Losses could run to £1bn, says Sainsbury’s Bank

People have lost more than two billion pieces of digital media content such as songs and apps over the past two years, according to research commissioned by Sainsbury’s Bank – at a potential cost of more than £1bn.

The poll of more than 2,000 people by ICM, weighted to reflect the UK’s population, suggested that many people lost digital content when their electronic devices were lost, stolen or damaged.

Those who lost an electronic device lost an average of 995 music tracks each. With downloads costing 79p each, those affected could have lost £786.05 of content. More than 17.9 million apps have been lost, worth at estimated £12.3m, and on average each person has been unable to recover 20 films in the past two years, worth an estimated £27.5m  

Sainsbury’s Bank’s home insurance policies, underwritten by Direct Line Group, offers two level of cover for digital content of up to £1,000 or £3,000 if the content cannot be recovered when a device is stolen or damaged because of a fire or flood in the home. It also sells additional cover away from the home.

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