Quarter of Brits' wardrobes worth £2,000 plus
Published On 19 February 2007
Despite UK debt levels surpassing the £1 trillion mark, new research has found the average British wardrobe contains £2,000 or more worth of clothes. And with such an investment in Jimmy Choo shoes or Armani jeans comes a significant insurance risk, according to Prudential Home Insurance.
A new study by the group has found there is £13 billion worth of uninsured clothes in British wardrobes. The survey also revealed that a fifth of those surveyed owned up to three items of expensive designer clothing each.
Phil Southgate, Prudential Home Insurance spokesman, said: "It is concerning that despite the average Brit being in £27,455 worth of debt, many are still prepared to spend so much on fashion regardless of whether they have a steady income.
"It's amazing how so many people fail to insure the contents of their wardrobes, especially considering that a fifth own up to three expensive designer items.
"It is important that people access the value of their wardrobes on a regular basis. We would also urge people to keep receipts as proof of purchase and for expensive items it is worth taking pictures as evidence, should you have to make a claim on your insurance policy."
A particularly extravagant 2.6 million – or six per cent of those questioned – believed the value of their wardrobes would add up to more than £5,000.
