Aviva has published a report that found the average value of household items has increased by 38% in the past five years to hit £58,000. The ‘How We Live’ report said spending on technology items was a major factor and that the rise had outstripped cumulative inflation of 25% over the same period.

Hannah Davidson, senior underwriting manager, home and lifestyle at Aviva, said: “Households are significantly increasing the amount of technology they possess, such as mobile phones, tablets and kitchen appliances. Despite this, our research shows that many UK households have unprotected belongings, particularly among renters.

“With UK households now owning items worth almost £60,000 on average, it is important they have adequate cover to protect their cherished possessions.”