Home Owners Encouraged to Check Their Gold is Covered by Insurance
Insurance Providers LV= Encouraging Customers to Keep Their Gold Insured
With any form of insurance one of the areas that customers are encouraged to keep an eye on regularly is whether certain areas are covered by their policy. So when there were threats of BA cabin crew workers going on strike those with travel insurance were told to check that they would be covered in such a situation.
But the latest area to find itself in the spotlight is home insurance and, in particular, whether any gold in the house is properly covered by the policy at hand.
This is not, however, a result of people buying up gold and then failing to insure it. The news comes from LV= (http://www.lv.com/), who have pointed out that gold is at an all time high, which means that items that were bought at a certain price should in fact be insured much higher today. So if there is gold jewellery around the house, maybe it is time to reconsider whether or not it is adequately covered.
LV= pointed out that those that have gold at home may need to get it re-valued, particularly if this has not taken place for a number of years. Otherwise home owners could be unfairly out of pocket whilst thieves hit the jackpot should they find their way into the house.
Gold prices have risen thanks in some part to the financial issues facing the world, with the metal famously rising when stock markets are struggling. So recent alerts concerning the US debt downgrade has only added to the value of gold further.
LV= is an insurance provider that operates as part of the Liverpool Victoria Friendly Society Limited