Brits love the more expensive things in life
5 August 2006
On a typical day the average Brit has an 'on-the-street' value of £851 - the total worth of the clothes and jewellery we wear, the gadgets that we carry and the other possessions we take with us when we're out and about, according to new research from Zurich Insurance. And it's women that are bathed in the most riches, with a price tag of £904 compared to men, with just £725. Professionals aged over 35, however, have the highest average 'worth' of £991, because of the designer watches, mobile phones, PDAs, laptops and MP3 players they carry around with them, ramping up their worth.
However the average man (and woman) on the street is also walking around wearing and carrying expensive goods. More than one in 10 (12 per cent) wear a designer watch, and a similar number (8 per cent) carry a laptop around with them. One in six (13 per cent) have an iPod or MP3 player on them most days, and the majority of us carry around a mobile phone - 84 per cent. But being kitted out with the latest gadgets could spell out disaster. The Home Office's British Crime Survey 2006 concluded that the rise in people carrying mobile phones and MP3 players was to blame for an eight per cent increase in street robberies and muggings last year.
Worryingly, our survey found that over a quarter (27 per cent) of Britons say that at some stage in their lives they've had some of their belongings stolen from them when they've been out and about.
When it comes to carrying hard cash, however, the older generation are more flush. Over 55s have the most money on them, carrying on average £40 every day. The 25-34 year old age group seem to be living in a more cashless society as they leave the house with an average of £25. But one in seven (14 per cent) aren't covered by either contents insurance or personal possessions cover - that's a potential £5 billion worth of goods at financial risk everyday.
For many though, their treasured belongings have a sentimental worth that far outweighs their financial value. Romance isn't dead for more than one in four (27 per cent) say their wedding ring is irreplaceable. However one in six (14 per cent) seem to be more wedded to their mobile, citing their phone as their most treasured possession.
Martin Hall, Head of Home Underwriting at Zurich Insurance, said: "Everyday we are walking around wearing or carrying things that that are worth a surprising amount - and many people aren't aware of the total value of all of their gadgets and gizmos. Nearly half of our respondents in the survey were surprised at the value of their possessions, having taken the time to add them up.
"We carried out this research to remind people that if they're carrying around their laptop, expensive gadgetry or jewellery, it's a good idea for them to contact their home insurer to see whether they are covered for loss or theft outside the home. At Zurich, the extra cost to add Personal Possessions Cover to your annual home insurance could be as low as £36 - well worth it for everyone."
