£52bn in British jewellery boxes
Tuesday, 13 May 2008 12:08
Home Insurance: Brits stepping out with £8.6bn jewellery a day
Brits are stashing £52 billion worth of jewellery in their homes with £8.6 billion worn out a day.
On average a UK jewellery box conceals £1,986 worth of bling – according to research by Halifax Home Insurance.
Some 11 per cent of people have over £5,000 worth of jewellery.
However, 35 per cent of people have never had their jewellery valued and ten per cent last worked out the value of their collections ten years ago.
This means people maybe at a loss when trying to make and insurance claim – through either underinsuring their precious gems or not insuring them at all.
Martyn Foulds, senior claims manager at Halifax Home Insurance, said: "Our research shows that between us we Brits own a staggering amount of jewellery and enjoy making a statement by wearing valuable items when out and about.
"However, it seems many people with expensive jewellery collections may be selling themselves short by not getting their articles valued fully and insured for the correct amount."
He added: "We would advise anyone wearing particularly valuable items outside the home on a daily basis to make sure that they are fully insured for loss, damage or theft when outside their property."
Across the country Milton Keynes has the most bulging jewellery boxes – brimming with £3,186 worth of bling – followed by Preston (£3,001), Stoke (£2,919), Aberdeen (£2,730) and Hull (£2,700).
However, when it comes to stepping out and showing off their bling, Northampton folk wear most jewellery on a daily business – followed by Glasgow, Wrexham, Plymouth and Preston.