Wednesday, May 6, 2009
Category:
Personal Finance Tips
According to a survey conducted by M&S Money, the average garden shed contains a huge £888 worth of goods.
One respondent admitted to storing £30,000 worth of property in their shed.
Despite these significant values, it would seem that 24 percent have failed to implement security measures such as locks on their shed doors. This could explain the motivation behind thieves targeting these particular outbuildings – to the extent that 30 percent of shed owners know someone who has had belongings stolen from their shed.
M&S Insurance Manager, Judith Roberts, commented: "Sheds often contain a wealth of property, including tools or machinery which can cost thousands of pounds. Our survey reveals that many people fail to take even simple steps to secure their shed. It's not surprising, therefore, that insurers receive many claims for theft from sheds.
"Householders should check whether their home insurance policy provides cover for theft from the shed, and whether there is a limit on that cover. Even if you do have insurance, unless you secure your shed, any claim may be invalid."
M&S Money has offered shed owners some security advice so as to discourage thieves. Firstly, apply at least one heavy duty lock to your shed door. Secondly, be sure to secure all shed windows and do not keep expensive equipment on display. Thirdly, do not leave tools lying around as these could be used to forcibly enter your shed. Finally, remember to security mark all property.
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Homeowners who are currently storing goods within a shed due to a lack of space in their actual homes, could consider taking out a
secured loan in order to extend their property instead. As well as creating extra secure storage space, an extension may an alternative to moving home, if extra space is required to accommodate a growing family. A secured loan could fund smaller scale extensions such as conservatories, as well as bigger scale projects such as loft conversions and full 2 story extensions. Secured loans are one of many options to finance home improvements.
