- Also, specialist insurer's own research shows 57% do not know the monetary value of their vintage items -
London, UK (3rd August, 2011): Austyn Tusler, home insurance expert at Hiscox comments on the sale of a William Burges Brooch for £31,000 that was featured on the Antiques Roadshow:
"People may not realise the treasures that lay collecting dust in their attic or in the case of the £31,000 brooch, at the bottom of a jewellery box. Vintage items are forever popular and we have found in our own research that a significant 57%* do not know the monetary value of their own vintage valuables."
"Treasures could be sitting right under your nose and with 31% inheriting a vintage item, it is crucial that people think about all of their possessions and have adequate insurance in place. If people don't know the value of an item there are many experts who can provide specialist advice. We at Hiscox for example offer our high net worth clients a 'walk through' their property with expert risk and valuation surveyors in order to help them understand the true value of their home and contents."
Hiscox’s insurance checklist for jewellery and other valuables:
- Notify your insurer or your broker of any significant new acquisitions
- Get a professional valuation every three years to guarantee that the insured value reflects current market trends
- Keep a copy of your professional valuation with your broker, bank or solicitor for safekeeping
- Take major items of jewellery to a good jeweller each year to check them, ensuring for example that clasps and settings are in good condition
- Have your jewellery cleaned professionally as doing it yourself or giving it to an amateur to clean might cause abrasions or other damage that could reduce the value of your item
- Where possible, keep items that are not being worn in a suitable safe
For more information on jewellery insurance visit http://www.hiscox.co.uk/personal-and-home/contents-insurance/jewellery-insurance/
For further information or to arrange an interview with Austyn Tusler, please contact:
+44 207 448 6494
Notes to editors
* Hiscox commissioned research with Opinium Research among 1010 UK Adults (505 Male, 505 Female) in the ABC1 socio-economic group from the 26th to the 28th of July 2011.
Hiscox, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). There are three main underwriting parts of the Group - Hiscox London Market, Hiscox UK and Europe and Hiscox International. Hiscox London Market underwrites internationally traded business in the London Market - generally large or complex business which needs to be shared with other insurers or needs the international licences of Lloyd's. Hiscox UK and Hiscox Europe offer a range of specialist insurance for professionals and business customers, as well as high net worth individuals. Hiscox International includes operations in Bermuda, Guernsey and USA. Hiscox Insurance Company Limited, Hiscox Underwriting Limited, Hiscox Europe Underwriting Limited and Hiscox Syndicates Limited are authorised and regulated by the Financial Services Authority.
For further information, visit www.hiscox.com .
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