Brits 'keep £4.6 billion in their homes, risking home insurance claims'

Posted : 28-09-2007

Over three quarters of Britons admit to keeping quantities of cash in their house, which may lead to the need for costly home insurance claims, it has been reported.

And while the average UK citizen hiding £127, some eight per cent stated that they keep between £300 and £1,000 hidden in their house at any time, according to new research by home insurance provider Cornhill Direct.

Despite the large number of respondents indicating that they keep sums of money hidden in their home, a third of consumers feel uneasy about storing large sums of money in their property.

The research indicated that drawers were the favoured location for stashing cash, with tins and pockets coming in second and third places, respectively.

A spokesperson for Cornhill Direct stated that it is "never a good idea" to keep large amounts of cash in the house.

Recent research for Legal & General indicated that not all Brits hide their valuables away, as wallets, purses and handbags all ranked in the top ten of valuable items left lying around in the average Briton's kitchen - which could increase the chance of burglary and require home insurance claims.


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