Irish Wedding News
14/08/2015
The Family Finances Report by Aviva, found that the typical family home in Britain is a three-bedroom semi-detached house with one bathroom. It was built in the 1930s and is owned with a mortgage. Furthermore, the mortgage is likely to be in the name of David and Susan – found to be the most common names in British families – while the family car, a Ford Focus, is likely to be parked on the driveway. Elsewhere, the report said there are an average of 2.7 people living in the family home.
Some 28% of respondents said they are emotionally attached to their home, with a further 55% wanting to make improvements to their property. The most common home improvement was said to be a new kitchen.
When it comes to possessions within the home, under-25s are believed to have £18,834 worth of items covered by their contents insurance; but by they reach the age of 45, this has jumped to £39,167. On average, a family has household contents worth £35,486.
However, despite this, the report revealed that 31% of families have no contents insurance. This equates to more than 3.9 million households in England alone. Others were found not to have adequate insurance in place in the event of a loss of income. 35% of families did have life insurance in place, but just 11% have critical illness cover and only 8% have income protection.
Commenting on the statistics, Louise Colley, Managing Director, Protection at Aviva, said: "Whether it's the average 1930s semi, or something else entirely, Aviva's research confirms that British families have an emotional attachment to their homes. They also own over £30,000 worth of belongings, with the value accumulating over their lifetime.
"However, a significant proportion are failing to keep not just their homes and valued possessions protected, but also themselves. Not having appropriate insurance leaves families at risk of falling into debt – or worse, losing their homes – should the main breadwinner become unable to work.
"We'd urge every family to check their financial foundations to assure themselves they are secure and protected against all eventualities."
(JP)
20/03/2020
LeToya Luckett-Walker Is Pregnant
Charlotte Crosby Finds New Romance
Lydia Bright Gets Candid About Giving Birth
Lana Del Ray Splits From Boyfriend
Angelica Ross Learns Of Boyfriend's Secret Life
Ashley Graham's Breastfeeding Struggle
Susanna Reid's Mother's Day Plans
Lin-Manuel Miranda Homeschooling Kids
Kristen Bell Speaks Of Pride For Daughters
Prince George & Princess Charlotte Now Homeschooled
Survey Reveals 'Average' UK Family
A typical family in Britain today lives in a semi-detached home built in the 1930s, and named The Cottage, according to new research.The Family Finances Report by Aviva, found that the typical family home in Britain is a three-bedroom semi-detached house with one bathroom. It was built in the 1930s and is owned with a mortgage. Furthermore, the mortgage is likely to be in the name of David and Susan – found to be the most common names in British families – while the family car, a Ford Focus, is likely to be parked on the driveway. Elsewhere, the report said there are an average of 2.7 people living in the family home.
Some 28% of respondents said they are emotionally attached to their home, with a further 55% wanting to make improvements to their property. The most common home improvement was said to be a new kitchen.
- - - - - - Advertisement - - - - - -
When it comes to possessions within the home, under-25s are believed to have £18,834 worth of items covered by their contents insurance; but by they reach the age of 45, this has jumped to £39,167. On average, a family has household contents worth £35,486.
However, despite this, the report revealed that 31% of families have no contents insurance. This equates to more than 3.9 million households in England alone. Others were found not to have adequate insurance in place in the event of a loss of income. 35% of families did have life insurance in place, but just 11% have critical illness cover and only 8% have income protection.
Commenting on the statistics, Louise Colley, Managing Director, Protection at Aviva, said: "Whether it's the average 1930s semi, or something else entirely, Aviva's research confirms that British families have an emotional attachment to their homes. They also own over £30,000 worth of belongings, with the value accumulating over their lifetime.
"However, a significant proportion are failing to keep not just their homes and valued possessions protected, but also themselves. Not having appropriate insurance leaves families at risk of falling into debt – or worse, losing their homes – should the main breadwinner become unable to work.
"We'd urge every family to check their financial foundations to assure themselves they are secure and protected against all eventualities."
(JP)
Top stories
20/03/2020
LeToya Luckett-Walker Is Pregnant
Charlotte Crosby Finds New Romance
Lydia Bright Gets Candid About Giving Birth
Lana Del Ray Splits From Boyfriend
Angelica Ross Learns Of Boyfriend's Secret Life
Ashley Graham's Breastfeeding Struggle
Susanna Reid's Mother's Day Plans
Lin-Manuel Miranda Homeschooling Kids
Kristen Bell Speaks Of Pride For Daughters
Prince George & Princess Charlotte Now Homeschooled
