However, it also claimed that some policies may not pay for the loss of such material if a computer or laptop is damaged.
Grant Bather, spokesman at Virgin Money, said: "A number of artists including Bloc Party, Marillion and Radiohead have all released their music online and it is clear that over the coming years artists will be exploiting the internet as a way to release their tracks.
"As such, fans need to make sure that should their computer get damaged, lost or stolen, that the tracks or feature films can be restored."
Warnings about legal download insurance have come after Sainsbury's Finance announced the launch of a new pet cover policy.
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