Households sit on uninsured valuables worth £9,500

9 June 2018
Image

Two-fifths (38%) of Brits say they have valuables stored away at home, worth what they estimate to be an average of £9,541 – yet many of these items are uninsured and not kept securely under lock and key, according to recent research. 

The majority (82%) of these home hoarders think their items will increase in value – perhaps optimistically estimating they’ll be worth £16,490 in 10 years’ time, an increase of 72%. 

Research by TopCashback found that half of them have treasure in the form of jewellery, a quarter own valuable toys and watches, followed by art (22%), collectables such as comics and autographs (21%), technology (21%), books (19%), memorabilia (16%), handbags and stamp collections (both 12%).

On average, people have hoarded their treasures for 15 years, and almost three-quarters (70%) say they will never sell them. Over a third of respondents (36%) say that sentimental value is more important than monetary value, and about a fifth (19%) want to pass them on to their children and family members. 

However, about a third (32%) of those polled say they would sell a much-loved item in case of financial difficulties – or if they found it had gone up dramatically in value.

Despite the importance owners place on their valuables, 84% keep their treasures at home and half just leave them lying around the house. Almost a quarter (23%) keep them in a jewellery box, 19% store them in the loft and only 14% lock them in a safe.

What is perhaps most surprising is that many of these treasures are uninsured. Nearly half of the 2,282 of UK householders polled do not have their valuables insured, and 40% say they thought insurance was not worth it. 

Fewer than a third have had their items professionally valued – and of these, though 83% were told their items were valuable, only 20% bothered to get them insured. 

Add new comment