Half of people said the contents of their garage were worth more than '500, a third said they were worth more than '1,000 and 14% said their garage contained at least '3,000 worth of goods, according to Saga Home Insurance.
Around 7% of people even said the contents of their garage were worth more than '5,000.
Six out of 10 people said they kept power tools in their garage, while 50% stored bikes and lawn mowers there, 36% used them to store sports equipment such as golf clubs, while others kept patio furniture, barbecues and power heaters in them.
But the majority of people also admitted that they kept a lot of junk in their garage.
Andrew Goodsell, chief executive of Saga Group, said: "Anyone using their garage as extra storage space should consider the value of its contents.
"Opportunistic thieves could find a wealth of goods just waiting for them. It is well worth checking to see if your insurance cover has any limits on theft from outbuildings."
People in Wales and the West Midlands are most likely to keep valuable items in their garage, with 10% admitting its contents probably add up to more than '5,000.
Those in the North West are most likely to keep junk in their garage at 76%.
BMRB questioned 1,343 people during July.
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