£44bn at stake as Britain turns into a muggers paradise

The "walking wealth" of the nation has hit an astounding £44 billion, with Brits proving to be lucrative moving targets for muggers.

New research from Zurich Insurance shows that we all carry £972 worth of belongings each time we set foot outside.

In its 2008 Walking Wealthy Survey, Zurich reveals the average Briton is walking the streets with an average of over £970 worth of personal items. When compared to the 2006 study, the level has shot up from £851 to £972 - a 14 per cent rise in two years.

The need for consumers to own the latest ‘must have' technology and fashion is to blame for the rise in value. Thirteen per cent say they are carrying around more expensive goods than this time last year, including iPods, latest mobile phones, Blackberries and designer handbags. And people are making themselves ever more vulnerable by the conspicuous display of their flashy items - a third (34 per cent) say they often use their mobile phone or iPod in public without giving it a second thought.

While we may be desperate to get our hands on the latest gizmos and designer goods, Brits are giving little thought to the true cost of losing a treasured item. The majority of people (57 per cent) underestimate the total value of items they carry or are not even aware of how much their possessions cost (74 per cent). After totting up the total value of their possessions, 24 per cent were shocked to discover just how much their everyday items are worth with most people underestimating the value of their personal possessions by over £380!

Women are still the most likely to carry a higher price tag with an average of £1,032 compared to just £828 for men. But surprisingly, it's the Scots that top the nation's league table having an average of £1027 worth of belongings compared to £916 in the South and just £869 in the Midlands and Wales.

Despite the value of their belongings, many are not making sure they have adequate insurance to cover the cost of their personal possessions. Thirty per cent of people don't know whether their contents insurance would cover them outside their homes and 23 per cent of people don't have any form of personal possessions cover for their most treasured items.

Mike Quinton, managing director for Direct & Partnerships at Zurich said, "The majority of people in the UK are not aware of the real value of the belongings they carry on them. We all need to be vigilant and make sure we're discreet with these expensive items to avoid being targeted by muggers, especially during the summer when people often become complacent while relaxing in parks or on the beach with friends and family."

Top tips from Zurich insurance to keep your personal items safe

1. Avoid wearing flashy jewellery on public transport or in badly-lit streets or cover it up to avoid tempting muggers

2. Keep mobile phone usage discreet

3. Keep music gadgets well hidden - don't take them out of your bag

4. Make sure that you have personal possessions cover covering the items you have on a daily basis

5. Limit the amount of cash you carry on you, when going out

6. Consider carrying just one payment card on you rather than both credit and debit card and additional store cards