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Brits spend big on tech but not on insurance, reveals study

Paul Lipscombe
December 23, 2020

Londoners spent the most on tech this festive period, while Newcastle and Cardiff residents are most likely to buy insurance cover

New research has revealed that de spite nine per cent of Brits spending between £300 to £400 on tech this festive period, nearly half of these items are not insured.

The report by insurance provider Insurance2Go revealed that 47 per cent of consumers that spent big on tech haven’t covered their products with an insurance policy.

And according to Insurance2Go, 22 per cent of respondents said they were confident their gifts were insured.

When it comes to the city that has spent the most on tech gifts this Christmas is London is £340 on average.

This is followed by Belfast with £291, Manchester £250, Southampton £249 and Birmingham on £245.

Despite this, Newcastle and Cardiff are the most likely to have insurance for their new tech purchases.

Commenting on the findings Insurance2Go head of marketing and digital Richard Gray said: “At this time of year, many homeowners take the necessary precautions to step up their home security, spurred on by darker nights and houses full of expensive gifts wrapped up for Christmas.

“Loss or damage should be the last things people worry about over Christmas, so taking that time to ensure those big-ticket items are covered before the big day will offer that extra peace of mind.”

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