Why You Should Get Insurance For Your Tech Gadgets (And Best Plans To Choose)

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Raise your hand if you’ve ever been personally victimised by your own butterfingers. It’s time to protect your tech toys with these insurance plans.

Say what you will about mobile phones, laptops, tablets and the increasing number of tech gadgets that dominate our attention. They are the sure-fire cure to our collective malaise (particularly during our COVID-stricken times) and have evolved from a mere communication device to being an extension of ourselves. 

Even our credit cards are linked to our phones and wearable devices.

However, despite its ubiquity, it is also extremely susceptible to common mishaps brought by butterfingers and gravity such as water damage, cracked screens and general wreckage.

Not to mention loss and theft as well (sigh, we’ve all been there).

Gadget insurance 101

Enter mobile or gadget insurance, which works just like any old insurance plan you’ve probably signed up for. It protects your beloved devices financially from unforeseen damages, loss and theft.

Bottom line? Seeing how fragile it is, a gadget insurance plan is probably worth your while. If you need more convincing, here’s why phone insurance is all it’s cracked up to be.

It costs less than the price of those fancy ‘unbreakable’ covers 

The steep price of a fancy phone cover with indestructible qualities may seem splurge-worthy at first glance. Take the popular protective case brand, OtterBox. It’s Aneu Series Case with MagSafe for iPhone 12 comes with a $74 price tag. That’s a little on the high-end considering you can get phone insurance from as low as $7 a month, complete with the bells and whistles that ensure your device is extensively protected (if you sign up for a telco mobile insurance plan, that is).

Get a free replacement delivered to your door, stat

Another thing your branded protective case can’t provide: In the event of an unfortunate freak accident where your phone is in a state of beyond repair and the only solution is to get a replacement, being covered by phone insurance means you can easily get it replaced without feeling the pinch of buying a brand new iPhone 12. Some plans are so speedy that they even promise to get your replacement delivered to your door in 4 hours. That’s right, you won’t have to worry about being alone with your thoughts for too long.

Say goodbye to pesky phone repairs 

Phone repairs are an expensive affair, and when push comes to shove we tend to be frugal and hold off the repair even when it means carrying on with a compromised phone screen — hey at least it works right?

Unsurprisingly, a 2015 study by OtterBox found that 7 in 10 Singaporeans would not repair a cracked screen and prefer to leave it be. 4 in 10 would rather not spend on phone repairs at all. 

This is understandable considering that replacing an iPhone 12 screen will set you back $419. That’s a lot of coffee runs.

If the above findings describe you to a tee, mobile or gadget insurance may just be the answer to your woes.

Don’t have to risk going to dodgy third party repair shops 

Much like, say, a sports car in need of some servicing, you would want to go to reputable car workshops with a spotless track record and happy clients. The same philosophy should be extended to devices as essential as your phone or laptop. Although cheaper repair alternatives out there may be enticing, it’s questionable track record could potentially put your device at risk. With insurance coverage, you don’t have to worry about making that choice ever again.

You can get insurance coverage for your mobile wallet

Besides physical damages, there’s also possible financial risks. It’s safe to assume that we all have our credit cards and bank accounts linked to our devices that make everyday transactions easier. But should our device fall in the wrong hands, our digital wallets could be exposed to unauthorised transactions. Some phone insurance plans (like DBS’ Mobile Protect) for precisely that, with coverage for cash withdrawn from your mobile wallets such as PayLah! (up to $100 per claim).

Best gadget insurance in Singapore

Now that we’ve explored the reasons why you getting insurance coverage for your gadgets is actually good for your wallet, let’s compare the plans out there and see which is the best one for you.


CITI Lifestyle GuardMobile Protect by DBSPhone Protect360 by HL Assurance
Monthly premium$17.20$15$12
CoverageTheft and damage, worldwide protection for your personal belongings including phone, laptop and moreLoss, accidental damage and theft, worldwide protection, replacement of important documents, unauthorised usage of data and airtime

Caveat: for phones only
Theft, accidental damage, door-to-door express service, phone replacement




Caveat: for phones only
Covers unauthorised withdrawals from digital walletsNoYes (up to $100)No

Discover the cheapest mobile insurance plans on the market right here.

Read these next:
Mobile Phone Insurance: What Does It Cover And What Are The Cheapest Plans?
12 Things You Can Buy With The Money Spent On An iPhone 12
Best SIM-Only Mobile Plans For Light, Moderate, And Heavy Data Users
SIM Only vs Fixed Contract: Which Is The Best Mobile Plan For Me?
Insurance Savings Plans: Singlife Account vs GIGANTIQ vs SingTel Dash EasyEarn


By Marissa Saini
Your friendly neighbourhood cat enthusiast who enjoys not being broke. Spend less, save more is the name of the game. Firm believer that being financially savvy is not about the destination, but the friends you make along the way.