Supercover Insurance is set to expand its broker network by nearly half after launching a new insurance product to cover MP3s and iPods.
The specialist insurer, which provides cover for electrical equipment, such as mobile phones, satellite navigation systems, personal media players and laptops, intends to add a further 100 brokers to its existing network of 250.
The development follows the introduction of a new 'handbag' cover, which insures items like PDAs and MP3s and will be distributed through its partnership of brokers across the UK.
Russell Parks, managing director of Supercover, told Insurance Times: "The Home Office has been running a campaign over the last three to four months about the importance of insuring items such as MP3 players and mobile telephones, so we believe there is a real need to provide insurance in that area."
Parks said the company hoped to double its annual turnover of £2m within the next two years as a result of its new product, which included multi-cover for those consumers with three to five electronic gadgets.
The consumer electrical equipment sector is estimated to be worth £100m.