Upgrade Your Shopping Experience: Why Adding Insurance to Your Cart is a Smart Move This Season

 The holiday season is all about finding that perfect gift, whether for yourself or someone else. With holiday online sales on the horizon, it’s the ideal time to score great deals on high-value items. Electronics like smartphones, tablets, and gaming consoles are in high demand, along with bags, watches, beauty products, and high-quality appliances. While these items bring excitement and joy, they also come with some risks—accidental damage, theft, and unexpected malfunctions can turn a valuable purchase into a stressful situation.

Regional insurtech Igloo understands these concerns and–together with its partners–have provided ways to protect valuable purchases with accessible, comprehensive insurance solutions. By offering instant coverage for everything from tech gadgets to beauty products, Igloo works with leading e-commerce platforms and insurance underwriters to empower holiday shoppers to add a layer of care to each gift, covering accidental damage, theft, and breakdowns so buyers and their recipients can enjoy their gifts with full peace of mind.

Whether you're gifting tech or timeless accessories, adding insurance to these items could be the ultimate extra that makes your gift even more meaningful. Here are some reasons you should consider adding an extra layer of protection to your gifts this season.

Protection Against Everyday Mishaps

Holiday gifts, especially high-value items, are often at risk of accidental damage or loss. New smartphones, laptops and other electronics are stunning but also delicate. Accidents can happen anytime—a smartphone might slip from someone’s hand, a tablet might suffer water damage, or a high-end appliance might experience an unexpected breakdown.

For instance, Gadget Protection provides comprehensive device coverage, including accidental and liquid damage, with access to professional repairs at authorized centers, available via GInsure and Lazada. Additionally, Cracked Screen Protection offers up to 12 months of coverage for screen damage from accidental impacts for phones and accessories purchased on Shopee, giving recipients peace of mind with their new devices.

Products that fall under these plans and are sold on Lazada and Shopee are available at checkout, making it seamless for shoppers to add insurance coverage to their purchases.

Financial Security for Pricier Gifts

Many premium items come with a high price tag. High-tech electronics, luxury fashion, and specialized gadgets are significant investments, and without insurance, repairs or replacements can be costly.

For non-electronic products, Igloo and Etiqa offer Merchandise Protection, a plan that protects Lazada orders from accidental damage and theft, ensuring peace of mind for a wide range of valuable purchases.

Beyond Standard Warranties

Standard manufacturer warranties typically cover only specific defects or malfunctions and often have significant limitations. They usually do not address the risks associated with adverse reactions to beauty products, which can be particularly concerning. While we want our loved ones to enjoy their gifts, the reality is that there is always a risk that the product may not work for them, and in rare cases, they can have reactions to cosmetics and lotions which can lead to discomfort or even serious health issues.

Product Liability Protection is available for beauty products purchased on Lazada to address these concerns. Underwritten by Liberty Insurance, this coverage protects consumers from chemical burns and severe allergic reactions, including anaphylaxis, resulting from product use. By opting for this insurance, consumers safeguard their well-being and gain access to valuable resources such as teleconsultations, medical reimbursements, and emergency hospitalization, providing peace of mind while indulging in their beauty routines.

As you shop this season, remember that the value of each purchase can be elevated with the added assurance of insurance. By protecting your items, you bring peace of mind and ensure enjoyment without the worry of unexpected mishaps. With accessible and comprehensive insurance solutions from Igloo and its partners, you can make each purchase even more meaningful, safeguarding your investment and enhancing the shopping experience.

This holiday season, invest in the peace of mind that comes with knowing your gifts are protected, allowing everyone to celebrate with joy and confidence.

Here are a few tips you can do to protect your “budol” finds and your hard-earned money from online shopping frauds

Filipinos love to shop online–a recent report by data and analytics firm GlobalData showed that nearly 90% of Filipino consumers have shopped online in the last six months. This has put the growth of the e-commerce market at 31.3% in 2022 and is expected to grow by 22.9% and reach a value of P615.7 billion within the year.

 

Along with the widespread adoption and convenience online shopping offers comes the risk of frauds–from fake products to sellers who send defective products or send no product at all. 61% of Filipinos reported being targeted and/or victims of fraud in the past three months, according to a Q4 2022 Consumer Pulse Study by consumer credit reporting agency, TransUnion. This is a significant increase from the 55% reported in Q3 of the same year. While phishing remained the most commonly reported fraud scheme (51%), third-party seller scams on legitimate e-commerce sites came in third (33%), indicating a concerning trend that puts Filipino online shoppers at risk.

 

So before you whip out your smartphone and click buy on that item you’re itching to get your hands on, here are a few tips you can do to protect your “budol” finds and your hard-earned money from online shopping frauds:

Buy from official stores or legitimate sellers

Sometimes when browsing through online stores, you’ll undoubtedly encounter a deal that’s too good to pass up but before you bite the bullet and check out, take a few seconds to check the seller and make sure that they are legitimate sellers or official stores.

 

Buying from official stores and legitimate sellers ensures that the products you’re buying are authentic and are of good quality. Plus, some e-commerce platforms also offer additional perks when you buy from these stores including warranties, free shipping, and even money back guarantees.

 

Check the reviews

You’ll undoubtedly come across multiple products being sold by different stores online and the sheer number of options can be overwhelming. One way to weed out the best deals and items is to check reviews from previous buyers.

 

Check the review section of the product you’re eyeing on e-commerce platforms or if you’re buying from Facebook Marketplace and other social media pages, see if you can find a business page where previous customers have left reviews.

 

Reviews are helpful in helping you make informed decisions on your purchase–if the item is worth buying, if the seller is legitimate, cooperative, and responsive, or if there are any watch outs like long delivery lead times or trouble when it comes to repairs, returns, or refunds.

 

Compare prices

If you’re on the lookout for a good deal, it never hurts to compare prices. Several sellers will have the same exact product on sale and it’s good to take a second and look at other sellers before deciding on where to buy.

 

Some stores may offer the same price but throw in other perks like free shipping for no minimum spend, extended warranties, a small freebie, or the lowest price offered on the platform. A word of caution on super low prices, if it seems too good to be true, it probably is, and it would be beneficial to check if the seller is legit and the products reviews before deciding where to buy.

 

Get an online shopping insurance to protect your purchases

One of the main advantages of shopping online is the time it saves from selection to purchase–you don’t need to go to a physical store and buy an item as with a few clicks, the item will be on its way to you within a few days.

 

However, its main advantage can also be a disadvantage as you’re buying something sight unseen–you really can’t check the quality of the purchase until it’s already delivered. Even if you follow all the steps to make a good purchase, sometimes you may still receive a bad or fake product, or it may not even show up at all.

 

Designed to protect consumers from e-commerce scams and frauds, Igloo and GCash collaborated on an Online Shopping Insurance that provides coverage for undelivered goods and uncontactable sellers, partial delivery or fake goods for up to P150,000 for as low as P15/month. 

 

Policy holders can file multiple claims until they reach their benefit amount after which the policy expires and will require a shopper to apply for another policy.

 

By following these steps, you can reduce your risk of falling victim to online shopping fraud and scams, safeguard your “budol” finds and shop worry-free.