Home insurance: UK gardens have £18.6m stashed away
£18.6 billion at the bottom of Britain's gardens
Saturday, 12 Apr 2008 00:06
The UK's gardens have exotic plants, hi-tech tools and luxury furniture worth up to £18.6 billion.
A survey by Lloyds TSB Insurance reveals the contents of the average garden are worth £1,237 – with the typical most expensive item worth £426.
However, many gardens are even more luxurious, with one in ten filled with goodies worth over £3,000 – with five per cent of all gardens containing items worth over £1,000.
What's more gardens seem to be in constant use – with one quarter of Brits (26 per cent) enjoying more than six hours a week in their garden during the spring and summer months.
"Everyone knows we Brits are a nation of green-fingered garden lovers who like nothing better than spending time in the great outdoors," said Phil Loney, managing director, Lloyds TSB Insurance.
"It's hard to put a price on the pleasure of a barbeque on a summer's evening but gardeners should stop to think exactly how much their backyards are worth."
One third (33 per cent) of British gardens have ornamental plants; one quarter (25 per cent) have statues and ornaments; while one in five (22 per cent) has a water feature.
Almost one in ten (7 per cent) has a patio heater, while 6 per cent has a sun house.
But despite spending so much on their gardens, most Brits don't know whether they are insured properly.
Over half (55 per cent) have never checked their garden contents are included on their home insurance, while 87 per cent don't review the value of their gardens each year to make sure they are covered.
"With all the gadgets and goodies that are available, they [homeowners] can quickly add up and gardeners run the risk of being under insured," said Mr Loney.
A typical garden claim for Lloyds TSB Insurance is over £700; but in our survey, Brits estimated their backyards to be worth on average £1,237.
"Home insurance policies vary greatly and often have limits on how much they cover outside. Take time to calculate the value of everything outdoors and choose a policy to suit your gardening needs," concluded Mr Loney.