UK's teenagers worth £2.1 billion

UK teenagers are worth an average of £456 every time they leave the house, according to new research from Allianz Insurance. It found that on average, teenagers carry £42 in cash, a mobile phone worth £110 with almost two thirds (62%) carrying an MP3 player and almost one in 10 (9%) a games console.  Additionally, they are wearing watches or jewellery worth £74 and a further £230 worth of clothes and shoes,

Mark Bishop, spokesperson for Allianz Insurance, said: "Despite the economic climate, the value of teenagers' belongings is shooting upwards.  Our research has shown this is an annual trend - for example in the course of two years the amount of cash teenagers are carrying has increased by 50% from £28 in 2008 to £42 today."

The rising value of a teenager's belongings is concerning parents with (83%) believing it makes their children more vulnerable to crime.  More than half (57%) are concerned their child may have valuable items stolen or lost while they are out and about.

Their concerns aren't unfounded as 29% of their teenage children have had something lost or stolen in the past and 14% have had to make an insurance claim as a result. However, over three quarters (78%) of parents do warn their teenage children about the risks to their belongings from crime before they leave the house.

Mr Bishop said: "Parents of teenagers have every reason to be concerned about items being lost or stolen particularly as it is often left to them to replace expensive items. By ensuring their house insurance policy covers these expensive items outside of the home parents can avoid some of the direct costs to themselves should something unfortunate happen."