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Up-to-date jewellery valuations 'will keep goods insured'
People who own jewellery should always make sure their items are regularly valuated in order to keep their insurance policies up to date.
This is according to Ian Davies, head of underwriting at Churchill Insurance, who said this is particularly true of items made out of gold.
He noted that the price of the precious metal has risen significantly over the last five years, using one example where a client's jewellery had been worth £1,000 in 2006, but would now cost £3,000.
If insurance cover is not up to date, individuals may find they may not be fully compensated, Mr Davies added.
The expert also advised those with valuable possessions to invest in home security such as alarms, locks and personal safes to discourage burglars.
Nationwide recently urged students preparing for university to secure adequate contents insurance, with many individuals taking expensive items to higher education with them.
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This is according to Ian Davies, head of underwriting at Churchill Insurance, who said this is particularly true of items made out of gold.
He noted that the price of the precious metal has risen significantly over the last five years, using one example where a client's jewellery had been worth £1,000 in 2006, but would now cost £3,000.
If insurance cover is not up to date, individuals may find they may not be fully compensated, Mr Davies added.
The expert also advised those with valuable possessions to invest in home security such as alarms, locks and personal safes to discourage burglars.
Nationwide recently urged students preparing for university to secure adequate contents insurance, with many individuals taking expensive items to higher education with them.
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Published: 02/09/2011
The information in this article was correct at the time of publication and contains time sensitive data and links, it may not be accurate at the time of reading.