A new study from the UK has revealed that a staggering £3.1 billion (AUD5.5 billion) has been spent either fixing or replacing broken gadgets over the course of the past five years.
This gives a flavour of the kind of expense involved in failing to insure a phone, with mobile phones being highlighted as the most likely personal item to meet its end through accidental causes.
Some eight million of the devices have been damaged over the past five years, according to the findings of a survey of more than 2,000 homeowners carried out by TSB Insurance.
A total of 5.3 million laptops and desktops computers and 4.1 million cameras have also met with an untimely demise through accident or mishap.
Water damage was singled out as the biggest phone killer, as it accounted for 23 per cent of all mobile phone claims, as well as seven per cent of laptop claims.
More unusual ways of destroying gadgets were also highlighted, with one respondent having had their handset eaten by a horse and another having dropped theirs in the toilet while trying to take a selfie.
Head of TSB Insurance Kat Robinson emphasised just how important gadgets are to people and why it is essential to be careful to avoid mishap.
“Now more than ever we rely on our gadgets to get through the day, so it's unfortunate when they are taken out of action unexpectedly,” she said.
“The time and expense of dealing with smashed screens, sizzled monitors and defective equipment is a major gripe that many of us are needlessly suffering through because of having no insurance or picking inadequate protection.”