Rising levels of street crime are costing the younger generation with a taste for expensive electronic gadgets, new figures reveal.

Muggings and other street crimes have risen by 40 per cent over the course of the last year, according to Home Office statistics.

The average person aged between 16 and 24 now owns on average more than £5,300 of electrical goods including cameras, mobile phones and music players.

One fifth now own iPods and over two thirds own a digital camera. Almost half of those aged 24 and under will buy the latest gadget as soon as it hits the shops, regardless of whether they can afford it.

But many do not have adequate insurance for their goods, leaving them owing hefty sums if their homes are burgled or they are mugged on the street.

David Pitt, head of insurance at More Than, commented: "As this research highlights, there is a proliferation of small but high value gadgets not only in the home now, but also on our person as we go about our daily life.

"It is important to ensure you have enough insurance cover for these items both in the home and when you are carrying them about on your person."