LV= survey finds wardrobe contents under estimated
Research from LV= shows that women estimate their clothes, shoes and bags are worth £1,840, compared to men's £1,470, when the true average is nearer £6,000.
LV= experts estimate that the average women's wardrobe is worth around £7,000, with clothes adding up to £5000 and accessories, including items of jewellery worth less than £1500 each, adding another £2000.
Men's wardrobes are estimated to be worth £5000 but are more likely to include expensive business and sports attire.
Underinsurance by 70%
Emma Holyer, spokesperson for LV= home insurance, said: "The majority of homeowners have contents insurance but we estimate the levels of ‘wardrobe' underinsurance to be around 70%.
“When valuing their contents people just tend to think about expensive jewellery, electronics and items of furniture such as sofas, beds and dining tables and forget how much it would cost to replace their clothing, shoes and everyday jewellery should the worse happen.
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