MORE TH>N: Possessions peak at 46

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MORE TH>N: Possessions peak at 46

Wed 25th Jun 2008

Those aged 46 are worth the most in personal possessions in the home at £40,919, the Lifesworth report by MORE TH>N has found.

For those under 40, 28-year-olds had the highest "lifesworth" value of £33,166.

But the study also showed that 55 per cent of Brits have no idea of the total value of their home possessions.

The average 40-year-old estimated their personal possessions at £28,917 when the figure is really £40,125.

People’s "lifesworth" then begins to drop in their fifth decade.

A "Lifesworth Calculator" has been launched online by MORE TH>N, coinciding with the report, to help people calculate the value of their belongings.

It can be found at www.yourlifesworth.com.

Dowshan Humzah, product director, warned that by not keeping track of their possessions, Britons "run the risk of being underinsured".

Earlier this month, the Guardian quoted figures from www.insuremyhouse.co.uk suggesting that people can save on average 39 per cent on home insurance by switching to a new provider.

The paper reported AA statistics claiming that buildings and contents insurance could drop from £368 to £227 by shopping around.

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