Home Insurance -
Homeowners forget to inform insurers of their jewellery values - 13/05/2008
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British homeowners are forgetting to inform their home insurer, when they have had their jewellery, re-valued according to Halifax home insurance.
Homes across in the UK contain jewellery, amounting to an average value of £1,986. With the nation’s collective jewellery box being worth a colossal £52bn, however 28 per cent of people do not tell their insurers, the value of the jewellery; which in the case of a robbery could be covered by their home insurance policies.
The figures show that 11 per cent of Britons own over £5,000 worth of jewellery. Despite this, 35 per cent of them have never had their jewellery valued, while a further 10 per cent have not had a valuation in 10 years.
The insurer also found that some 34 million British people routinely adorn themselves with jewellery worth a collective £8.6bn every day.
Martyn Foulds, senior claims manager at Halifax Home Insurance, said: “Our research shows that between us, we Brits own a staggering amount of jewellery and enjoy making a statement by wearing valuable items when out and about. However, 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.
She also added: “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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