Insurance - Make sure Valentine's jewellery gifts are covered, Halifax advises

Ensuring sufficient home insurance is in place should be considered as Valentine's Day approaches, it has been reported.

As Cupid's arrow prepares to strike on February 14th, loved-up Britons are being advised to consider insurance.

With Valentine's Day just around the corner, Halifax reveals that around half (47 per cent) of people are yet to think about insuring the jewellery gifts they intend to purchase for that special someone.

This compares to 27 per cent of consumers who are certain that their pieces of valuable jewellery are protected by contents and buildings insurance.

Meanwhile, 16 per cent assume that such items will automatically be covered by their home insurance.

However, taking out British insurance to protect against theft or loss was advised, as the firm indicates one out of five people are planning on giving or receiving expensive jewellery this Valentine's Day.

Indeed, a recent study by Sheilas' Wheels showed £40.5 billion worth of jewellery is set to be purchased in the build-up to February 14th.

"When planning a romantic proposal, 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," David Rochester, head of underwriting for Halifax, points out.

By Mark Hornby