Single Britons should insure their clothes

Posted : 28-09-2005

British singletons are spending around £632 a year on new clothes, yet most believe their entire wardrobe collection is worth less than £1,000, according to research by Barclays bank.

Single men and women only throw away around five per cent of their wardrobe each year, clearly underestimating the hundreds of pounds worth of clothing they have in their homes, should they need to replace it.

Adrian Grace, managing director of Barclays Insurance Services, comments: "The image conscious singleton may want to spare a thought to doing some long term financial planning, to protect their prized fashion investments and to regularly check if all their goodies are still insured."

Barclays' research states that, although on average men spend more on clothes per shopping trip than women, the average woman has many more journeys to the shopping centre than men.

Barclays announced its single female customers spent £1 billion on clothes last year, while its male account holders only racked up £515 million.

Fashionable singletons are now being urged to consider the contents of their wardrobes, and to check they have adequate home contents insurance, should the worst happen.

© Adfero Ltd

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