Holidaymakers urged to check cover

26 January 2009 10:58

Holidaymakers urged to check cover

Anyone planning on heading overseas should ensure they check how much their valuables are insured for, according to a new report.

Increases in the value of precious metals mean that jewellery such as engagement rings could now be worth more than previously thought, Abbey has warned.

The price of gold rose more than 30 per cent in 2007, the report said, and the price of platinum as also increased significantly.

"The number of people who don't think about insurance for their engagement rings and other precious items is quite staggering," said Lloyd Wilson from Abbey.

"With the average engagement ring costing around £1,200, it's important to arrange insurance immediately if you're one of the 1.8 billion planning to propose this year."

According to the study, 75 per cent of Britons own at least one item of valuable jewellery, but 14 per cent do not have any form of cover for such items.

A recent report from Moneysupermarket revealed that often an annual travel insurance policy is better value for money than single trip.ADNFCR-1320-ID-18496076-ADNFCR

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Martin Rothwell, Senior Partner World First Travel Insurance, says:

Travel insurance policies nearly always have a limit on the amount of valuables in total which will be covered in baggage. Cover can vary dramatically from one travel insurance policy to the next. With cover for single items (including jewellery) averaging £250, travellers will find problems with their travel insurance if they need to claim. It is therefore worth extending your household contents insurance to include all-risks, which will then cover your jewellery whenever it is outside the home and not when you are just on holiday.