Babies are adorable. But expensive.
A baby crib and bedding, changing pad, stroller, highchair, car seat, sling carrier, doorway jumper, monitor, walker, bathing tray, diaper bag… Did you know that Americans spend on average $2776 on such items for little baby Sue or Jimmy?
Enservio’s massive data warehouse processing upwards of $2 B claims annually, reveals a lot about demographic trends. In particular, ways to accurately price homeowners and renter’s policies and to quickly settle claims. And with so much recent news on celebrity babies, we thought it might be fun to delve into our data pool to see just how much Americans spend to furnish a baby’s crib.
Kim Kardashian’s mom Kris has a knack for uncovering merchandising opportunities for daughter Kim. But when it comes to buying stuff for baby North West, Kris should have a field day. That’s because we have identified more than 70 baby items as being commonplace in the homes of new parents across the country.
Equipping a baby is not inexpensive. At the high end, keeping a baby and its parents comfortable can cost from $10,000 to $15,000. A celebrity? From $50,000 and up.
Mariah Carey is so far above average in so many ways – in particular the $100,000 she spent in 2011 outfitting her Bel Air nursery. Nonetheless, whether you are Mariah Carey or John and Mary Doe in Kankakee, Illinois, a friendly chat with an insurance agent is in order to make sure your homeowner’s policy covers the items you purchase to adorn that pink or blue room.
When people get married, some take the precautionary step to add the value of that diamond ring to their homeowner’s or renter’s policy. But there are millions of parents expecting a baby who don’t realize that they need to sit down with their insurance agent to make sure they are covered for loss or damage to specific items, even things like baby formula and food, which parents commonly purchase either shortly before or after the arrival of their loved ones. So, be prepared, because it costs a bundle, to take care of your new bundle.