Britain hoards £50m of hated hand-me-downs

Posted : 20-11-2007

Britons have some £50 million worth of items they have inherited or been given as hand-me-downs that they do not actually want, according to new statistics.

Research by home insurance provider Abbey suggests that over half (53 per cent) of people who have unwanted items in their homes hide them somewhere in their house while 15 per cent will display it even though they dislike it.

Some 12 per cent of the population have inherited items in their home with the average person possessing 12 items, with an estimated value of £9,466 per person.

Prasad Shastri, head of insurance marketing at Abbey, says that many people do not wish to insure such items separately, but if something were to occur to a home and consumers only have a limited sum insurance policy, they may not recover the full value of the items.

Recent research by home insurance firm esure suggested that Britons have some 293 million working gadgets in their lofts and cupboards as they have been replaced by upgrades.


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