The value of the average UK family's possessions is going to rise over the next five years, according to new research.
Insurance firm More Than claims that the average life's worth of British families will go from £70,848 to £90,422 by 2013, as people upgrade their lifestyle with new things instead of moving house at a time when the property market is unstable.
The research was based on nuclear families of two parents and 2.4 children and shows the drop in financial value of a home when different life events take place.
Co-habitation ups couples' joint home content value by 65 per cent and having one child can add up to £2,000 to the value of the family, the company claims.
The survey also predicts that the average family will be worth £124,692 in ten years and £159,408 in 15 years.
Dowshan Humzah, Product Director at More Than, comments, "Considering the current economic downturn it's surprising that the worth of the average family is set to rise over the next two decades."
Research published by Sainsbury's and reported on Yahoo earlier this year claims that 4.7 million UK adults do not have any
home insurance, with the main reason cited being people did not think it was worth it.
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