View more on these topics

Parents use contents insurance to bail out kids

Cornhill Direct has revealed that parents are increasingly using their home contents insurance to replace their kids lost and stolen gadgets.

A poll of 2,500 parents conducted by the insurance company has shown that British teenagers often leave the house wearing clothes and gadgets worth over 768.

The average teenager wears clothes worth 229.54, jewellery and accessories to the value 125.65 and watches costing 75.80.

They are also likely to carry a mobile phone, an MP3 player and a wallet collectively worth more than 300.

One in 10 teenagers regularly lose, or have stolen, their MP3 players, digital cameras, mobile phones, watches and wallets, the survey found.

Mark Bishop, spokesman for Cornhill Direct, says: “Young teenagers travelling alone are particularly vulnerable to thieves and muggers.

“Leaving the house wearing expensive jewellery and using an MP3 player might attract attention but not necessarily the sort a teenager is looking for in the shape of thieves and muggers.”

More than a third of parents say their teenage children expect to have all the latest designer accessories, and half save up all their pocket money to enable them to buy the latest gadgets.

Nearly half of parents say their children spend all their hard earned cash on the latest gadgets or must-have high street or designer clothes.

Most parents only give their teenage children an average of 6.29 pocket money each week, but even this goes towards improving their appearance.

Cornhill Direct home contents insurance policy holders can opt to cover personal possessions and money outside the home.


White label conveyancing deal

Easier2move has linked up with Bananas Inc to provide a branded white label conveyancing service for its brokers.

FSA bans IFA from doing business

The Financial Services Authority has banned independent financial adviser, George Robert Piggott, from all regulated activities in the financial services industry.The Financial Services and Markets Tribunal found that in his dealings with customers and in the courts, Mr Piggott knowingly relied on forged documents, recommended lying to an insurance company and threatened some clients with […]

Seminars will boost secured loans’ profile

Oryen Commercial and Oryen Secured Loans for Intermediaries are to host a series of seminars to raise awareness of commercial mortgages and secured loans. The seminars, held in conjunction with Commercial First, Kensington Personal Loans and Southern Personal Pacific Loans, will kick off on January 30 at the Wentbridge House Hotel, Pontefract. A spokesman for […]

Portman appoints accounts manager

Portman has appointed Jeremy Cook as national accounts manager. Cook joins Portman and The Mortgage Works from Friends Provident where he was mortgage relationship manager, responsible for the insurer’s mortgage, general insurance and packaging propositions.


News and expert analysis straight to your inbox

Sign up