British consumers risk leaving their jewellery and other treasures underinsured to the value of around 4.9 billion because the cost of gold has risen by a quarter in the past twelve months, says a leading specialist insurance provider.
The RIAS Golden Age’ study found that there are more than 112 million items of gold in homes across Britain, with an average total value of 1,189 per household, giving the total value of gold jewellery and other items owned by UK consumers to be 19.7 billion.
However, almost two thirds (61 per cent) of these gold owners have never had any of their jewellery valued. This means that millions of consumers could be left under-insured, amounting to 297 per household.
Matt Graydon from The World Gold Council observed: “Due to its enduring value gold remains a sound investment for future family heirlooms. Read more…
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