MEDIA RELEASE

Lost tech: Aussie parents multi-million dollar headache

Mozo found parents are forking out a staggering $960 million each year to replace and repair their kids’ school tech

22 February 2022

  • 52% of Australian parents reported their child had lost or broken a device in the past 12 months
  • On average children have two devices for school, with laptops (35%), tablets (19%), and phones (16%) the most common items
  • Over a third (37%) of parents refuse to buy their children top of the line devices out of fear devices will be lost or broken
  • Almost two thirds (63%) of parents feel they are spending more on devices for their kids each year 
  • Check your home and contents insurance policy to see if you have personal contents covered and your devices are listed on your policy

Mozo’s latest research has found that Aussie parents forked out an estimated $960 million last year to replace and repair their children’s school tech as everything from laptops, tablets, and smartphones were lost or broken. 

“As you wave goodbye to your kids at the school gate, every parent expects that might be the last time they see their new hats or jumpers but with the latest tech now adding to the weight of the school bag, the lost property stakes are now a lot higher,” says Tom Godfrey, Mozo spokesperson.  

With just over half (52%) of Aussie parents dealing with tech lost-property pain in the past 12 months, it is little wonder that more than a third (37%) refuse to buy their children top-of-the-line devices. 

“As parents are subjected to pester power with kids demanding the latest and greatest gadgets each year, the pressure to splash the cash on big-name brands can be overwhelming,” Godfrey says. 

Mozo also found that almost two-thirds (63%) of parents feel they are spending more on school devices each year, with 36% noticing an increase in the price of technology and 27% giving in to kids’ requests for upgrades or additional devices. 

On average, parents are expected to supply their children with two devices for school, with the most common items being laptops (35%), tablets (19%), and phones (16%). 

“With the cost of repairing and replacing lost tech hitting home, it pays to check your home and contents insurance policy to make sure you have personal contents or personal effects cover,” says Godfrey.    

“Generally, this type of cover will insure you against lost, stolen, or damaged items outside your home. It’s also important to let your insurance provider know about any new device purchases and get the products listed on your policy.” 

For more information on home and contents insurance, visit: https://mozo.com.au/insurance/home-insurance.

School Tech Tips:

  • Compare prices and check for online deals before purchasing new devices 
  • Set up location sharing on your child's device so you can track down lost devices
  • If you fear a device has been stolen, consider remotely erasing data to protect personal information
  • If your child needs an upgrade, see if you can trade in an old device for a discount 
  • Consider an insurance policy with personal contents or personal effects cover
  • Ensure your devices are listed on your policy

-ENDS-

Notes: Mozo commissioned a nationally representative survey of 1003 Australians conducted by Researcify between  28th January  2022 -  4th February 2022. Where percentages are over 100% respondents selected more than one answer to the question.