M&S Money urges householders to secure their sheds

From: M&S Money
Published: Wed Jul 21 2010

A new survey by M&S Money* has revealed that the average shed now holds 988 worth of contents - an increase of 100 from the 2009 figure**.

The most expensive items that people keep in their sheds are lawnmowers (38%), bikes (28%) and DIY equipment/tools (22%). However, the survey found that almost half of people questioned (49%) admitted they leave their shed unlocked at times. This figure has doubled in the past year, from just under a quarter (24%) in 2009.

Almost a fifth (18%) of respondents in this year's survey revealed they frequently leave their shed unlocked and, only 12% of respondents felt that their shed was very secure against burglary and would deter thieves.

M&S Money is urging householders to check that their home insurance policy covers items in their shed. M&S Home Insurance policy provides unlimited cover for theft of property from a shed. Policyholders must take reasonable steps to ensure they have secured their shed.

Andrew Ferguson, M&S Head of General Insurance, said: "The value of items kept in sheds can mount up, as our survey shows. We would urge householders to check whether their home insurance policy provides adequate cover for theft from a shed, and what security measures they may need to demonstrate to ensure any claims made are valid."


Notes to Editors:
* 2010 survey carried out by OnePoll for M&S Money on 30th-31st May 2010. Total sample size was 2000 UK adults. The survey was carried out online. The figures were weighted and are representative of all UK adults (aged 18+).
** 2009 figures from YouGov Plc. Total sample size was 1971 adults. Fieldwork was undertaken between 18th - 20th March 2009. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).

About M&S Money:
M&S Money (the trading name of Marks & Spencer Financial Services) was founded in 1985 as the financial services division of Marks and Spencer Group plc, making 2010 the company's 25th anniversary.

The company is a top-ten credit card provider and the second-largest pet insurance retailer in the UK. M&S Money also offers a range of insurance cover, including home insurance and car insurance, as well as loans, savings and investment products.

M&S Home Insurance policies are provided by AXA Insurance UK plc. Terms, conditions, exclusions and limitations apply. Calls may be monitored and recorded.

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Company: M&S Money
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