As more and more of our money is spent on virtual things–like music that’s downloaded instead of bought on CD’s, insurers will begin covering them for loss or theft.
As the UK Independent reports:
Nationwide has been the trail-blazer, including music and other entertainment downloads as standard in its home contents cover. The building society argues – and a lot of iPod users would agree – that these virtual music collections count as family valuables, just like CDs and old LPs. Other insurers are considering a similar addition to their home contents cover.
Nationwide’s cover is for any download – ringtones, games, films or music – wherever it is held, be that a phone, PC, laptop or music player. The important point is that the owner will have to prove they have paid for the download.
The cover is for fire, theft or flood – but not for accidentally wiping your computer’s hard drive. Even though the policy offers accidental cover for other bungles in the home, this is a specific exclusion.