British consumers risk leaving their jewellery and other treasures underinsured to the value of around £4.9 billion because the cost of gold has risen by a quarter in the past twelve months, says a leading specialist insurance provider.
The RIAS ‘Golden Age' study found that there are more than 112 million items of gold in homes across Britain, with an average total value of £1,189 per household, giving the total value of gold jewellery and other items owned by UK consumers to be £19.7 billion.
However, almost two thirds (61 per cent) of these gold owners have never had any of their jewellery valued. This means that millions of consumers could be left under-insured, amounting to £297 per household.
Matt Graydon from The World Gold Council observed: "Due to its enduring value gold remains a sound investment for future family heirlooms. If you already own some gold items you may be surprised at how much they are worth and so it's worth looking into a valuation sooner rather than later."




