With the nation's wrists, fingers, necks and ears gleaming
with jewellery, consumers have been advised to make sure
that having bling does not blind them from protecting such
possessions.
Such is the assertion of Halifax Home Insurance in which a
study reveals that the typical British household contains
1,986 pounds worth of jewellery, with just over one in ten
(11 per cent) respondents owning rings, necklace, earrings
and other items with a combined value of more than 5,000
pounds. Overall, the country was indicated as having finery
to the total value of 52 billion pounds.
Research from the financial services firm also showed that
those living in Milton Keynes own the most expensive amount
of jewellery on average. People from the Buckinghamshire
town have possessions costing a typical 3,186 pounds,
compared to the 3,001 pounds in finery consumers in Preston
own. London, Glasgow, Stoke and Aberdeen were among the
rest of the top ten places in Britain with the costliest
jewellery collections.
For those looking for an effective way in which to fund the
purchase of an expensive piece of jewellery, taking out a
personal loan may be recommended.
Martyn Foulds, senior claims manager for 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."
"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," Mr Foulds added.
The study also showed that people in Northampton are most
likely to show off their jewellery collection. According to
Halifax, the average consumer in this area wears 469 pounds
worth of items everyday, with a total of 2,627 pounds kept
inside the typical property in the town. Meanwhile, people
living in Glasgow and Wrexham wear an average of 468 and
460 pounds worth of jewellery on a daily basis.
With significant numbers of consumers owning costly amounts
of jewellery, Halifax advised people to their particularly
expensive items valued. Of the five million Britons owning
more than 5,000 pounds of finery, more than a third were
indicated as never having gone to a jeweller to have such
items inspected. A further ten per cent were revealed to
not have done this for at least a decade. Meanwhile, just
over a quarter of respondents were revealed to have failed
to notify their insurance provider after getting their
jewellery valued. It was stated that having valuations on a
regular basis can help consumers make an accurate insurance
claim based on the current worth of their jewellery. Those
looking to file a claim were also advised to keep
photographs of their items.
People looking to buy an expensive piece of jewellery,
whether it is a designer watch or pearl earrings, might
wish to consider getting a personal loan. By getting a
low-cost loan, it may be possible that borrowers can
purchase an item quickly and are left with an affordable
level of repayment. The additional monetary assistance
which a loan provides could also help people to take out
comprehensive insurance policy.
Getting a loan for the purposes of buy a ring in addition
to obtaining sufficient insurance might be recommended to
those looking to get married. A recent study by Abbey
Insurance indicated that 42 per cent of people purchasing
engagement rings do not have adequate cover, with 15 per
cent unsure whether or not they have insurance for such an
item of jewellery.
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Abbi Rouse writes for All About Loans where visitors can
apply online for cheap loans. We also specialise in bad
credit loans, and debt consolidation. Vist Today:
http://www.allaboutloans.co.uk
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