The benefits of Jewellery insurance


Jewelry is a prized possession for anyone. Jewellery holds a lot of memories, whether it’s a diamond necklace you received from your grandmother or your beloved engagement ring.

From a financial perspective, jewelry makes a great investment. Consequently, it is up to us how we protect them in the event of an accidental loss, damage, theft, or burglary. In some instances, bank lockers and deposit boxes can be used to protect your jewelry. People are becoming more aware of jewelry insurance, however. Getting good insurance requires a valuation report to support the jewellery claim. You can get quality jewellery insurance at if you want to get quality service.

The benefits of jewellery insurance

It is always risky to keep jewellery at home. However, you can’t keep every piece of jewellery in your locker. As a result, getting insurance is a good idea.

The following are some of the primary reasons to get jewellery insurance:

The insurance covers repairs

It’s important to understand that jewellery insurance does not only cover theft or burglary. There is a risk of wear and tear when you wear expensive jewellery pieces on a daily basis, such as diamond rings.

The best jewellery insurance plans also cover damages and repairs. In this way, if you break a clasp or miss a stone from any piece, you can easily replace it.

Having peace of mind

You will be stressed when you invest in a lot of expensive jewellery pieces. It is never good for your mind and health to be under stress.

It is for this reason that people prefer to insure their jewellery. You will be less stressed when you know that your expensive pieces of jewellery are insured properly.

Misplacement of jewellery

It’s more common than you think. Jewellery is delicate and stones can easily be lost. It is possible for the prongs or the clasps to become loose over time. If you snag it on something, it will likely go missing.

You need replacement value in situations like these, which insurance can provide. You will be covered by insurance for the amount you need to replace the missing part.

An armed burglary

As burglary and thievery have risen in the U.K. in the last few years, one of the most frequently stolen items is jewellery. Even the most precious heirloom engagement ring isn’t worth your life, is it?

As a result, if you face burglary, home invasion, or theft, you know your ring or other expensive pieces are protected.

Long-term, it is cost-effective

There are times when you need to make short-term investments to cover long-term costs. Jewellery insurance comes in many forms. They usually cost 1-2% of the item’s value.

A jewellery valuation for insurance can help you choose a policy that fits your budget. If you invest a small sum of money, you can avoid a much larger loss.

What role does valuation play in jewellery insurance?

It is for this reason that most insurance companies do not consider jewellery claims without a proper valuation report. Metals and gemstones fluctuate in price with the market. The value of the jewellery is directly affected by that.

So, if your jewellery needs replacement, but you haven’t valued it for years, the compensation will be incorrect. The company will usually offer you an inferior product or price in such cases.

If you fail to provide a recent and authentic jewellery valuation for insurance purposes, your claim won’t be considered legitimate. It is a standard condition of most insurance companies to produce a valuation report in the event of a jewelry loss.