- The NYE night in trend continues with 1.5 million people more than last year opting to stay in
- ….but damages from house parties costs £127
The majority of UK adults (31 million) will be seeing in the New Year in the comfort of their own home according to the 9th annual Post Office Home Insurance New Year’s Eve report, but they may be in for a shock and face higher costs than those who head out for the evening.
While UK adults will spend £123 hosting a dinner party at home and £85 hosting a house party – while those heading out to either a pub or nightclub will spend only £56 on average. In addition to these costs, one in ten (nine per cent) of UK adults experienced damage in their own home at a New Year’s Eve party last year, and a similar number (nine per cent) said they had seen or caused damage at someone else’s home.
Paul Havenhand, Head of Insurance at Post Office said: “This year a further one and half million people across the UK are opting to celebrate New Year’s Eve at home along with the majority of us. Although for many it will be anything but a ‘quiet night in’. People might think staying in will save them money, but in many cases quite the opposite is true, particularly if you’re having friends and family round.”
The most common mishaps were spilling food or drink on the carpet, breaking crockery, and damaging furniture or technology. The average cost of damages at New Year's Eve parties at home last year was £127, a jump from the average of £82 worth of damage caused in 2013.
Spend for New Year's celebrations has dropped £3 from last year's total, down to £47 per person, including food, drink, travel costs and their outfit for the evening – even for those planning to spend a night in. A thrifty 13 per cent won't spend anything at all while celebrating, and the biggest spenders are those aged 20-29 who say they'll spend an average of £62 each.
Londoners will spend the most, at an average of £81 per person, with those in the East Midlands keeping the tightest reign on their finances, spending significantly less at £30 each.
Paul Havenhand, at Post Office continued: “Celebrating at home isn’t without risks. Our research has shown damages can be significantly more than a night out would cost. Any homeowners or renters considering hosting a party should be sure that they are properly covered for accidental damage to avoid starting 2015 facing a hefty repair bill. We know that one in ten people who don't want to host a party are put off over concerns about breakages and damage on the night, and having adequate insurance will help to mitigate those risks.”
Overall the findings show that a quarter of us (25 per cent) plan to have a night in with a partner, a further 23 per cent will be staying in with family and one in twenty (six per cent) will be hosting a dinner or party with friends. 14 per cent will be at home alone on the last night of the year.
14 per cent (equivalent to seven million UK adults) said what they're able to afford was the dominant factor in their planning, with others being led by their families (27 per cent), and eight per cent by friends. As with previous years, the biggest determining factor was personal preference – with 33 per cent (equivalent to 16.8 million) saying they're led by personal preference when planning.
Post Office Home Insurance includes an automatic increase in cover of 10 per cent during December to cover the increased value in possessions due to Christmas gifts, and to give peace of mind to anyone planning a party at home.
Notes to Editors:
Research conducted by Opinium based on 2,004 nationally representative interviews conducted 12th-16th December 2014
*1238 out of 2004 respondents plan to stay at home on New Year's Eve. 1238 / 2004 * 50,371,000 (UK adult population) = 31,117,414 or 31.1 million. Last year the equivalent figure was 1178 / 2004 * 50,371,000 = 29,609,300. 31,117,414 – 29,609,300 = 1,508,114 or 1.5 million.
* 280 out of 2004 respondents plan to have a quite night at home alone. 280 / 2004 * 50,371,000 = 7,037,864 or 7 million
* 278 out of 2004 respondents said what they’re able to afford determines what they do for NYE. 278 / 2004 * 50,371,000 = 6,987,594 or 7 million
* 667 out of 2004 respondents said personal preference determines what they do for NYE. 667 / 2004 = 50,371,000 = 16,765,198 or 16.8 million
* 189 out of 2004 respondents who have experienced damage in their home at NYE. 189 / 2004 * 50,371,000 = 4,750,559 or 4.75 million.
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