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How Much Does Jewellery Insurance Cost?

Last updated on March 04, 2024

If you were to lose your engagement ring or your father’s Rolex this month, would you be able to replace it? It would be tragic to move on without these precious items, but most of us don’t have that kind of discretionary money in our accounts.

That’s why so many people choose to insure their treasured possessions with JewelCover insurance. But how much does jewellery insurance cost? And how do you start a policy?

In this article, we’ll look at factors that determine the cost of quality cover as well as the process for applying.



How much is your jewellery currently worth? You might be surprised to learn that the value of a piece of jewellery fluctuates. Some years, it might be worth more, and some years, it will cost less to replace it. Why?

The jewellery industry is highly influenced by fashion. Trends come, and trends go, and when a piece of jewellery is in vogue, its price can skyrocket.

Other factors have an even more significant impact on a piece’s value. Precious metal prices rise and fall, depending on supply and demand. Gemstones, too, may be easier or more difficult to obtain from year to year. Your jewellery’s value is also affected by the cost of labour and currency exchange rates.

Every year, our jewellery experts offer a complimentary revaluation to our customers. This benefit helps you to know how much your piece is worth, so you always know you have enough cover.



Yellow gold, titanium, rubies and diamonds. These are just a few of the hundreds of precious metals and stones jewellers use in their magical creations. The cost of your jewellery insurance depends on your piece’s materials, in part. Rare and expensive materials, like platinum and coloured diamonds, will elevate the price.



Another factor that influences the cost is the labour involved in creating or repairing the piece. Some designs require more considerable skill than others; pieces that need the work of a specialist cost more to insure.

Take a pair of filigree Georgian earrings, for example. Jeweller’s technicality requires patience and great skill, and these factors increase the cost of replacement.


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Return to Your Jeweller

Even if your piece is a simple diamond solitaire engagement ring, you should be able to return to your original jeweller. You chose that jeweller for a reason. Maybe her style matches your own, or perhaps he’s known for unbeatable quality.

Whatever the reason, we want you to experience peace of mind when the unexpected happens. Part of that peace comes from returning to a familiar jeweller you’ve already chosen.


Customer Service

Do you have to pay more for excellent service from your jewellery insurance company? We don’t think so!

Here are a few comments from our satisfied customers:

Highly recommend Jewel Cover!! Super easy to receive a quote and insure my new watch... Raff was a pleasure to deal with and communicated almost instantly to all my questions! Delighted to now have peace of mind that watch is insured.

Garry was very helpful. Guided me through the whole process, which was very straight forward and now the items I want ensured are covered.


Protection from the Start

Let’s say you’re purchasing an engagement ring. It’s by far the most expensive piece of jewellery you’ve ever bought, and you’re scared out of your wits that you’ll lose it or damage it.

Why not protect it at the point of sale? You’ll feel much more comfortable when you know it’s protected from the moment you walk it out of the shop. Does it cost more to insure jewellery from the point of sale? Not with JewelCover!


How Much Does JewelCover Insurance Cost?

Now that we’ve looked at the factors that influence the cost of jewellery insurance, you want to see the numbers in black-and-white, right? 

All you have to do to get a custom estimate for your piece of jewellery is to give us a few details. We’ll whip out an instant quote, giving you all the details you need to make a wise decision. And if you have any questions, feel free to ring us at 1300 522 808. Talk to you soon!


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