Students now own close to £4,000 worth of possessions
Nearly half own a table with Smartphones top the list of most prized possession
University students own an average of £3,658 worth of gadgets and other possessions – with 45% of students now owning a tablet, up from 40% last year and 4% in 2011. This is according to new research by Endsleigh, which celebrates its 50th anniversary of insuring students and young professionals this year.
Endsleigh’s 2015 Student Survey, which was carried out by the Insight Team at NUS and surveyed a sample of 3,053 students across the UK, shows that the average male student owns £4,302 worth of possessions – almost £1,000 more than the average female student (£3,361).
The total average value of student’s possessions, £3,658, comes in lower this year when comparing it to the 2014 figure, which was £4,591 – perhaps reflecting the recent period of low inflation in the UK and the falling cost of some gadgets such as TVs and laptops.
Gadgets on the rise
When it comes to gadgets, the results show that smartphone ownership among today’s tech savvy students has increased to 95%, up from 91% in 2014 and just 34% four years ago. Unsurprisingly, laptops continue to be one of the most popular items, with 91% of current students saying they own one, up from 83% back in 2011. A fifth of students (20%) also said they were planning to upgrade their laptop within the next 12 months.
Alongside the increase in multi-purpose gadget ownership, Endsleigh’s research also found various other digital items to be popular amongst students – 44% now own a flat screen television (up from 37% in 2014) and 39% a games console (up from 34% in 2014). The demise of the MP3 player perhaps comes as no surprise, with now only a fifth of students (21%) carrying one day to day – a significant decrease from 39% back in 2012.
What can’t they live without?
When asked what their most prized possession was, smartphones were considered top of the list for the majority of students (82%) - bumping laptops to second place (74%) for the first time since this survey began. Nearly a quarter (24%) of respondents said their tablet was their most prized possession, while just 10% said it was their bike which they couldn’t live without.
When it came to what students were spending the most of time doing when using their phones, the survey found that nearly a third (30%) now spend 3-6 hours a day on social media – up from 23% last year.
Sara Newell, Manager Student Markets at Endsleigh, said:
"This year we’re celebrating our 50th anniversary here at Endsleigh and in this time we’ve seen the pattern of what students bring with them to university change beyond recognition - particularly with the arrival of tablets, smartphones and digital music. Today’s students rely on a number of expensive, high-tech, portable gadgets that cover almost every aspect of their daily lives – for both work and play. Inevitably, these have become increasingly expensive as technology has developed.
“With students now almost entirely reliant on these more sophisticated gadgets, it’s vital that they consider insurance tailored to their specific needs in order to avoid any unexpected replacement costs which can be pricey. It is a common mistake among students to assume that they’re covered by their parents’ policy. However, that won’t always insure them for the loss of their most prized possessions outside of their rooms - or even for accidental damage.”