Insure your gadgets ahead of the festival season

Music lovers are being urged to insure their gadgets as 2016’s summer festival calendar kicks off at Glastonbury’s Worthy Farm this weekend.

Almost three-quarters of 18-24 year olds believe that they don't need to insure their smartphone, with half of them put off by the monthly outlay, according to a study published by CompareTheMarket.

Similarly, 79 per cent of tablet owners reckon that insurance is unnecessary with 39 per cent discouraged by the cost.

However, the cost of replacing a smartphone without insurance is £259 on average, which for an age group typically short on disposable income can be even more financially painful.

More than one in ten uninsured 18-24 year olds have had to suffer this particular sting in recent years, the study found.

Only a fifth of 18-24 year olds have taken out cover for their mobile phone, despite separate research suggesting that, for a third of teens (32 per cent), their mobile is their most prized possession with a quarter checking their phone more than 50 times a day.

Respondents that did have cover on their gadgets typically did so under their home and contents insurance policy, which is generally considered a more cost effective way of protecting your valuables.

However, it is highly unlikely that this form of insurance will cover theft from a tent, which is virtually impossible to secure effectively.

If you have possessions stolen from a tent, many insurers won’t pay out in the event of a claim on your contents insurance, even if you have taken out cover to include possessions damaged, lost or stolen outside of the home.

Gemma Sonfield, head of home insurance at CompareTheMarket.com, commented: “Whilst Glastonbury and other festivals are generally peaceful affairs, crimes do occur and it’s worth making sure that people don’t come back out of pocket, having had their valuables stolen or lost.

“Even if you have some form of insurance, whilst you may be covered by tarpaulin after a heavy day of merrymaking, you may not be covered by your insurer in the event of a theft from your tent. Make sure that you check your home insurance policy, to ensure that you’re covered for contents outside the home.”

By Joe White