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. If you already own some gold items you may be surprised at how much they are worth and so it’s worth looking into a valuation sooner rather than later.”

Similar Posts:

• Music downloads of ??1.3billion at risk without home insurance
• Collecting on life insurance policies
• Insuring Your Kid’s Dorm Room on Your Homeowners Policy
• Accidental damage insurance can revive broken toys this Christmas
• Home insurance claims set to rise for repairing New Year’s Eve damage