Covered for digital music collection?

4th February, 2011

The threat of being under insured has always been a consideration for home owners who accumulate goods throughout the year. Customers are always being advised to let their insurance provider know if they make any big purchases. Now there is a new angle on the question of “just how much is my stuff worth?” when considering the cost of replacing a digitally stored music collection. This has been brought about by a change in the way people listen to music has meant that many home insurance customers are not fully protected.

The consumer magazine “Which?” found that although music lovers spend hundreds of pounds on music downloads; they will not be recompensed if they enter a claim on their home insurance policies.

According to the research, a third of all leading home insurers will not offer any form of cover on digital purchases on their standard home insurance policies even though around 100 million tracks are being down loaded each year in the UK.

There were four home insurance companies on the list of those that do offer cover – Play.com, HMV Digital, 7digital and Tesco Entertainment.

 

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