Do you regret making any purchases during the pandemic?
New research from insurer Aviva has found that 10% of us bought things during the Covid-19 pandemic that we subsequently regret purchasing.
People who made these now regretted purchases spent an average of £1,376 on such items.
Purchases now regretted include gaming equipment, DIY tools, home gyms, bikes, clothing and jewellery, musical instruments, kitchen appliances such as bread makers, garden furniture, pizza ovens and hot tubs.
Some respondents told the researchers they have since sold or gifted items bought in haste during the pandemic.
Reasons for splashing out on purchases during the pandemic included spending more time at home, trying to cheer themselves up, or relieving boredom.
Some reported using money they would have normally spent on holidays or social events, and others said they had planned to use the time available in lockdown to pursue new hobbies.
Nicki Charles, a customer and marketing director at Aviva, said:
“So much has changed since the start of 2020. The way we work, how we interact with others – and it seems the contents of our homes too. Faced with weeks or months at home, many of us made purchases to entertain ourselves – often costing hundreds or even thousands of pounds.
“If people have made significant purchases for their home, it’s important that they check they have appropriate cover. Many insurers have a single-item limit of around £2,000 for items in the home, so if anyone has splashed out on a lockdown purchase it’s a good idea for customers to let their insurer know, in case it needs to be listed separately on their policy.
“Even if items are now gathering dust – and our research suggests many are – they may still be valuable, so it’s best to make sure cover is in place, particularly if there’s a chance of picking up that hobby again one day.”