Brits stash cash at home

Fri, 28 Sep 2007

Brits are stashing their cash at home rather than taking it to a savings account, new research by a home insurance firm has found.

Conducted by Cornhill Direct, the study shows three-quarters of Brits keep cash in drawers, tins and even in the freezer .

According to the figures of the survey, the average Brit will have £127 stashed in a home, although eight per cent of respondents admitted to having between £300 and £1,000 in their home at any given time.

Spokesman for Cornhill Direct Mark Bishop commented that homeowners should consult their home insurance policies to see if they are covered for such large amounts of cash.

"Our home contents policy provides protection for money kept in the house, but it is never a good idea to keep large sums in the house," he said.

One in ten respondents claimed they keep the cash on them because they can't be bothered to go to a cash machine .

Legal and General and Abbey Home Insurance have both conducted surveys recently claiming that the kitchen and the bedroom respectively are the rooms where homeowners keep the most important valuables.

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