Research done by Insurance2go has found most people see the content on their phone as more valuable than the phone itself. Despite this, most have no form of insurance to protect their devices and would have no way of recovering their data if their handset were lost or damaged.
89% of the 1,013 people surveyed by Atomik Research on behalf of Insurance2go estimated the value of their handset is less than £500, but said their content is much more valuable. One in ten people said the photos on their phone were worth more than £500 alone, and 21% valued their videos at over £200. Even video game scores are worth a lot, with 22% of 18–24 year olds valuing them between £50 and £150.
Of all the day-to-day items people would least like to lose, mobile phones are only behind wallets and purses. 30% of women who responded said they would rather lose their keys, watch and makeup before they lost their phone.
Surprisingly though, most don’t do enough to protect their content. 58% of people don’t back up their phone and 70% don’t have any kind of mobile phone insurance.
People would be willing to pay a significant amount for the return of their content. 10% of 18–24 year olds who responded said they were willing to pay up to £500 to recover lost data.
To assist people, Insurance2go has developed a guide to help people protect their data, including recommending regular backups, protecting yourself with strong passwords and making sure virus protection software is up to date.