away due to a natural disaster.
Coverage:
- Accidental damage benefit
- Theft benefit
- Accidental death benefit
Globe Gadget Care
CHUBB is also the gadget insurance provider for globe postpaid subscribers, offering coverage for:
- Accidental damage
- Theft or robbery
- Device replacement (with worldwide coverage & next day delivery)
- Bill protect for death or temporary disability
How to get an insurance plan:
This plan is only available through smart stores and telesales, and it is free for the first 30 days. The insurance will take effect upon receiving a new smartphone under the new connect and retention transaction. A certificate of cover will be sent to your email to confirm the insurance policy.
Price:
Phone Price | Insurance Premium (per month) |
P5,000 and below | P90 |
P5,001 to P15,000 | P180 |
P15,001 to P30,000 | P300 |
P30,001 to P55,000 | P400 |
Esquire Mobile Protect
Esquiretech Corp. is an aftersales provider in the Asia
Pacific mobile phone market. They have partnered with Chubb Insurance Philippines
to create the 1+1 mobileprotect device protection program, which offers 1 year
extended warranty and 1 year accidental damage insurance.
Coverage:
Accidental damage:
- Liquid damage
- Cracked display
- Broken housing and external parts
Extended warranty:
- +1 year of repair coverage beyond the manufacturer’s warranty
- Free pick up and delivery
- Fast repair and return
Price:
Device price range | Fee |
P9,990-P15,000 | P1,450 |
P15,001-P20,000 | P1,815 |
P20,000-P25,000 | P2,175 |
P25,001-P30,000 | P2,540 |
P30,001-35,000 | P2,900 |
P35,001-P40,000 | P3,265 |
P40,001-P45,000 | P3,625 |
P45,001- P50,000 | P3,990 |
P50,001- P55,000 | P4,350 |
P55,001- P60,000 | P4,715 |
P60,001-P65,000 | P5,075 |
P65,001-P70,000 | P5,440 |
P70,001-P75,000 | P5,800 |
P75,001-P80,000 | P6,165 |
P80,001-P85,000 | P6,525 |
P85,001-P90,000 | P6,890 |
P90,001-P95,000 | P7,250 |
P95,001-P100,000 | P7,615 |
How to get this insurance plan:
- Contact 1+1 mobile protect on Facebook
- Call +63 2 8441 1188
- Email info@1plus1.com.ph
HomeCredit Mobile & Portable Gadget Insurance
CHUBB has also partnered with Home Credit, the fastest
growing consumer finance company in the country, for an insurance package to
meet the device insurance needs of Home Credit customers.
Coverage:
Repair or replacement of:
- Handsets
- Laptops
- Tablets
Damages covered:
- Accidental and liquid breakage
- Cracked screen
How to get this insurance plan:
This insurance is available for Home Credit customers as
part of their HC loan, and it is effective starting on the date of the loan
approval.
Related: Best Gadget Loans in the Philippines
Power Mac Center Protect Plus
Power Mac and Chubb have partnered to give consumers Power Mac Center Protect Plus. With this insurance, you can protect your newly purchased Apple device from any accidents.
Coverage:
- Accidental damage benefit:
- Any damage that renders the device unusable, such as, but not limited to cracked screen, and water damage.
- Accidental death benefit (P100,000 will be given to the customer’s family)
- Accidental medical expense benefit (up to P5,000 per incident)
- Worldwide coverage
Price:
Device | 1-year coverage | 2-year coverage |
iPhone 13 models | P8,290 | P13,090 |
iPhone 12 models | P6,390 | P10,090 |
iPhone 11 models | P4,390 | P6,890 |
iPhone X models | P4,190 | P6,590 |
iPhone SE | P3,890 | P6,090 |
iPhone 6s models | P2,390 | P3,790 |
iPhone 7 models | P2,390 | P3,790 |
iPhone 8 models | P2,390 | P3,790 |
iPod | P2,290 | P3,690 |
Apple Watch Series 7 | P3,190 | P5,090 |
Apple Watch Series 6 | P2,190 | P3,490 |
Apple Watch SE | P2,190 | P3,490 |
Apple Watch Series 4 | P2,190 | P3,490 |
Apple Watch Series 5 | P2,190 | P3,490 |
Apple Watch Series 1 | P1,590 | P2,590 |
Apple Watch Series 2 | P1,590 | P2,590 |
Apple Watch Series 3 | P1,590 | P2,590 |
iMac | P10,490 | P16,590 |
iMac Pro | P10,490 | P16,590 |
Mac mini | P5,090 | P7,990 |
Mac Studio | P15,990 | P25,290 |
MacBook | P8,890 | P14,090 |
MacBook Pro | P8,890 | P14,090 |
MacBook Air | P8,890 | P14,090 |
Apple TV | P1,390 | P2,190 |
Pro Display XDR | P15,990 | P25,290 |
Apple Studio Display | P15,990 | P25,290 |
iPad | P3,890 | P6,190 |
iPad Air | P3,890 | P6,190 |
iPad mini | P3,890 | P6,190 |
iPad Pro | P7,590 | P12,090 |
How to get this insurance plan:
This plan is available for customers of any Power Mac Center, or The Loop Store.
How to File Claims for Gadget Insurance in the Philippines
Each insurance plan has a different claims process, but it generally requires these steps:
1. Go to the nearest accredited service center in your area, or message them on Facebook. You can also call their hotline.
2. Inform the customer service personnel that you wish to avail of the gadget insurance policy for your device.
3. Fill out the necessary form and provide the required documents.
4. If your gadget needs repair, the service center attendant will oversee the repair process.
5. Once the repair is done, the service center will send the device back to your home. You can also have it delivered via courier.
Do You Really Need Gadget Insurance in the Philippines?
Gadget insurance can be a very good investment for your devices, especially if you have an expensive smartphone, laptop, or tablet.
However, there are some things to consider before getting gadget insurance coverage. Here are some questions that you may want to ask yourself.
What is your gadget worth?
How much would it cost you to buy the same gadget? The more expensive your gadget is, the more you should purchase gadget insurance coverage.
How long will you use the gadget?
The longer the gadget will be in your possession, the more likely it is to get damaged. That’s why you might want to consider getting gadget insurance.
What are the repair or replacement fees for your gadget?
Do you have the budget to handle gadget repair? Find out the repair fees from service centers in your area and assess your risk appetite.
Do you travel a lot?
This can be a good reason for you to get gadget insurance coverage. Traveling can be a risk factor for gadget damage and accidents.
For example, your gadget may get stolen while you’re on vacation.
Can you afford to lose your gadget?
How important is your gadget to you?
If your gadget is your primary means of communication or earning money, you might want to consider getting insurance.
Disclaimer: Grit PH strives to post up-to-date information on all investment, banking, and other financial products we feature. However, information may change without notice. Therefore, we do not guarantee the accuracy of the information listed on the website, including those provided by third parties at any particular time.
It is best to review the updated terms and conditions of your chosen financial institution. Grit PH is not affiliated with the companies mentioned in the article. All testimonials and opinions are representative only of the writer’s experience, but the results will be unique to each individual.
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