Friday, June 25, 2010
Category:
Secured Loans
According to a study conducted by Confused.com, which involved a poll of 3,000 people, Brits’ gardens are worth an average sum of £825. The most expensive items that contribute to this value were found to include lawnmowers and strimmers, sheds and greenhouses, and patio furniture.
Furthermore, the study revealed that nearly two thirds of those surveyed own a barbeque; 22 percent have a vegetable patch; and 2 percent have a hot tub in their garden. It was also revealed that, compared to other areas of the home, a third of respondents spend the most money on their garden, with three quarters reportedly having a preference for their garden over any other area of their property.
Head of home insurance, Darren Black, commented: "The nation is certainly more ‘Good Life' than ‘Footballers Wives' as we'd rather spend time with a bag of fertilizer than in a tub of bubbles."
"While the green-fingered can't insure their carrots and spuds, it is important they think about all those other things in their garden when buying house insurance. Many assume their garden's contents are covered under home insurance when this is not always the case. The cost of replacing these items if they were stolen or damaged could be significant.
"Gardens are more prone to theft and damage during the summer and it's likely householders are undervaluing their garden contents in the same way they do their household contents."
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Homeowners who feel that their garden is too exposed to prospective thieves – contents included – could consider taking out a
secured loan to rectify the situation. One of many finance options available, a secured loan for home improvements could allow borrowers to put up a high wall or fence around the perimeter of their property for example. This should act as an obstacle to entry, whilst also obstructing views into the property. Borrowers may also wish to build a secure outbuilding in which to safely store any expensive outdoor belongings that may currently be lying around.
