Parents to inherit £300 million of belongings from children

British parents face being left with more than £300 million of their children's belongings as Britain's students leave home for university this month.

New research by Lloyds TSB insurance has found that nearly three quarters (73%) of UK parents are left to look after their children's possessions after they fly the nest. A quarter (26%) don't know if these are insured or don't have cover for the items.

However, one in five (22%) parents admits to ‘inheriting' an entire bedroom full of their kids' abandoned belongings worth on average £735 per household, with the most popular items including toys (80%) and books (80%), clothes (61%), pictures/ornaments (55%), music (46%),sports equipment (44%) and gadgets (34%).

Tim Downes, senior claims manager, Lloyds TSB Insurance, said: "Although one in 10 (12%) parents does not know the value of the possessions their children leave behind, it's important for insurance purposes that parents can identify items of value that they plan to keep when de-cluttering their nests. Often possessions such as books can be more valuable than they appear, so ensuring you have a comprehensive cover will help give you peace of mind, knowing your valuables are protected."               

Lloyds TSB Insurance has joined forces with housing and homelessness charity Shelter to launch a national Clutter Amnesty as university terms begin.

Tim explained: "The Clutter Amnesty aims to free up space for almost a million parents. Over a third of parents admit to having thrown out their child's belongings after they left home without telling them, but we encourage parents and children to discuss the future of these items together and donate unwanted possessions to Shelter shops across the UK."

Richard Sweet, director of trading at Shelter, said: "By the time they leave for university, many teenagers have accumulated mountains of  gadgets, books, clothes and music, leaving parents to deal with a roomful of clutter.

"Taking part in the Clutter Amnesty and dropping off a bag of donations at one of Shelter's shops will not only help parents declutter their own homes, but will also raise money to help those struggling to find or keep a place to call home themselves."

Further research from the home insurer also revealed that more than a quarter of parents (28%) cling on to their children's possessions for sentimental value.

Dr Kairen Cullen, chartered educational psychologist, said: "Flying the nest can be an emotional time for parents as they are suddenly faced with more freedom and must accept that the child has grown up. Often parents keep their child's belongings because they're associated with specific memories but holding on to such items can delay the important transition from having an adult-child relationship to having an adult-adult relationship.

"Because objects can give people a sense of safety and well being, most people live with more clutter in their home than they actually need. Taking steps to clear out unnecessary items can help parents to deal with this important stage in their lives and their children's, while benefiting from the positive feelings associated with giving to charity.  Sensitive communication by parents about their plans to de-clutter with their children is obviously of key importance."

While the emotional aspect is a key factor in the build of up clutter in the Britain's empty nests, more than half of parents (55%) ended up clearing out their child's room within a few months of them moving out. The majority of parents turn it into a guest room (55%), while over one in ten (13%) parents creates an office or library with the space.

Tim added: "Parents who have grand plans for their child's bedroom which could alter the layout or extend the home should notify their insurer as changes like this could impact their policy. Failing to disclose such things could invalidate a claim at a later date."

For more information visit lloydstsb.com/insurance.