Blingy Brits 'may not be insured'

Thousands of Britons may be selling themselves and their finances short by failing to insure their jewellery to the appropriate value, research has found.

According to new figures released by the Halifax, the average British home contains around £1,986 worth of jewels and gems, a national total of £52 billion.

Meanwhile, the study also showed that our nation likes to show off its bling outside the home, with 34 million people wearing £8.6 billion worth of decorations every day.

People in Northampton wore the most, followed by Glasgow. Residents of Swansea wore the least jewellery per day, with London surprisingly taking the penultimate position.

However, 35 per cent of respondents had never had their jewellery collection valued and ten per cent have let their valuations expire.

Martyn Foulds, senior claims manager at Halifax Home Insurance, pointed out that people may be at risk of not getting enough money back to replace the items if they are stolen.

"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 said.

He added that people may also wish to purchase a policy to cover them against the theft of their possessions when away from the home.

Lovers of bling may also be interested to know that Coutts London Jewellery Week will be held from June 11th to 15th this year.