Parents turning to insurers to bail out their kids

As a new survey reveals that modern British teenagers often walk the streets wearing clothes, jewellery and electronic gadgets worth more than £768, leading insurer Cornhill Direct says that parents are increasingly forced to turn to their home contents insurance to replace their kid's lost or stolen items.

The poll of 2,500 parents, conducted by Cornhill Direct, revealed that the average teenager often leaves the house wearing clothes worth £229.54. They will often be decked out in must-have accessories such as jewellery to the value of £125.65, and watches costing £75.80.

Furthermore in their pockets they will carry a mobile phone, an MP3 player and a wallet collectively worth more than £300.

But although looking good is important, many teenagers find it hard to hang on to their possessions.

The survey found that three in 10 teenagers regularly lose, or have stolen, valuable items such as mobile phones, MP3 players, watches, wallets and digital cameras.

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

He added: "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 and gizmos.

Similarly, 48 per cent 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.

Consumers can find out more about protecting their property at cornhilldirectcrimeprevention.co.uk.