• Brits are sitting on collections worth an average of £2,740 each, although 60% never intended to be a collector

• Move over stamps and coins – a new era of collections is emerging as trainers are in Britain’s top 3 most popular collections

• Recent cultural phenomena such as the Barbie movie, Taylor Swift and Harry Styles tours have inspired thousands of new collectors

• Although over a quarter (28%) are worried about keeping their collections safe from theft or damage, a third (33%) don’t think their collection is covered by insurance and 34% wouldn’t know how to insure their collection

• Sky has partnered with ‘Queen of the collectables’,Tracy Martin, to help people take care of their precious collections

• New research from Sky Protect Smart Home Insurance reveals that Brits are sitting on collections worth an average of £2,740 each as it’s estimated 28 million adults in the UK have at least one collection. The research amongst 2,002 consumers reveals that books, trainers, and mugs top the list of items Brits are building collections of, yet over 60% of people don’t even consider themselves collectors.

When thinking of traditional collections, things like stamps and coins spring to mind, but the research shows that a new type of collecting is emerging and 60% of them weren’t intended. With the rise in popularity of limited-edition trainers, a resurgence of vinyl records, record-breaking blockbuster movies and worldwide music tours producing must-have merchandise, many are unintentionally building their own precious collections at home, but most don’t label themselves collectors (60%).

Popular movies, such as the Barbie film, have inspired one in five (20%) to start or grow their collection while celebrity collaborations including Nike Air Jordans have inspired 15% to do the same. Music tours, such as Taylor Swift and Harry Styles, were also a source of inspiration for 14% of people and royal events, including the Coronation of King Charles, inspired one in 10 (10%). Almost one in ten (9%) started their collection over the last year and nearly half (47%) plan to keep growing it.

Top 5 collections in the UK

Books (41%)
Mugs (31%)
Trainers (25%)
Christmas Decorations (24%)
Fridge Magnets (23%)

The research also unveils a few more unusual collections with some admitting to having accrued wigs and road signs.

On the research, Tracy Martin says: “We’re a nation of collectors at heart – many of us without even realising it – so it’s essential that people are considerate to the value their collections build up and ensure they’re safeguarded. When you talk about a ‘collection’ people might think of stamps or posters, but actually many of us are accruing collections of items which grow in value as they expand. Remember, one is single, two is a pair but three and above is a collection!”

Collecting for fun not finances

Although financial gain isn’t the main goal - with over half (53%) stating their collections aren’t financial investments - these collections could be worth more money than people think as 65% have never had their collections valued.

Despite many Brits building a valuable collection, almost two thirds (64%) agreed the sentimental value of their collections was worth more than the monetary value, and over a quarter (26%) of people consider their collections priceless because they’ve been handed down over generations.

Regardless of the huge sentimental value and increasing monetary value, 23% take no extra measures to prevent damage to their collections. Although 28% worry about keeping them safe from theft or damage.

In fact, just over two fifths (42%) said they don’t have specific protection to keep collections safe from theft, despite the research showing that people would be more upset to lose or damage their collection than their TV (29%) or laptop (27%). Whilst around half know if their insurance covers their TV (52%) and laptop (45%), a third (33%) don’t think their collection is covered by insurance and 34% wouldn’t know how to insure their collection.

Keeping your prized possessions safe

Paul Sweeney, Managing Director at Sky Protect says: “Whether a collection has monetary or sentimental value, people want to protect the things they love the most. There are many things people can do to protect their prized possessions including using smart home technology such as leak detectors, or security systems and motion detectors that can help keep their items safe. Collectors should check their insurance regularly and make sure they’re covered in case the worst happens. Covers such as Personal Possession and Accidental Damage are worth considering when insuring a collection."

To help people keep their collections safe, Sky Protect has teamed up with the ‘Queen of the collectables’, Tracy Martin, with some top tips. 

Collectables expert  Tracy’s top tips for keeping your collections safe are: 

•  Keep your most valuable collectables locked away where possible. When it comes to storing your collection, it is better to keep original packaging if you are able to. If on show, ensure they are displayed safely in cabinets or shelves to prevent any unfortunate accidents.

• Display or store your collection in a cool environment with regulated temperatures. Avoid direct sunlight and damp, do not store collectables in the shed or a loft where temperatures vary. Also avoid keeping items at a lower level in rooms prone to flooding such as bathrooms and kitchens.

• Be aware of children and pets! It's best to keep them at arm’s length from your precious collections, as although it might be unintentional, accidents can happen.

• Ensure your collection is insured by an insurer that is happy to cover personal collections. Specify any individual items on your policy that are particularly valuable or are of sentimental value and keep all receipts and proof of origin where possible in the event you need to make a claim.

• Think about the items in your home and consider whether any pieces include a collection and make sure these are protected. Once you have established your collections, account for every piece, take care of every piece and love every piece.

For further details on Sky Protect, the new home insurance product from Sky, please visit: https://www.sky.com/protect