The Money Stop

Most Britons have possessions in their home worth considerably more than they realise, a study claims.

The average 40-year-old thinks their possessions are worth about £29,000 but in actual fact the true value of their possessions is over £40,000, according to the research from More Th>n insurance.

It is 46-year-olds who were found to have the highest value possessions in their homes of any age group, with an average figure of £40,919.

More Th>n product director Dowshan Humzah suggested the findings add weight to the old adage that life begins at 40 but expressed concern at how little thought people seem to be giving to the total value of their possessions.

“Brits work hard enough to buy things but by not keeping track of what they own, they run the risk of being under-insured.”

Meanwhile, research from Sainsbury’s Bank has suggested that British consumers are to spend £7.89 billion in the summer sales this year.

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