Cautious Gen Zs are restricting their spending in pubs and clubs, and are instead splashing their cash – on insurance. A poll of 2,000 adults has revealed the nation’s spending priorities for the next 12 months.
More than one in three (35 per cent) 18–24-year-olds plan to spend more on insurance – compared to just 11 per cent of those aged 45–54. It comes as Gen Z were found to already have more insurance coverage for their personal belongings than older age groups.
The younger generation are four times more likely to insure their jewellery than 55–64-year-olds (35 per cent to eight per cent respectively), and twice as likely to protect their watch (26 per cent) compared to the older age group. It also emerged 37 per cent of 18–24-year-olds are set to spend more on experiences with family – compared to just one in ten of those aged 55–64.
