This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Cookie Policy. Read more

'Liar-buyers' cause home insurance problems

24 February 2006
British shoppers are lying to their partners about just how much money their purchases cost, according to research by a home insurance company.

Men secretly stash £864 million worth of shopping that their other halves do not know about, which includes cutting edge gadgets and designer gear.

Traditionally, it is women who are known for downplaying the actual cost of their shopping sprees, but research by Norwich Union has found that the tables have turned.

Men sneak an average £336 a year in purchased goods past their partners, compared to just £227 smuggled in by female 'liar-buyers'.

Rebecca Holmes, Norwich Union spokeswoman, said: "Our research shows that the tables have turned. Men have always accused women of spending too much money on shopping, but now it's the men who are hiding their expensive shopping."

This downplaying item costs could prove seriously problematic for home insurance policies, according to Norwich Union.

Ms Holmes asked: "If couples are lying to each other about the cost of what they are buying, are they also under-valuing their home contents insurance? If they haven't told their insurer the true value of their belongings, they could lose out in the event of a claim.

"We strongly advise couples to be upfront with each other about their spending in order to avoid bigger financial problems later down the line."

To read more about Home Insurance, click here.

track© Adfero Ltd