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Home Insurance -
Home Insurance May Not Cover Valuable Jewellery - 13/05/2008 |
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Homeowners are not having their jewellery regularly valued, meaning that many could be underinsured.
Halifax home insurance recently found that Brits own around £52 billion worth of jewellery, much of which is kept in their homes. That figure works out at an average of almost £2,000 worth of jewellery kept in Britain’s homes.
And 5 million of us own more than £5,000 worth of jewellery, yet 35% have never had a valuation and a further 10 per cent have not had their jewellery valued in the past ten years.
In addition to this, many of those who do get their jewellery valued fail to tell their insurer the value of their collection.
Martyn Foulds, a senior claims manager at Halifax Home Insurance, commented: “It seems many people with expensive jewellery collections may be selling themselves short by not getting their articles valued fully and insured for the correct amount.
“We would advise anyone wearing particularly valuable items outside the home on a daily basis to make sure that they are fully insured for loss, damage or theft when outside their property.”
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