MyRepublic launches insurance coverage for your rare and limited figurines, trading cards, anime merch, and sneakers

MyRepublic has announced a unique insurance coverage product in Singapore, solely targeted at people who drop serious money on collectible merchandise for geek hobbyists and collectors.

Appropriately named Geek Insurance, this new offering is underwritten by HL Assurance in partnership with the ISP. The coverage lets insured users make claims for a variety of geek products, including nerdy household fittings, mobile phones, and even limited-edition sneaker drops.

According to MyRepublic, Geek Insurance is Singapore’s first-ever dedicated insurance for collectibles. However, the caveat is that you must be an existing MyRepublic customer to enjoy this coverage.

Does coverage include my questionable figurines in even more questionable poses?

According to MyRepublic’s official website, here’s the laundry list of what Geek Insurance covers:

• Collectible Trading Cards (like Yu-Gi-Oh, One Piece, Magic: The Gathering, baseball cards, and more)
• Figurines (like POP Mart ones, anime ones, and other figurine collections, etc.)
• Game Collection (including vintage video games and consoles)
• Memorabilia and Merchandise (including jerseys, posters, autographs)
• Comic books (both superhero types and mangas)
• Sneakers collection (self-explanatory)

MyRepublic said that interested folks can reach out and contact them if they are unsure whether their collection qualifies for Geek Insurance. 

At a glance, we’d think collectors of Gundam figurines, K-Pop memorabilia, and vintage consumer tech (like having the first-ever Apple Macintosh 128K) would also want to know if they are considered geeky enough to qualify.

We say that, because MyRepublic specified that Geek Insurance does not cover coin and/or stamp collections. Sorry, this is for the geeks only.

Types of damages covered include:

• Theft
• Break-ins
• Floods
• Fires
• Other insured perils

However, MyRepublic and HL Assurance also said to check the full policy details for exclusions and limits. Currently, the website does not publicise the complete list of exclusions (i.e., whether it’s covered if damaged by meddling kids or pets with irresponsible parents, and how value is calculated), so interested folks must also contact them for the full details.

What are the plan types available?

Two plan types are offered. MyRepublic has a Standard plan at S$4.90 per month and a Pro plan at S$7.90 monthly. Both plan types seem to offer the same coverage types, but the Pro plan offers higher claimable sums (e.g., collectibles up to S$15,000).

Once again, it’s worth noting that Geek Insurance requires that they are existing customers of MyRepublic services, and the costs of that are not factored into these coverage fees.

MyRepublic said the plans are monthly subscriptions, and you can cancel anytime (with the coverage lasting until the end of the current billing cycle).

How do Geek Insurance users make claims?

According to MyRepublic, the ISP recommends contacting their insurer representative as soon as the incident occurs. HL Assurance’s hotline is +65 6922 6003.

The representative will help assess the situation, prescribe next steps, and inform users if they need any supporting documentation while they mourn over their loss.

The rest of the claims process can be found here.

Editorial Note and Disclaimer: None of the information or opinions contained here constitutes an offer (or solicitation of an offer) to use any financial product or instrument, to make any investment, or to participate in any particular financial management strategy. This is just a product/service launch that the HWZ Editorial team found interesting enough to cover.