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Don’t forget to insure your Valentine’s Day jewellery

Many Brits plan to buy expensive jewellery for their loved ones this Valentine’s Day, but have they checked whether their purchases are insured?

One in five Brits are planning to buy or receive expensive jewellery this Valentines Day, but 47% of them haven’t considered whether their new jewellery is insured.

This is especially worrying as 10% of the jewellery gifts bought this Valentine’s Day are engagement rings, according to Halifax.

David Rochester of Halifax, said: “At this time of year love is most definitely in the air and many people will be planning to pop the question with an expensive diamond.”

He warned that while insurance is not the first thing that pops to mind when planning a romantic proposal, it’s crucial that people do make sure expensive jewellery is covered both inside and outside the home.

Chris Eagle, commercial manager at Creditchoices.co.uk, advised: “Your new jewellery may already be covered under your current home contents insurance policy, so check the terms and conditions before taking out a new policy.

“Note that many insurers request that you tell them about any individual items worth above a certain amount, so you may need to give your insurers a call.”

Halifax offered additional top tips for protecting your jewellery from theft or loss:

• Avoid displaying valuables in conspicuous places such as windowsills which could encourage opportunist burglars.
• Keep valuables in a safe or lockable cabinet
• Take photographs of your valuables, and keep any valuation certificates or purchase receipts to help insurers process your claim more easily.

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