Research from Policy Expert has revealed that Britons store some of their most valuable belongings in sheds and outhouses.
The research revealed that the average British shed holds around £1,000 of valuables and one in 10 is home to more than £5,000 worth of kit. However, 48% of shed owners admit they don’t even know whether they are insured or not. This means thousands of pounds worth of goods could be laying vulnerable in outbuildings across the UK.
The survey of over 2,400 people found that 32% use their shed as a workshop, 11% use it as a ‘Man Cave’, and 9% have turned it into a makeshift gym or workout space.
The most common items stored with sheds and outbuildings include garden tools, lawn mowers and DIY equipment (71%). However, some sheds include nothing less than a £60,000 steam engine, an original e-type Jaguar and a “50 inch plasma TV for the hubby”.
In addition, 22% of the nation’s garages and sheds are home to precious toys for the kids.
91% of those surveyed have locks in place to protect their outbuilding belongings, but many aren’t employing extra security measures such as external lighting or an alarm (12%).
Adam Powell, head of operations at Policy Expert, said: “People store all sorts of items in their sheds and garages and it’s easy to overlook the sheer value of these possessions. For that reason, people can’t forget that outbuildings are often seen as an easy target for opportunistic thieves.
“When choosing an insurance policy, it’s really important to check the small-print and make sure that the contents of your outbuildings are included. That means you need to check whether the value of the contents in your shed is covered by your existing outbuildings insurance, or whether you need to declare a specific item separately.
“And if you have a prized possession hidden in your shed, it’s also worth investing in some additional security measures such as external lighting – and not just for peace of mind, it could bring your premium down too.”