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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.

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