A recent study has shown that those holding antiques in their home seem to be lacking sufficient insurance for their valuables. Purchasing the correct insurance is a must, particularly when housing expensive and beloved antique collections.
The figures revealed that 41% of valuable jewellery and antiques are left uninsured due a lack of careful reading of their home insurance policy. The study also showed that 16% of people don’t have home insurance at all which could be a very dangerous thing to be without.
Another interesting point noted in the research was that the most common insurance claims were from jewellery items, at 22%, watches, at 12%, and earrings, at 10%, with the most common reasons behind the claims being for theft and accidental damage, totalling 41%.
When you have valuables that mean so much to you within your home, it is important to ensure that you have the correct insurance as protection. As much as we all hope that no harm would come to your antique beauties, there is no certainty that they are safe, so it is better to be covered just in case.
When taking a look at insurance policies ensure that you look at whether your valuables will need to be listed individually so that you are assured that they are covered as high value items may not meet the criteria to be included as standard.
The head of Churchill home insurance commented “We urge people to regularly take the time to have their jewellery valued and make sure they are comprehensively insured on a policy that protects the full value. It is important to consider if you have an item that exceeds the policy limit and follow the procedure necessary to insure that item. For many, the impact of under-insurance is only realised when it’s too late, but this is preventable.”
If you have a collection of pocket watches, take a look today and check that your antique treasures are protected from any nasty surprises!