Home insurance a must for romantics popping the question this Valentine's Day Go compare with our comparison table

Home insurance a must for romantics popping the question this Valentine's Day

08 February 2010 / by Rachael Stiles

One in five Britons are expecting to either give or receive expensive jewellery this Valentine's Day, but almost half have given no thought to whether or not this gift will be covered by their home insurance.

According to research from Halifax home insurance, 10 per cent of the jewellery purchased in preparation for the coming weekend will be engagement rings, while other romantics will be buying watches and other pieces of jewellery.

Halifax is urging romantics to protect their generous gifts under their home insurance, as 47 per cent have not considered whether the gift will be covered for loss or theft under their existing policy.

A further 16 per cent assume that the items will be covered under their home insurance, while only 27 per cent are certain that their purchases and gifts will be covered because they are or will be listed on their contents insurance policy.

When it comes to protecting expensive jewellery, 10 per cent of women have no home contents insurance compared to just five per cent of men, which means that women are more vulnerable to lost engagements rings and other expensive items.

Commenting on the findings, David Rochester, head of underwriting for Halifax home insurance, 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, or buy a valuable gift to show how much they care. 

"When planning a romantic proposal, insuring a valuable gift is not necessarily the first thing that springs to mind, so we are reminding people to make sure expensive jewellery is fully covered both inside and outside the home."

To protect their jewellery, Halifax home insurance urges owners to get expensive jewellery valued every few years, inform their insurer about high value items, and retain receipts, photographs and certificates as proof of purchase, in case they need to make a claim.

David Rochester added: "We recommend anyone with items over £1,500 in value take out additional specified items cover to ensure their most precious possessions are protected both inside and outside the home too."

© Fair Investment Company Ltd