Valentine's gifts 'need adding to home insurance'

08 February 2010 10:16:15

Romantic gift givers have been advised to ensure presents are covered by home insurance to avoid making their potential loss or theft even more painful.

One in five people will buy or receive expensive jewellery this Valentine's Day, but Halifax Home Insurance is concerned that many of these gifts will remain uninsured.

The insurer found that 47% of people had not considered whether their new jewellery would be insured, while 16% assumed it would be covered by their existing policy.

"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," said David Rochester, head of underwriting at Halifax Home Insurance.

"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," he advised.

However, Britons who are expecting a shower of gifts this Valentine's Day may be sorely disappointed, as a survey by penny auction site MadBid.com suggests that 40% of people plan to spend less than £20 on their partner, while nearly 20% will buy nothing at all.

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