Home insurance should cover gold

People who own gold items such as jewellery may want to make sure the possessions are covered by their home insurance deals.

Ian Davies, head of underwriting at Churchill Insurance, has noted gold theft is on the increase in the UK, with his company seeing a 14 per cent rise in criminal activity of this type in the first six months of 2012 compared with the same period in 2009.

Mr Davies stated: “Jewellery theft in particular has risen over the last couple of years and jewellery now accounts for around a third of our claims cost.”

Individuals looking for greater peace of mind may therefore want to make sure their belongings are suitably covered to lessen the distress caused by burglary.

Mr Davies observed thieves are targeting gold because they know they will be able to easily sell it on thanks to the increase in companies offering cash in exchange for the precious metal.

He explained that although gold is top of the wish list for criminals at present, the trend also stretches across all different types of jewellery.

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