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Mar 5 2008
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Honeymooners urged to check ring insurance |
Newly-wed couples heading off to villas abroad are being warned check that they have adequate insurance for their rings.
A rise in the value of precious metal has seen many couples under-insuring their jewellery which means they could be forced to pay out hefty amounts for a replacement.
Honeymooners often choose to stay in self-service accommodation while on holiday, with villas in Spain and France proving particularly popular.
But although the likelihood of loosing jewellery on a villa holiday is less than for other types of trip, it is still vital that adequate cover is purchased.
Figures from Abbey show that around 1.8 million Brits will propose to their partners this year, many of which are likely to do so while staying in a sunny villa abroad.
However, the building society's research also found that 14 per cent of Brits have no insurance whatsoever for their jewellery.
Abbey's Lloyd Wilson said: "The number of people who don't think about insurance for their engagement rings and other precious items is quite staggering.
"With the average engagement ring costing around £1,200, it's important to arrange insurance immediately if you're one of the 1.8 million planning to propose this year."
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