Jewellery Insurance

The most expensive thing to insure £ for £ is jewellery and watches. But it’s our job to make sure you pay the right premium and one way you can reduce your premium is by talking to us about your jewellery and watch wearing habits. We often speak to new or prospective clients who have all their jewellery insured on a worldwide basis, all the time. This is often inappropriate and gives rise to a higher premium than is necessary. Rather than limit certain valuable items to being insured in the safe only, which is restrictive and requires that you let your broker know when you want to wear it, you can opt for a floating limit.

When it comes to paying your premium, rather than releasing all your capital in one lump, consider spreading the cost of your insurance over ten instalments. We charge a competitive rate for this service and adhere to fair pricing guidelines.

For more advice on how to manage your premium read our article: Ways to manage your home insurance premium

Something we hear often from our clients is that their jewellery is only of sentimental value. Whether it was a gift or something that has been inherited, a repeated question is this: “If it was loss or stolen, I wouldn’t want to replace it, so why insure it?”. Our answer is always the same – “What if it was damaged?”.

Jewellery insurance cover will typically protect you against accidental damage and loss of diamonds or stones from a piece.

It depends on the level of cover you have. When it comes to more expensive valuables, a standard home insurance policy is unlikely to be suitable. Typically, there will be low monetary limits on items such as jewellery and watches, so in the event of a claim you may not be covered properly.

A mid net worth or high net worth policy may be more suitable. You can read more about these in our article: Checking your home insurance cover.

Most contents cover options will protect valuables up to a certain amount, but this varies policy by policy and may be less than your jewels are worth.

Like home and contents policies, you’ll need to check with your insurance provider whether your travel insurance’s single item cover limit is enough to cover the value of your jewellery.

Insuring gold different is the same as insuring any other item of jewellery.  Be it diamonds, gold, silver or platinum, we can find a solution for you. We understand the value of a good policy and will help you protect your passion and investment with platinum, diamond, silver or gold cover. Here’s how: Why you need a broker for your jewellery insurance

Insuring diamonds is the same as insuring any other item of jewellery. It’s important to check the cover limits on your policy, alongside the terms and conditions, so you know when and how your diamonds are covered. For example, some polices may require you to keep your jewels in a locked safe or bank safety deposit box when not being worn, or that you can only wear a certain value of jewels at any one time, or you might need to have pieces of jewellery valued regularly.

Items over a certain figure, also called a single article limit, will need to be individually specified. Ensure that you have a valuation and that it is less than three years old. You should also consider how you would replace your jewellery in the event of a loss. Would you want a brand new replacement with a modern equivalent (New Replacement Value), second hand replacement value (which can be more than the retail value if there’s a waiting list for a piece) or would you prefer an antique replacement (Antique Replacement Value)?

Having a home safe can influence your home insurance premiums or be a condition of a home insurance policy. Insurers can limit some items as being insured in the safe only, or you may have a floating limit – particularly if you don’t wear all of your jewellery and watches all of the time.

A home safe must be approved by an insurer and be of sufficient quality to protect the balance of jewellery left in it. To find out more you can read our article: Is the jewellery in your safe as secure as it could be?

Yes. A high value home insurance policy caters for home owners who own that little bit extra.  Whether it is a property of significant value, unique features, or higher valued items within the home, it is likely that your will need a policy that gives a higher level and value of protection than a standard home insurance policy.

A jewellery collection is precious both financially and sentimentally – so it’s important to take good care of it. Keeping your jewellery safely stored and insured is the first step, while regular cleaning will make sure your jewellery remains in the best condition, helping your collection retain its value. Take your pieces to be professionally cleaned by a jeweller every year and, in between, you can use the following tips to take the best care of your jewels at home: Looking after your jewellery: cleaning tricks to storage tips.