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MUSIC COLLECTIONS SOAR
The average person owns £1,500 worth of CDs and records with one in 10 owning more than 500 albums, research has shown.
Men have larger music collections than women, owning an average of 178 albums each, compared with women's 135, according to Barclays Insurance.
The group estimates that Britons collectively have six billion CDs, tapes and records in their homes, collectively worth £60bn.
However, it says people are massively under-estimating the value of their collections, claiming they think their albums are worth an average of only £635.
At the same time they are also failing to document them properly for insurance purposes, it claims.
Barclays Insurance Managing Director Adrian Grace said: "If they had a motorbike or guitar worth £1,500 they wouldn't dream of having it not properly documented for their insurance, but for some reason people are often more casualabout their music.
"Perhaps it's because we don't realize how much our music's worth."
He added that three-quarters of people questioned admitted they would not be able to remember everything they had in their collection if it was stolen.
People living in Yorkshire and Humberside have the biggest music collections, owning an average of 181 albums each.
Meanwhile those in the North East have the lowest number of CDs, records and tapes, owning only about 103 each.
The average person owns £1,500 worth of CDs and records with one in 10 owning more than 500 albums, research has shown.
Men have larger music collections than women, owning an average of 178 albums each, compared with women's 135, according to Barclays Insurance.
The group estimates that Britons collectively have six billion CDs, tapes and records in their homes, collectively worth £60bn.
However, it says people are massively under-estimating the value of their collections, claiming they think their albums are worth an average of only £635.
At the same time they are also failing to document them properly for insurance purposes, it claims.
Barclays Insurance Managing Director Adrian Grace said: "If they had a motorbike or guitar worth £1,500 they wouldn't dream of having it not properly documented for their insurance, but for some reason people are often more casualabout their music.
"Perhaps it's because we don't realize how much our music's worth."
He added that three-quarters of people questioned admitted they would not be able to remember everything they had in their collection if it was stolen.
People living in Yorkshire and Humberside have the biggest music collections, owning an average of 181 albums each.
Meanwhile those in the North East have the lowest number of CDs, records and tapes, owning only about 103 each.
