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Families hoard £50bn worth of junk

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British families are housing a lot of clutter, with some even storing expensive items in lofts and sheds, a new study has found.

Home insurance provider LV= claims that Brits have piled almost £50 billion worth of belongings - enough to fill 11 Wembley Stadiums.

Old clothes and sports gear are the usual items that take up space at people's homes, according to the insurer.

Some of the other things that Brits hide in their homes include jewellery and house tools.

LV= is advising owners to ensure they have adequate home insurance to cover the amount of unused items stored in their homes.

The survey revealed that one in 10 householders think they have over £1,000 of goods, while a third (35%) say they have never bothered to calculate how much the stored goods are worth.

A fifth of people (22%) are even storing junk belonging to their friends and family members, while one in 12 parents say their grown-up children fail to get rid of their old possessions from the family home once they have moved out.

A fifth say their children were in their late 20s and early 30s before they removed their last belongings.

A spokeswoman said: "This is despite the fact that the majority of standard home insurance policies do not provide cover for other people's belongings, whether they are relatives or friends, that are being stored."

© Press Association 2011