Are your music downloads covered?
0 commentsHave you ever stopped to add up how much your music downloads are worth? If not, you may be surprised to learn just how much you have invested in the coffers of iTunes and Amazon. But you'd probably be even more surprised to learn that if you were unlucky enough to lose your computer hard drive through fire or theft, only 24% of home insurance policies would cover the loss of your downloads.
Over a third of us regularly download music and, whilst the average value is under £100, a million of us value our collections at over £250. Overall in the UK we have downloaded £1.3 billion worth of music since digital downloading took off.
We seem to be taking quite a relaxed approach as regards insurance, however, with research from Sainsbury’s Home Insurance revealing that only 5% of us know that we are definitely covered by our home policy. 23% of us are relatively sure that we would not be covered and 55% of us don’t have a clue as to whether we would be covered or not.
Ben Tyte, manager of Sainsbury’s Home Insurance, thinks that many consumers may believe that they could recover any loss from the retailer but points out that most places will only allow for a single download. He advises music lovers to back up their collection on a different computer as a safeguard.
Sainsbury’s research also threw up some interesting statistics as to who exactly is doing all the downloading. Predictably, the 18 to 24 age group leads the way with 58% downloading music. However, the over 65s are at it too with 12% having done so. As for the split between the sexes, men download three times as much as women.
Sainsbury’s Home Insurance policies offer cover for downloads up to £2,000 and it is one of only 27 insurers offering this.
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