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Home insurance warning for Valentines Day

Thu, 11 Feb 2010

Homeowners have been warned to consider their home insurance policies when it comes to valuable gifts this Valentines Day .

According to insurance company Hiscox, 28 per cent of people don't consider their home insurance when they buy a ring and seven per cent admit they do not even know if their policy covers the items.

With the average amount spent on engagement rings now estimated to be £2,600, Simon Goddard, household insurance expert at Hiscox, believes it is worth making sure everything is in order.

He said: "The value of engagement and wedding rings is often substantial, so once you've got the answer you were hoping for, look at your home insurance policy to make sure you've got adequate cover for loss and damage."

Clydesdale Bank recently reported that couples will be spending an average of £550 this Valentine's Day, with women spending a third more than men.

It is estimated that £13.6 million will be spent on cards while £60 million will go on flowers .
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