Home insurance might not cover Brits’ expensive gardens

15 April 2008 / by Rebecca Sargent
The UK’s gardens are packed with exotic plants, hi-tech tools and luxury furniture worth as much as £18.6 million, new research from Lloyds TSB Insurance has revealed.

The survey into the contents of UK gardens found that the average British household had £1,237 worth of goods in their garden, while as many as one in ten gardens is filled with more than £3,000 worth of luxury items.

On average, the most expensive item in a UK garden costs £426, but one in 20 gardens contained a single item worth more than £1,000. With expensive items left exposed in the outdoors it is important they are insured correctly.

According to Lloyds TSB Insurance, despite splashing out on expensive garden items, most Brits do not know whether these items are insured properly. The study found that more than half of Brits have never checked that their garden contents are included on their home insurance.

A further 87 per cent of garden owners fail to review their policy each year, meaning they do not update the value of their garden goods and therefore risk being under insured. According to Lloyds TSB, Insurance, it processed 5,244 garden claims last year, with an average value of £726, way below the average value of garden goods.

Managing director at Lloyds TSB Insurance, Phil Loney, said: "Everyone knows that we Brits are a nation of green-fingered garden lovers who like nothing better than spending time in the great outdoors. 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.

"With all the gadgets and goodies that are available, they can quickly add up and gardeners run the risk of being under insured. 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." Mr. Loney advised.

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