RACV Insurance has produced single-item cover for valuable possessions such as laptops, tablets, phones and gaming consoles.

The insurer says the cover, which follows similar offerings from Suncorp (through its partner Trov) and IAG, can cost as little as $25 per year.

“Until now, the insurance sector has largely ignored younger consumers, assuming they did not want, or have the funds, to take out insurance,” GM Home Insurance Stacey Maher said.

“But younger generations care about their lifestyle, and the items that support their passions – their phones, laptops, cameras.

“RACV Single Item Insurance means they can protect their most valuable item for little more than the cost of a movie ticket each month.

“They can go online, select what cover they’d like, and get a quote in under 30 seconds.”