Press Room

Romantic Brits Pop The Question With no Insurance
(13 February 2006 )

With Valentines Day on the horizon, insurance is no doubt the last thing on most men’s minds having made the important decision to pop the question to their other halves. However, with 69% of married men admitting that an engagement ring is the most expensive item they had ever bought their partner, it is concerning to see that 61% did not insure it.

Men proposing within the last ten years admit to spending an average of £985 on an engagement ring for their beloved, with surprisingly, those between the age of 18-24 being the most generous, spending an average of £1108 compared with £729 by those between the age of 25 and 34.

When preparing to pop the question, 12% of men whisked their partners off abroad and over a third (35%) had a ring ready to propose with. Well over three-quarters of men (85%) however preferred the familiarity of the UK to get down on bended knee and 60% opted to purchase the ring after proposing.

Respondents in Wales and the South West (40%) were the most prepared with an engagement ring, however only 34% decided to insure it. Those in the North however (38%) were more likely to insure the ring in advance, although they were least likely (10%) to whisk their other half off to another country to ask them to marry them.

Bob Trinder, Head of NatWest Insurance Services, said: "Getting engaged will be the highlight of many people’s Valentines Day and the last thing that couples think about is insuring the engagement ring. With many engagement rings being worth more than the maximum single item limit on insurance policies, couples risk being left with nothing if the unthinkable happens and the ring is lost or stolen."

Notes to editors:

  • The research was carried out by ICM Research from 25th - 29th January 2006.
  • A representative sample of 977 men were interviewed.
  • Products are underwritten by UK Insurance Ltd, which is authorised and regulated by the Financial Services Authority

Media Enquiries:
Caroline Harris
NatWest Media Relations
Tel: 020 7672 1931
Email: caroline.harris@natwest.com