Valentine’s Day is the perfect opportunity to splash out on a special gift for our loved ones, or even ask ‘that’ question!
If you are treating your loved one this Valentine’s Day, then you will have thought about all the little touches that will make the day, and your gift, even more special: wrapping paper, card, dinner.
But have you thought about your insurance?
Michelle Benjamin, account executive, Sutcliffe & Co, commented: “Insurance is not an exciting nor romantic thing but unfortunately the worst can happen – despite our best efforts. If you are putting the time, effort and financial investment into getting the perfect gift, then it is important to make sure you have the right protection in place.”
So what should you think about? How can you protect your investment? Here are five top tips:
- Check your insurance policy is suitable to cover any significant new purchases – and check that you have broad cover for all risks.
- If you have a number of precious items then don’t have them all in one place: this way if the worst should happen you are unlikely to lose everything.
- Speak to your insurance broker or insurer to specify rare or valuable items to make sure they’re listed on your insurance policy.
- Take photos or even videos of your items, showing as much detail as possible – keep these photos and any documents somewhere safe should you need them in the event of a claim.
- Consider using a fire safe to protect precious items.
Michelle added: “It’s also a good idea to get your items valued regularly as prices and markets change depending on how popular things are at any given time, which is relevant for this year’s gift and ones gone by. If you have your items valued at least every three years, you can make sure everything is adequately insured.
“Paperwork can be tedious and very unromantic but a few minutes invested in ensuring your special gift is properly insured will save considerable heartache should anything happen to it.”
