A quarter of British people own clothes, shoes and accessories worth £2,000 or more while six per cent have togs to the value of over £5,000.

Many shoppers are not even aware of the value of the items they have in their wardrobes, with 77 per cent of women admitting that they often find clothes they had never worn or forgotten about.

“It is important that people assess the value of their wardrobes on a regular basis,” commented Phil Southgate, media relations manager for Prudential Home Insurance.

Earlier this month, Cornhill Direct found that the contents of teenagers’ wardrobes alone could cost their parents in home insurance, with the average teen wearing clothes worth £229.54 and accessories worth £125.65.

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© Adfero Ltd