Yes, travel insurance is worth carrying for a trip to Cebu City, a major hub in the Philippine Visayas built around Mactan-Cebu International Airport, and the honest reasons here are seasonal weather and referral logistics rather than everyday danger. Many visitors use Cebu as a base for diving trips to Moalboal or Malapascua, or as a ferry connection onward to Bohol, and that travel pattern shapes what a policy really needs to cover beyond routine city time.
Cebu City has a reasonably developed private hospital sector for a regional Philippine city, handling most routine and moderately serious cases well, but complex or highly specialized treatment is sometimes referred onward to Manila. Confirm your policy covers hospital costs adequately and, ideally, medical transfer between Philippine cities, rather than assuming Cebu's own facilities cover every specialty, since a serious case starting on a side trip to Moalboal or Bohol may still route back through Cebu before any onward transfer.
Diving is a genuine draw here, from the sardine run and reefs off Moalboal to the thresher sharks at Malapascua, and both destinations are reached from Cebu by boat or road, usually as a day trip or short overnight rather than a stay in Cebu City itself. Typhoon season, roughly June through December, is a real consideration for the Visayas region, including Cebu, which has experienced destructive storms in the past; confirm your policy names diving specifically and covers typhoon-related trip delay or cancellation, including disruption to inter-island ferries serving Bohol and Malapascua.
Keep any clinic paperwork from Cebu or Manila, dive-operator incident reports, and receipts for delayed travel if a storm disrupts your plans. Check whether your existing health cover extends abroad and specifically to the Philippines before you travel, and confirm the claims-reporting timeline in your policy wording, since many policies require prompt notice before non-emergency transfer or treatment is arranged.