Typically, each adult says they will buy gifts for ten members of their family and close friends, totalling an average of £363. With an adult population of 50,000,000 people in the UK, this means a massive £18billion worth of presents is at risk if thieves are not kept at bay.
Andrew Lowe, Head of Direct Line Home Insurance, said: "Despite an ongoing recession, people in the UK aren’t feeling too much of a crunch on their festive shopping. People are being selective about how they spend their festive budgets, even if it means trimming gift lists and setting prudent targets for their spending. Only a very few people have called off presents altogether, and although money is tight for many, spending less means that they are still able to treat their loved ones to a little something special.
"With British adults spending nearly £400 each on gifts, many householders will find the value of their possessions has increased once they’ve stored their gifts for others and unwrapped their own. Getting finances in order is a priority for many people’s New Year’s resolutions, and included in that goal should be a re-assessment of the value of the contents within their home to make sure that they have enough insurance should their favourite things be lost, stolen, or damaged."
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