LV= Liverpool Victoria Insurance Sports Equipment Study
Published: 03/03/08
Liverpool Victoria, known also as LV=, has carried out a study on UK homes, revealing that the average home has over GBP1,100 worth of sports equipment in it. They also found that most of it is used only rarely. It will still need protecting with contents insurance though and so should not be overlooked.
It seems that UK consumers love the idea of getting all the equipment to do a particular sport but then, when the initial interest wears off, they simply put it away. This is the situation almost a quarter of the Liverpool Victoria survey respondents confirmed. Right now in the UK there are bicycles, tennis equipment and golf clubs worth over GBP10 billion that have stood idle for six months.
Some other more specialised sports equipment is used even more rarely and really supports the Liverpool Victoria findings regarding things being put away when interest wanes. Almost GBP4.5 billion worth of specialist gear, including diving and climbing equipment has been left unused for over three years.