Home insurance warning over rings and valuables

An expert has urged homeowners to check that any new engagement rings or valuables are covered by their home insurance policy .

In addition to cover in the home, many insurance companies can also cover these possessions elsewhere, so it may be worthwhile checking.

Mike Powell, insight analyst at Defaqto, reminded people that many policies only cover valuables worth up to £1,500, so they would have to inform their provider to ensure security.

He added: There are some insurance providers who state that cover is only provided within the policy 'geographical limits' and for a specific number of days anywhere in the world.

For example, cover is only given for 60 days in any one period of insurance for personal possessions taken anywhere in the world.

Expecting the usual Valentine's Day spending spree on rings and gifts, a number of insurance companies had been warning customers of the need to check their policies in recent weeks.

Hiscox said that 28 per cent of couples do not even consider their home insurance when buying a ring.