Tech Heavy, Sport Light Kids Worth $1,900

SYDNEY, AUSTRALIA, July 11, 2012

Australian children are more likely to personally own a laptop, camera, video game system and MP3 player than sporting or musical equipment, according to GIO's latest research(1).

GIO spokesperson Duncan Bone said their research found children own, on average, about $1,900 in gear.

"Our data found the same level of ownership across income levels, driven largely by technology purchases," he said.

"The drop in cost and size of this technology, along with its integration into everyday life, means on a busy school day some kids could be carrying about $1,900 worth of equipment.

"A couple of decades ago the most expensive thing a child owned might be a cricket bat or musical instrument.

"While their parents couldn't easily carry a computer, stereo or video player back in the day, today's kids can carry all of these in their backpack alongside their fruit box."

GIO's research found more than half of the parents surveyed said their kids owned an MP3 player, video game equipment and mobile phone. Only 32 percent owned sporting equipment worth more than $100, although 74 percent owned a bike.

Just under one third (29 percent) owned a music instrument, and about one in twenty possessed a watch or jewellery worth more than $1,000.

GIO's research also found younger parents (aged between 18-24) are much more likely to have children that own a mobile phone, MP3 player or a laptop, as compared to those parents who were aged between 25-49.

"It's a long way from the 90s, when kids at most had a Discman, a Nintendo Gameboy and the special few had a Casio digital calculator watch," said Mr Bone.

"Technology is moving fast and changing the way our kids live, learn and play, and becoming an integral part of their lives in a way that it never was for their parents.

"While the average value is $1,900, more than one in ten parents said their kids' equipment totaled more than $4,000.

"With the kind of value that's riding in their backpacks these days, it's important for parents to take some time to think about what their kids own and what precautions they can take to protect themselves against a possible loss.

"Check your insurance policy, as it could be you already have or can add portable items cover. If you have items above the cover limit you could talk to your insurer about extending it."

- 65 percent have video game equipment, 62 percent have an MP3 player, 51 percent have a mobile phone, 42 percent had a laptop, and 45 percent have a camera
- 32 percent own sporting equipment worth $100 or more, 74 percent own a bike
- 29 percent have a musical instrument, 16 percent expensive sunglasses or prescription glasses
- 5 percent own a watch or jewellery worth more than $1000

- The ownership levels are the same across income levels
- Kids living outside capital cities are 10 percent more likely to own both a video game system and a bike
- Respondents aged 18-24 said children in their house are more likely to own a mobile phone (by 21 percent), an MP3 player (by 11 percent) and a laptop (by 17 percent) as compared with children where the parents are aged between 25-49

Annotations
(1)Newspoll Market & Social Research conducted an independent Internet survey on behalf of GIO Insurance of 3,121 people, 18 years of age and older, across all states and territories in 2012. Collected data has been weighted in line with current ABS population demographics to ensure any extrapolation of results is representative of age sex and area.

GIO General Ltd offers and issues a range of different types of home insurance that allow you to enjoy flexibility, optional covers and discounts. You can relax in knowing that if the unexpected happens to your home, we'll help take care of your insurance for you and help things get back on track sooner. Policy conditions apply. For more information please read the relevant Product Disclosure Statement at www.gio.com.au or call us for a copy on 13 10 10.