How to insure the top five luxury Valentine’s gifts?
What’s been your most memorable Valentine’s gift to date? Was it the necklace you’d spotted in the shop window weeks ago? Or a piece of art that instantly brought back treasured memories of a favourite trip? Perhaps, you were the one giving the gift and still remember the look on their face when you handed your loved one something that felt exactly right.
These gifts carry sentimental value… and can also come with a hefty price tag. Items like jewellery, watches and luxury accessories often sit well above the limits of a standard home insurance policy, and because most standard policies set single item limits between £1,500 and £2,500, anything above that may need to be listed separately.
In this article, we take a look at five popular Valentine’s gifts and what to think about when it comes to your insurance.
1. Engagement rings
Engagement rings are amongst the most frequently gifted items on Valentine’s Day. For many, their engagement ring is one of the most expensive items of jewellery they own – and that’s not even accounting for the emotional value it holds. To ensure the value of the ring is kept up to date, many insurers ask for updated valuations every two to three years.
For those who already have high net worth home insurance, you’ll likely be able to add an engagement ring as part of your existing policy. For those with moderate cover, this may not be possible, and it may be best to take out standalone protection.
2. Luxury watches
It’s no secret that luxury watches command attention, often holding strong resale value and remaining popular targets for theft. Whether you favour Rolex, Cartier or Patek Philippe, their popularity makes it important to insure a high‑value timepiece properly.
As with engagement rings and other jewellery, if a watch exceeds your policy limit, you’ll need to add it to your existing cover or arrange standalone protection.[1]
3. Fine jewellery
Bracelets, necklaces and earrings usually fall under valuables rather than general contents. Their value can quickly exceed standard policy limits, meaning they may not be fully covered unless they are listed individually. That’s why it’s important to conduct regular valuations and take clear photographs help insurers confirm value and settle claims accurately. [2]
4. Designer handbags
Some designer bags hold, or even increase, their value and can quickly exceed a policy’s default limits – even if the purchase price didn’t. Brands like Hermès are often considered investment pieces because their resale value can rise sharply due to exclusivity and demand. Because of this, insurers may treat certain luxury brands as higher risk.
5. Limited edition accessories
Rare watches, collector pieces and bespoke luxury items can exceed standard policy limits very quickly, and their value often increases over time. Many insurers recommend specialist high value or high net worth cover once individual items approach £25,000, or when a total collection reaches £50,000.
For all of these items, it’s wise to keep receipts, certificates and photographs. These make it far easier to insure them accurately and support any future claim.
Finding the right protection for high value items
Choosing the right insurance starts with understanding where your standard policy limits stop. Depending on your provider, you may be able to add high value items individually.
Specialist insurance can offer more tailored protection, including cover for accidental loss and wider protection when travelling with luxury pieces. This is particularly valuable for those who regularly wear or carry high‑end items.
Before surprising your loved one, take a moment to refresh your policy to avoid any unexpected gaps in cover. These items deserve protection that reflects both their sentimental meaning and their monetary worth, ensuring they remain safeguarded long after Valentine’s Day.
Want to know more?
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Email: info@jameslindsay.co.uk
[1] https://www.allianz.co.uk/insurance/magazine/home-magazine/jewellery-and-valuables-insurance.html
[2] https://www.allianz.co.uk/insurance/magazine/home-magazine/jewellery-and-valuables-insurance.html