Silver Surfers Day - make sure you're covered

Silver Surfers Day (May 23rd) is now in its 7th year, and reaches out to the 10 million strong over 50s audience surfing the net, which makes it hard to believe that this age group was once written off as the ‘technophobe generation'.

But, says RIAS, affluent ‘silver surfers' are now leaving youngsters behind in a cloud of dust when it comes to uptake of new technology and are recognised as the UK's fastest-growing age group of Internet users.

According to research, the over 50s make up over 30% of web users, 17% of them download music/podcasts, 22% own an ipod or mp3 player, 7% have submitted a blog entry and 79% have visited YouTube. As for ownership, more than 40% have a personal laptop, over 92% use broadband and 19% have a media centre PC. Perhaps most significantly, 79% said they believe technology has ‘changed their lives for the better'. Controlling 80% of the country's personal wealth, and accounting for 40% of consumer spending, the over 50s have become ‘one of the most powerful consumer forces' when it comes to new technology.

"The readiness to adopt new technology being demonstrated by the over 50s doesn't surprise us," says RIAS Managing Director Janet Connor. "We know from feedback from our customers that items such as computers, laptops, mobile phones and ipods/mp3 players are no longer considered ‘gadgets', or as the domain of the young, but as essential household items."

However, many over 50s could be leaving themselves exposed to financial loss by not taking into account the replacement cost of high tech equipment in the event of loss, damage or theft. Some householders could be undervaluing such equipment compared to the perceived higher value traditionally attached to items such as furniture and jewellery.

"Householders need to reassess and, if necessary, update the value of their home contents to account for these new purchases, and ensure all their possessions are adequately covered by their policies," advises Janet Connor.

RIAS, which specialises in insurance for the over 50s, provides home contents insurance and its standard cover includes new for old replacement on stolen, lost or damaged items, as well as cover for accidental damage to audio and visual equipment, including televisions, computers and videos.