£1.4bn Christmas gift bonanza for kids

8th November, 2005

UK kids look set to enjoy a gift fest that will cost adults around £1.4 billion this Christmas, reveals a new survey.

According to Churchill Home Insurance, adults are planning to spend an average of £119 on their much-loved offspring and an extra £16 on each child that they know.

The insurer estimates that the value of all these presents will take many households over the value of the contents insurance.

Overwhelmed with possessions, it is estimated that today's children have £7.3billion worth of toys and gadgets in their bedrooms including expensive TVs, stereos and games consoles.

Churchill claims that these items equate to the sum of £618, which will rise by 20 per cent over Christmas, creating a new total of £741.60.

Churchill's head of home insurance, Martin Scott said: 'It's important that once the Christmas period is over, homeowners review the value of their home contents to ensure their contents sum insured is still adequate to replace all their possessions as new.'

 

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