Homeowners urged to beware under-insurance

Specialist home insurer Hiscox has urged homeowners to ensure that their home contents insurance is up to date and affords them appropriate levels of protection.

Recent years have seen the value of gold and platinum rise, and with Valentine’s Day rapidly approaching couples up and down the country will doubtlessly buy one another expensive gifts of jewellery.

Hiscox home insurance expert Austyn Tusler said that people who receive expensive jewellery gifts ought to inform not just their friends but also their insurer.

Independent jewellery consultant John Benjamin explained that a number of factors, including high commodity prices, the VAT rise and a florushing global market, had combined to create an exceptionally strong jewellery market.

Benjamin went on to warn that people who had not had their jewellery revalued in the last two to three years ran the risk of being under-insured.

Last year Hiscox revealed that wedding presents had a total value of up to £12,000 and made an increased level of home contents coverage essential.

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