“I just got a chromebook as a gift for my school work. It has no insurance yet. Is it possible to still purchase the protection?”
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per Best Buy FAQ's: Yes, you have 60 days after your purchase to add Geek Squad Protection, including standard Geek Squad Protection Plans, Plans with Accidental Damage from Handling, and Product Replacement Plans. You may add the applicable Plan on your Purchase History page. To add a Plan with Accidental Damage from Handling or a Product Replacement Plan, you'll need to bring your item into a Best Buy store.
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