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Car Insurance and Home Insurance from Cornhill Direct Insurance
Press Releases

Press Releases

Date Sep 28, 2007
Brits have a staggering 4.6 billion of cash lying around in their homes, according to a shocking new survey.

More than three quarters of people admit to stashing cash in their house, with the average Brit hiding 127. But a more affluent eight per cent have anything in between 300 and 1000 in the house at any time.

And while most people use drawers, tins and pockets to store the money, one respondent even uses the FREEZER to store their hard-earned cash.

But the poll by insurance firm Cornhill Direct revealed that a third feel uneasy about keeping large sums of money in their house.

Almost one in ten have even had some of their hidden stash go missing.

Despite this, 40 per cent of the 1,500 people polled think storing money in the house is a good idea and a staggering 45 per cent reckon the recent difficulties at Northern Rock will mean more people will ditch the bank and keep hold of their cash.

More than four per cent of the people who stash the cash say it is because they are fed up with bank charges and also worry about something happening to their bank.

Another 13 per cent keep the money there as a reserve fund and 45 per cent like having it at home so they have it ready to pay for something in cash.

But a lazy one in ten Brits admit it is just because they can't be bothered to keep going to their bank or building society to withdraw the money.

Mark Bishop, a spokesman for Cornhill Direct, said: "Our home contents policy provides protection for money kept in the house, but it is never a good idea to keep large sums in the house."

Some of the cash stashers are especially secret about their hiding places as even their own partners don't know about the money.

Although 58 per cent say their partners do know about it, almost 36 per cent say they have a little stash that only they know about.

Top 10 hiding places for cash

1. Drawers

2. In a tin

3. In pockets

4. In a cupboard

5. In a safe

6. Hidden on shelves in a wardrobe

7. Under the bed

8. In a flower pot

9. Under the mattress

10. Under the floorboards


Notes for Editors:  

1. The survey of 1,500 people by OnePoll was conducted for Cornhill Direct in September 2007.


2. Keeping cash in the house – insurance implications

The Cornhill Direct household contents policy covers £500 cash for the usual risks in the home, including fire, theft and water damage. What is not covered:

- any loss not reported to the police within 24 hours of discovery.
- loss or damage caused after your home has been left unfurnished or unoccupied for more than 60 days in a row.
- any theft or attempted theft which does not involve force or violence to get into or out of your home while you have a tenant, lodger or paying guest.

3. Cornhill Direct - Background  

Cornhill Direct was established in 1995 and is part of Allianz Insurance, one of the largest general insurers in the UK . Cornhill Direct provides car, home, travel.
Web Address: http://www.cornhilldirect.co.uk Telephone Number: 0800 32 888 31


4. Media Contacts  

An ISDN line is available for broadcast interviews.