Are you as accident-prone as many Brits appear to be? Are your valuables in danger of being lost? Check, have you still got you engagement ring or wedding ring in place?
If your cry is ‘No! It’s not there’, you are seemingly not alone.
According to new research by jewellery insurer Protect Your Bubble, accident-prone Brits can’t seem to keep hold of their valuables.
It found that married couples lost or misplaced a combined £3.2 billion worth of engagement and wedding rings over the past five years.
Over 10% of unlucky couples lost an engagement or wedding ring over this period.
More than a third of the rings lost disappeared down the drain.
Other losses occurred when the ring was taken of and misplaced or the ring fell off their finger, often when swimming, and they couldn’t then find it.
Of note, men are almost twice as likely to lose their rings than women.
Lost stones from engagement and wedding rings are also a frequent occurrence. A costly loss too as they cost over £300 on average to replace.
Can you believe it though that despite all this, more than half don’t have any insurance protecting their rings from loss, damage or theft.
And should the worst happen, they’re not cheap to replace, with an average engagement and wedding ring setting you back £1,080 and £1,363 respectively over the last five years.
Rob Basinger, head of UK at jewellery insurer Protect Your Bubble, said: “It’s heart-wrenching to see that so many Brits have managed to misplace their engagement or wedding rings in recent years.
“Couples spend days and days planning for what is often the biggest day of their lives, so it’s worrying to find that Brits struggle to keep track of their rings once the big day is over.
“As engagement and wedding rings are two of the most important symbols of a couple’s love and devotion to one another, they are well worth protecting.
“While nothing can ever truly replace a piece of jewellery that has significant sentimental value, investing in the correct insurance can offer you some financial reassurance, should you manage to lose yours.”
Diane Ray, MoneyHighStreet.com coments: “When buying any insurance, you really need to think carefully about what you need to cover and then find an insurance policy or policies that meet this need.
“A lot of people buy home insurance. This will invariably include insurance cover for your valuables, covering such as you engagement or wedding ring, up to a set amount.
“This amount is called the ‘single item limit’ and is set at different levels by different insurers on their policies.
“With some standard policies valuables are also only allowed up to a certain percentage of the total amount of contents insurance cover you have.
“Buying a specific insurance policy for your jewellery, as offered by such as Protect Your Bubble, may well be worth you considering.
“However, be aware that in order to qualify for their jewellery insurance, your jewellery must have been purchased as brand new within the last 5 years (I for one with my engagement and wedding ring would not qualify, having bought them nearly 20 years ago!)
“The best thing to do is shop around. Compare buying a home insurance policy and/or a specific jewellery policy.
“As you compare, don’t just focus on the price. The cheapest may not be the best. Look at what is covered by the policy, the premium and make sure you understand any limits, exclusions and excesses, the amount you have to pay towards any claim you make.”