Get up-to-date valuations of jewellery and valuables
Some items, especially those that are rare and collectable, can increase significantly in value over time. The value of gold and other precious metals can also go up and down, affecting the value of jewellery.
If an item increases in value but you forget to update your insurance policy, you’ll only be covered for its declared value. If an item increases in value significantly and it exceeds the single article limit (as above, this can be around £1,500) you’ll need to add it to the policy – otherwise it might not be covered at all if you need to make a claim It’s advisable to get a valuation certificate that’s generally less than three years old so, in the event of a claim, you have an up-to-date value.
Have your valuable items re-valued on a regular basis to make sure you have enough contents insurance to cover them.
You might also want to think about the value of anything that you carry with you outside the home – for example laptops, mobiles, watches, handbag and so on and total these up so you know how much personal possessions cover you need.