Prudential insurance urges wardrobe check

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Prudential insurance urges wardrobe check

Mon 19th Feb 2007

Many Britons are failing to adequately insure their clothing – with over a quarter having wardrobes worth more than £2,000 in value.

According to research carried out by Prudential Home Insurance, Britons collectively have some £13 billion worth of uninsured items, which could be subjected to theft or damage.

Even the financially stretched possess a wide range of clothing, with 14 per cent of those not in paid work having clothes up to a value of £500, with five per cent owning £5,000 or more.

Phil Southgate, media relations manager at Prudential Home Insurance, 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.

"The increasing popularity of low-cost clothing shops means that people are encouraged to spend money on a regular basis with the growing trend for disposable clothing," he added.

With over a fifth of people having at least three expensive designer items, Mr Southgate also advised people who do have a Prudential insurance policy to keep receipts as proof of purchase and to take photos of more expensive items.

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