UK Money News
8th February 2008
Brits splash out on Valentines Day
As far as Britons are concerned nothing says 'I Love You' like an expensive present, a study suggests.
According to a poll conducted by online payment company PayPal, 23 million Britons will spend a total of £1.6 billion on gifts for their beaux and belles this Valentines Day - equating to an average spend of £71.25.
Meanwhile, one-fifth of adults who have got the love bug especially badly spend between £100 and £249.
However, this is dwarfed by romantic sorts who want to seize the day to propose, who are likely to find their wallet diminished to the tune of £1,005.
Given the extent of this expense, it is prudent to ensure that the ring is properly insured,
Andrew Lowe, head of Direct Line Home Insurance, said:
"Insurance is probably the last thing on most people's mind when they are showering their loved ones with gifts on Valentine's Day.
"Having the right cover in place could prevent heartache if the unthinkable happens and that precious item is lost or stolen."
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