According to research from Protect Your Bubble, loved-up Brits are spending an average £1,483 on engagement rings, up by 89% over the previous year.
The old-fashioned tradition of spending three month’s salary seems to have gone out of the window, otherwise we’d be spending over £6,000 on average for a ring! However, at £1,483 that’s still a lot of ring to lose or have stolen. 1 in 8 women admitted to having lost or had their ring stolen. Under the “Unspecified Personal Possessions” option of most standard household policies items under £1,500 don’t have to be specified, but the average still means a large proportion of the engaged or married population will have rings well in excess of this figure.
As well as making sure that these items are specified and adequately insured, consider the fact that it is also these households with the big sparklers who are more likely to become the HNW households of the future.
If you are looking for Home Insurance that offers the protection for valuables for your clients, then contact our Sales team on 01273 477784 or email baquotes@baonline.co.uk
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For more information please contact our Telephone Business Development Team on 01273 477784 and ask for Grant, Shannon or Shelley.
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For all your client’s insurance needs – Contact the GI Provider of Choice on 01273 477784 or visit www.baonline.co.uk
