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High Risk 30 Somethings Overlook Gadget Insurance At Their Peril

  (June 26, 2012)

(PRWEB UK) 26 June 2012

The statistics compiled by the site from its own 150,000+ customer base of gadget insurance policy holders reveal that 20-29 year olds are the most risk averse age demographic, with 45% having iPad, iPhone, mobile phone or laptop insurance. In comparison, it is alarming that only 20% of 30-39 year olds currently follow suit. It might be argued that the 20-29 age group is more willing to acknowledge the reality that gadgets do get damaged, lost or stolen. It is a further possibility that 20-29 year olds prefer to err on the side of caution in order to avoid repair and replacement costs they would find difficult to meet in the absence of gadget insurance.

Paul Taylor, Protect your bubbles Head of Marketing, commented: Our analysis shows that people under 35 years old are more than twice as likely to insure their gadgets than those over 35 years old Whilst it is only possible to speculate upon specific reasons, he added: Whether people over 35 believe they are not likely to break their phone, or whether they think that their home insurance covers for breakage we are unsure, but they are dangerously exposed to a big bill compared to the younger generation.

Other age groups that traditionally own fewer gadgets of lesser value, including the under 20s, the 50-59 year olds, and the over 60s, are accumulatively as inadequately covered as the 30-39 year olds with mobile, iPhone, laptop and iPad insurance. With 19% of these combined age groups having gadget insurance cover, they trail 30-39 year olds by a mere 1%.

Protect your bubble urges vulnerable 30-39 year olds to reconsider their unprotected positions. It suggests that they do a few simple sums to establish the value of the gadgetry that they regularly carry with them. Recent *research carried out across 501 18-64 year olds concluded that over half of the people in the UK have up to £500 worth of gadgets with them every time they set foot outside their homes. A glance at offers a timely reminder to 30-39 year olds that the gadget insurance they lack offers financial safety nets for damaged, lost and stolen phones or laptops. Policies are also tailor made to incorporate Bluetooth, camcorders and cameras, games consoles, iPods and MP3 players, and satnavs.

Taking these additional gadgets into account, it is highly likely that the £500 figure actually underestimates the value of the gadgetry that 30-39 year olds regularly take in to the public domain. This further underpins the risk of severe financial loss that four fifths of the age group without gadget insurance runs. Assumptions that losses or thefts in a bar or damages caused by accident will not happen to their belongings can prove costly. They can be doubly bitter pills to swallow if this age group genuinely believes that other insurance policies eradicate the need for gadget insurance.

*Research carried out across 501 consumers aged 18-64 years old. Research undertaken by Aurora Market Research (May 2009).

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