Your jewellery means the world to you. That’s a good reason that you should ensure it. Of course, this won’t take away the sentimental pain, but that’s something.
In this guide, we will explain all you have to know about jewellery insurance, what it includes and excludes, and how much you might need to pay.
Let’s dive in!
Table of Contents
What is jewellery insurance?
Jewellery are really valuable items.
Before taking an insurance, make sure to get your jewellery valued and to insure it at its proper value. If you’re relying on your home insurance, remember to declare the jewellery as a valuable personal possession to your insurance company.
What is the best jewellery insurance?
You can decide to insure your jewellery with specialist insurers. We selected for you the best jewellery insurance companies:
What does jewellery insurance can help you with?
jewellery under your home insurance policy covers theft or loss of, and damage to, your jewellery, but most policies will only cover it while you’re at home.
You can decide to add personal possession cover to cover things outside your home. Jewellery thefts often happen outside the home, so this is a sensible thing to do.
You can also decide to take out a specialist insurance for your precious items. A few providers propose special jewellery insurance that has much wider cover than Home insurance and can include:
- Loss of diamond, or stones for example, if it falls out of the setting
- Accidental damage
- Loss of value if the ring has to be repaired
Does home insurance cover jewellery?
jewellery can be covered by your Home insurance.Pay close attention to the Single Article Limit in your contract, as it shows whether your ring will be covered for its full value.
While any policy will cover your jewellery while it’s in your home, you can also decide to add personal possessions cover to your policy so that it’s covered outside your home. When you’re adding this, be sure to check the claim limit you could ask for in case your jewellery is lost or stolen.
If you want full and complete protection, you should look for a specialist jewellery insurance, but check how much your home insurance includes (or can offer as extra) first.
How does jewellery insurance work?
Usually your home insurance will cover you loss, theft and damage that happens to your ring. Your home insurance for your jewellery works like any other insurance; you will have to pay an excess if you are claiming on your home insurance.
Do I need jewellery insurance?
Jeweller is valuable, but very easy to steal. So taking out jewellery insurance is really useful.
In addition, it’ll take some stress off your shoulders knowing you are insured for your jewellery.