Brits urged to insure music collection

Posted : 17-06-2005

Britons should ensure their record collections are adequately insured, or risk losing thousands of pounds - not to mention priceless memories.

Research from Barclays Insurance has found that the average Briton's record collection is worth £1,500.

However, most people underestimate the value of their CD's, LP's and tapes, with people putting a price tag of £635 on their £1500 collection.

This leaves them at risk of losing out if their home is burgled, with three-quarters admitting they wouldn't be able to remember all the CD's they had if they were burgled.

"If someone had a motorbike valued at that much they would not dream of not insuring it properly," commented the managing director of Barclays Insurance Adrian Grace.

"But, " pointed out, "people are often more casual about their music."

Overall, the research found there are six billion CDs, tapes and records worth £60billion in British homes.

Regionally, people living in Yorkshire and Humberside have the largest collections with an average of 181 albums each.

Men buy more music than women, owning an average of 178 albums compared to 135.

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