I love my iPad, it’s the best thing ever…
The finding of a recent survey by Endsleigh Insurance suggested that we value our gadgets ahead of our own lives; office workers are twice as likely to insure their gadgets than take out life insurance.
In a new poll, office workers were asked whether they would be more likely to insure themselves, or their mobiles and iPads if they had an extra £20 in their salary. As many 28% of those surveyed would insure their mobile phone or laptop, compared to just 17% who would invest in life insurance.
When questioned further, respondents said that they couldn’t live without their smart phones and other gadgets such as iPads and laptops citing such reasons as:-
“I love my iPad, it’s the best thing ever…”
“My laptop holds all my personal information and photos, I’d be lost without it….”
“I couldn’t manage without my phone – I use it for everything, music, Facebook, and Twitter…..”
“If I ever forget to take my phone I feel lost without…..
The independent poll showed that the types of insurance that we were least likely to spend extra cash on were policies to cover jewellery (4%), travel (4%) and household appliances (5%). Interestingly people were twice as likely to take out insurance to cover the cost specifically for servicing their gas boiler, rather than cover the cost of repairing their fridge, freezer or cooker.
Will Brunwin, IFA Manager at Endsleigh, commented: “it’s worrying that many people are failing to see the importance of life insurance. It’s our responsibility to ensure that people understand that in the event of their death without this their dependents could be left with insufficient income to pay for not just phones, laptops and other gadgets, but significantly more important costs such as food, mortgage payments and utilities bills”
Full Survey results*:
What type of insurance would you spend an extra £20 in your pay packet on?
Mobile / gadget insurance: 28%
Life insurance: 17%
Income insurance: 15%
Pet insurance: 11%
Service insurance: 10%
Home insurance: 6%
Household appliance insurance: 5%
Holiday insurance: 4%
Jewellery insurance: 4%
Endsleigh Insurance has compared the benefits of mobile phone and life insurance (http://www.endsleigh.co.uk/Pages/life-insurance.aspx), highlighting just how much cover £20 can get you.
According to Endsleigh Insurance (http://www.Endsleigh.co.uk/gadget) to insure an iPhone4, an Apple Macbook, an iPad and a Sony Playstation 3 would cost £19.32 per month.
If a 30 year old male with a wife and 2 children were to spend the same £20 a month on life insurance, in the event of his death his family could receive a lump sum of £437,923 (Bright Grey level term insurance over 25 years, male age 30 non-smoker. The quote is prior to any underwriting from the insurer. Quote correct 01.12.2012**).
*The independent survey was carried out by Endsleigh insurance on a sample of 381 office workers, male and female, between the ages of 18-60 years old.
** The quote used was given for illustrative purposes only and does not constitute as advice. The need for life insurance will vary amongst individuals.
About Endsleigh Insurance
For more information contact Vicki O’Connell on 01242 866611 or vicki.o’email@example.com
Endsleigh is an independent intermediary specialising in the provision of insurance and financial products for career people.
Endsleigh also offers business insurance through Endsleigh’s Business team and financial advice through Endsleigh Financial Advice team.
Endsleigh’s team of specialist IFA’s provide competitive solutions to their clients, with all advice tailored to their specific needs.
The team have access to the leading insurers and lenders in the UK market, offering comprehensive advice on all areas of financial planning. Along with offering advice on financial protection, investments and retirement planning, Endsleigh also have dedicated mortgage and corporate advisers.
As telephone based IFA’s they offer a convenient service, providing easy access to specialist advice when you need it.
Endsleigh tenant referencing service is powered by Experian, Zurich and the Endsleigh Group to provide a comprehensive range of products and services to the letting agent market. There are 10 dedicated account managers covering the whole of the UK in order to provide comprehensive support to letting agent partners.
Endsleigh’s proposition includes Tenant Referencing and Rent Guarantee, as well as offering competitive lettings and landlords insurance cover to tenants and landlords. The tenant referencing service is provided by market leaders Experian and is provided online to ensure speed and efficiency, enabling 88% of our references to be back within 48 hours.
Sometimes the periods of non rental are out of a landlord’s control. At Endsleigh we appreciate that this can be worrying which is why we have a product which offers buildings and contents cover with an extended unoccupancy clause.
Endsleigh online http://www.endsleigh.co.uk
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