As the festive season begins, you’re probably planning what gifts to get for your loved ones and enjoying more social events. It’s a wonderful time, but it’s also a period when valuable items become more at risk. Imagine giving someone a luxury watch, stunning piece of jewellery, or a stylish handbag – what happens if it’s lost, stolen, or damaged before it even reaches them? Making sure these items are properly insured gives you peace of mind, allowing you to enjoy the celebrations without the worry.
Thinking of a truly special present?
Gold – the classic gift
Gold is a gift of choice, but its value has soared recently. Over the past six months, prices have risen by 20%, and over the past year by 46%*. If you haven’t had your gold valued in the last two years, your insurance may not reflect today’s replacement cost. Whether it’s a pair of cufflinks, a gold necklace, or a bracelet, a current valuation will assist you to replace it if it’s lost or stolen while traveling or during a party.
Diamonds for that special someone
Diamonds may be a girl’s best friend, but their value can fluctuate. Larger stones (3.00ct+) are climbing in value. Whether it’s a ring, earrings, or cufflinks, understanding the current value of your collection will mean you won’t be underinsured in the event of a loss.
Luxury watches
Thinking about getting a classic timepiece? Nearly all Rolex, Patek Philippe, and Audemars Piguet watches now have immediate replacement costs higher than retail. Over the past year, Rolex grew 0.6%, Patek Philippe 4.8%, and Audemars Piguet experienced a small dip of 2.4%*. Protect your investment this festive season and ensure your watch is adequately insured for the cost to replace it.
Handbags
If you’re gifting a Hermes Birkin, Kelly, or Constance bag, these can sell for 1.8–2.4 times higher than their retail value on the secondary market. Prices have risen 6–8% in the US and 2–4% in Europe*. Whether it’s safely at home or in transit, having insurance that reflects current market values protects you should it go missing or is stolen while you’re out celebrating.
Take some simple steps to protect your gifts
You can take several simple, practical steps to help you safeguard your gifts:
- Secure storage: Keep your items in a safe or a bank safety deposit box until they are gifted.
- Transport safely: Use insured couriers or secure transport if you need to courier valuables.
- Inventory & valuation: Take photos, keep receipts and certificates, and have items professionally valued regularly.
- Insurance: Make sure your policy covers accidental loss, theft, or damage both at home and while traveling, with limits high enough to reflect current market values.
- Digital safety: Avoid posting gift items on social media.
- Stay alert: Keep valuables secure and out of sight when at parties or traveling. Avoid drawing attention to luxury items, and remain cautious of pickpockets or mobile thieves such as those on mopeds who may attempt to snatch your watch.
- Preventative technology: Consider using a GPS tracker for items such as handbags, and ensure home alarms or cameras are in place and active.
Insurance solutions to cover your festive gifts
We provide tailored insurance with all-risks, warranty-free cover and high limits. You get personalised advice, access to specialist markets, and dedicated claims support, so you can focus on enjoying the festivities.
Contact us today to get your insurance cover reviewed and peace of mind your treasures are protected.
*Source: Prestige Valuations, with thanks for their input.
James Curnin Cert CII
Client Executive - Private Clients
Adler Fairways
