If the cost of replacing an item exceeds the single item limit shown in your home contents insurance, then you should consider it as valuable.
In the past ten years, the gold price has gone up over 150%. So it’s a good idea to get your items valued on a regular basis.
We've lost count of the number of newly-weds who've lost their precious wedding or engagement rings whilst swimming on honeymoon. Most of them are able to claim for a replacement on their home insurance. But beware, not all policies will cover your personal belongings outside of the home.
You'll probably need to take out additional cover to make sure your valuables are insured when you're out and about. And you should check if there's a single item limit on this type of insurance too. With LV= you can add optional personal belongings insurance for items worth £2000 or less. Any item worth more than this can be specified on the policy.
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