Brits now prefer 'making do' over buying new.

08/09/2011

We’re now in an era of ‘making do’ where 66% of Brits say they would fix broken items rather than buy brand new replacements.

Saving for the future and paying off debts also take precedence over having the most up-to-date gadgets and keeping up with the latest fashions.

These new priorities have been revealed in our second Changing Face of British Homes Report (PDF: 1.42MB)* and show a significant shift in how people regard their home and their possessions over the past three years.

Saving for the future is rated an important priority for the next 12 months by over 76% of those polled for the Changing Face of British Homes Report, with paying off debts rated important by 55% of people. In contrast, only 19% see having the latest gadgets as important.

Our preference to ‘make do and mend’ is in stark contrast to the findings of the first Changing Face of British Homes Report carried out in 2008, in which 86% of Brits admitted to replacing broken or damaged household items without any attempt at fixing them first.

Upgrading properties by making home improvements – rated important by 46% of respondents – is also revealed to be more of a priority than moving to a bigger home or a home in a better area. Only 22% of respondents rated this as a priority for the coming year.

The research also reveals that Brits are keener to spend disposable income on enjoying experiences with friends and family, such as entertaining at home, rated important by 43% of people surveyed or taking part in hobbies like sport or music (49%) than they are on buying new ‘big ticket’ items for their homes. Buying items such as sofas and white goods like washing machines, fridges and freezers was rated unimportant by 73% of respondents.

It is therefore important to regularly check that you have sufficient contents insurance in place regularly as the total amount of your home contents could be a lot higher than you’ve estimated. We have an online contents insurance calculator which enables you to tot up your possessions, room by room and is a great way of checking that all contents and possessions are taken into account.

We offer different home insurance to suit people’s different needs, Essentials and Extra

Essentials and Extra are designed to give customers a choice by providing two distinct levels of cover. Essentials covers the basics like fire, flood and theft. Essentials is designed to cover basic home insurance needs and would suit, for example, someone just starting out in their own property. For those who have built up their homes and possessions, our Extra product provides more comprehensive cover, including items such as patio furniture and freezer contents.

Limitations and exclusions apply, please refer to the policy booklet for further details. Find out more about our contents insurance or, alternatively, get a home insurance quote.

* The research for the second Changing Face of British Homes Report was conducted by Opinion Matters, an independent market research agency, between 15 and 29 July 2011. A total of 2,000 members of the public were polled across the country.

The first Changing Face of British Homes Report was issued in June 2008 and was based on an ongoing survey of over 27,000 British adults on behalf of Legal & General almost exclusively by online omnibus company, YouGov in waves of at least 2000 GB representative adults.

---