HEIRLOOMS PUT AT RISK

Two out of five people have things tucked away at home they think are valuable and worth an average of £9,541, research reveals.

And they believe they will be worth nearly double that in the future if they hold on to them, according to a poll by shopping and comparison site topcashback.co.uk.

But almost half admitted their treasures were not insured, with two-fifths thinking it wasn’t necessary.

More than a fifth have simply not got round to getting items covered and one in five thought their heirlooms weren’t worth insuring.

Only three out of 10 people have had their items professionally valued yet eight out of 10 said they were told their valuables would be worth a decent sum in the future.

Hidden treasures from jewellery to old toys, art and handbags have been squirrelled away for typically around 15 years, mostly in our homes – and just one in seven items are stored securely.

More than half of these items were bought rather than being inherited and a third of people purchased them in the hope they would become worth more in the future.

Adam Bullock, UK director of Topcashback.co.uk, said: “Compared to similar research we commissioned in 2016, the same number of consumers admit to not insuring their valuables in 2018, which is a serious issue considering the value of items they have stored away.

“High value home contents are items which would cost more than £1,000 to £2,000 to replace, and certain insurance providers require you to register these objects as named items on your policy.

“However, some items may require specialist insurance.”