LV= Insurance reveals Brits own over £23b worth of sports gear
www.moneynews.co.uk > Insurance > LV= Insurance reveals Brits own over £23b worth of sports gear
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LV= Insurance reveals Brits own over £23b worth of sports gear
Wed 27th Feb 2008
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It discovered that over £10.2 billion worth of golf clubs, bikes and tennis racquets have not been used in the last six months, while £4.4 billion of specialist sporting equipment, such as climbing and diving gear, has been left to gather dust for over three years.
The bank has labelled Brits as "all gear and no idea", due to the fact that 23 per cent of UK adults will buy a whole new kit when they take up a sport or hobby, despite the fact that it is often just a passing phase.
Although sporting equipment is generally expensive, over 1.9 million people admitted to storing their items in the garden, on display in the car or in an unlocked shed, leaving them vulnerable to theft.
Emma Holyer, spokesperson for LV= home insurance, advised would-be athletes to work out exactly how much equipment they have and add up the total cost, so they are aware of how much they would have to fork out to replace it.
She added: "We tend to think that the most costly things to replace are jewellery or electronics, but sporting equipment can cost thousands of pounds."
Ms Holyer recommended that homeowners ensure they have adequate personal possessions cover, which will generally cover sports gear against theft in and out of the home.
Yesterday the AA told holidaymakers not to pay for extra baggage insurance if they already have personal possessions cover, as that should insure their luggage against theft or damage.
Related News : Insurance |
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Related News : LV= |
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