How to Choose the Best Jewellery Insurance

Your mother’s pearls. Your engagement ring. Your grandfather’s Rolex.

Losing one of these items feels like a nightmare. How to Choose the Right Jewellery Insurance for 

But with so many options, how can you decide? We’ve put together a list of questions to ask when you explore prospective jewellery insurance companies. Remember that it’s possible to get excellent cover for an affordable price. Let’s get started.

1. What are the hidden fees?

When you’re dealing with a loss, the last thing you want is to discover your insurance comes with hidden fees. What you need is secure and straightforward jewellery insurance that doesn’t come with unpleasant shocks. 

2. Will my jewellery be covered outside of Australia?

We think you should be able to wear your engagement ring on your Bali honeymoon or take your diamond earrings with you to your sister’s destination wedding in Thailand. That's why our insurance is designed to cover your pieces wherever you travel, subject to the policy's terms, conditions and exclusions.

We don’t place limitations on how long you can be away, either. Whether you’re gone for a weekend or a semester abroad, you can explore with confidence and confidence.

3. Is my jewellery covered both inside and outside of my home?

We often hear this question from people who have relied on cover from their home and contents insurance. With some contents policies, your jewellery is only protected when it’s physically inside your home.

Since we only protect your jewellery (and leave your laptop and bicycle to your contents policy), we don’t have to impose such restrictions. We love jewellery as you do, and that’s why we make it possible for you to wear it with assurance at home, at work, and everywhere else you go.

4. How much protection does your insurance provide?

Some insurance companies replace items at the lowest price possible, but that’s not how we roll. Our policies feature an insured value, meaning if a claim for a total loss is approved, we pay the total sum insured. Under our replacement policy, an approved total loss claim is paid in line with the insured value shown on your policy schedule, subject to the policy's terms, conditions and exclusions.

This means that, subject to the policy's terms, conditions and exclusions, an approved claim is intended to support the repair or replacement of your favourite jewellery.

Our customers pay the insurance premium on an agreed insured value. So in the event of a total loss, an approved claim is paid in the amount of the insured value. Not a value “up to” the insured value.

5. Can I go back to my original jeweller for repair or replacement?

Yes! Part of that restoration process includes having the option to go back to your original jeweller. There’s a reason you chose that jeweller in the first place. Maybe you loved her style, or perhaps his craftsmanship is second-to-none. Whatever the aim, you already made a connection, so it only makes sense to return.

We can help to coordinate repairs and replacements directly with your jeweller, making your life easier. That’s what we’re here for.

6. How do I know if I have enough cover?

Do you know what your engagement ring is worth? If you’ve had it for a while, you’re probably not sure. Jewellery values change, depending on trends, availability of materials, and other market factors.

Unless you know how much your jewellery is worth, it’s impossible to know if you have enough coverage. That’s why we revalue our customers jewellery every year. 

Traditional home and contents policies state that it’s your responsibility to ensure that the insured value is correct, but most people don’t want to pay for a valuation each year. We provide complimentary assessments for our customers. You can rest assured that your jewellery is revalued every 12 months by our professional jewellery consultants. 

7. What’s your customer service like?

Losing your engagement ring is maddening. We understand that, and we do everything we can to minimise our customers’ stress in their time of need.

Once we have the information necessary for processing your claim, we’ll handle it quickly, keeping you updated every step of the way. We aim to make quality jewellery cover affordable and to support you through the claims process, in line with the PDS.

Ready to learn how affordable it can be to insure your treasured jewellery? We can get you an online quote. If you’re more of a talker we’d love to chat, call us on 1300 522 808.