With festival season on the horizon, new research1 by comparethemarket.com reveals two in five (44%) Brits are predicted to attend at least two festivals this year. With 37% of people having had a valuable item lost or stolen at a festival, festival goers could find themselves out of pocket by not insuring their personal possessions under their home contents insurance policy.
So how much are festival goers expected to lose at UK festivals this year? The research reveals the expected cost of lost and stolen goods per festival.
Glastonbury tops the list as the most expensive festival for stolen goods
According to the findings, Glastonbury, which is set to host 210,000 festival goers, is expected to rack up a bill of £4,917,360.00 in stolen or lost goods.
The table below shows how other festivals compare:
|Festival||Number of people expected to attend2||% of festival goers who fall victim to theft or loss each year||Total amount lost*|
|Isle of Wight||58,000**||9%||£ 763,947.00|
*Total amount spent on replacing lost/stolen items.
Home contents insurance which covers personal possessions could cover the cost of replacing an item that’s lost or stolen. However, two in five (44%) Brits don’t have the right level of insurance to cover their belongings outside the home. A staggering four in five Brits (84%) don’t know what’s covered under their insurance policy at all.
Commenting on the research, Alex Hasty, director at comparethemarket.com, says:
“The loss or theft of personal possessions at summer festivals can be common, so you should try to avoid carrying a lot of cash with you and taking valuables that you don’t need altogether. Having the right level of insurance could help ensure you’re covered and ensure you’re not having to spend your hard-earned cash replacing valuable items.”
To find out more about contents insurance and covering your personal possessions at a festival, please visit : https://www.comparethemarket.com/home-insurance/content/festival-insurance/