Half of Valentine’s Day engagement rings not insured


Expensive jewellery goes uninsured for nearly half of Brits ahead of the most romantic day of the year

Loved up couples getting engaged this Valentine’s Day are asking “will you marry me?” without asking “will you cover me?” as nearly half (46%) of Britons have no idea if they are insured for loss or theft of jewellery bought ahead of the big day.

Nearly half of people buying jewellery plan to buy rings as gifts (45%) with one in ten* people planning to propose with an engagement ring. Across the UK, one in four (26%) people will buy other jewellery for their significant other on Valentine’s Day with a quarter of those spending an average of £225 on the gift. The most common splurge per gift however amounts to £100.

Other common items purchased ahead of the big day are an even split (40% respectively) between necklaces, earrings, bracelets and watches.

Better to be safe than sorry

People put considerably more effort into hiding jewellery from our loved ones to maintain the surprise, than accounting for subsequent loss or theft, with popular chosen hiding places before the gift-giving day including:

  • Back of a drawer 29%
  • In a wardrobe 25%
  • In a safe 12%
  • In a jacket 10%
  • In a bag 6%
  • In a sock 5%

However, despite taking steps to safely stow away valuables from the eyes of loved ones in, a quarter of us (24%) have lost jewellery after gifting, with a further one in ten unlucky lotharios (13%) having valuables stolen. A further fifth of affectionate gifters (22%) attribute the loss of jewellery to their partner’s carelessness (22%).

Jon Craven, CEO at Together Mutual Insurance, said: “Brits could potentially be at risk of turning a dreamy day into a real-life nightmare if they fail to insure their expensive jewellery purchases. We can be so concerned about making sure we don’t spoil the surprise that if the item is lost or stolen, it could leave a bitter taste after the romantic meal for two”

“While nobody can replace invaluable, sentimental photos and gifts, ensuring you have the right home insurance will mean you can be financially compensated in case of loss, theft or accidental damage.”