Holidaymakers urged to check cover
26 January 2009 10:58
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.