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Jewellery Insurance or Travel Insurance - Which Offers the Best Protection For Your Jewellery?

May 09, 2023

Travel insurance, it's an essential for sure, especially when it comes to medical expenses or cancelled flights. But is it the best option for your jewellery, or is specialised jewellery insurance the way to go? We answer these questions and more so you can relax knowing you've protected your most precious sentimental investments when travelling.


Key Features of Travel Insurance

Suppose you're travelling with an expensive item––a diamond engagement ring destined for acceptance after a love-fuelled proposal atop the Eiffel Tower. Who’s to say you're not going to be a bundle of nerves that trip over their feet, dropping that sparkler over the edge and into the River Seine nine hundred and six feet below––stranger things have happened. In all seriousness, situations such as these will make you want to ensure you travel with adequate cover.

Many travellers assume that their policy will cover everything. It’s a rookie error and one we want to help you avoid. Always read the PDS before signing up for a policy, especially when opting for travel insurance. It's a given that there will be specific limits and sometimes sub-limits on expensive items, so you'll want to know what these are before signing up for a policy. If your jewellery exceeds the limit provided under the policy, specialised jewellery insurance from JewelCover can ensure it is adequately protected.

Example: Losing your luggage—and more.

Loved-up veterinarian, Adam, is travelling to the Maldives for a one-week holiday with his girlfriend of two years. He's packed his suitcase with summer attire, ready for a week of fun in the sun, but most importantly, with an engagement ring worth the equivalent of three months’ salary.

Unfortunately, when Adam arrives at Malé International Airport, he discovers that his airline has lost his suitcase and, ultimately, the engagement ring he planned to propose with. 

Before embarking on his journey, Adam opted for a travel insurance policy, thinking he would be covered for $20,000 for theft, loss or damage of his personal belongings. However, he didn't realise that his travel policy disclosed a sub-limit of $1000 per item claimed.

When lodging an insurance claim for the engagement ring, Adam was understandably disappointed to find out that the maximum he could claim on his lost ring would be $1000. Factor in his excess, and he was extremely out of pocket with a less than ecstatic fiancé.

Although fictitious, this could be a reality if the policy you choose is insufficient.


Key Features of Jewellery Insurance 

Specialised jewellery insurance is ultimately the best way to protect your jewellery while travelling. JewelCover jewellery insurance covers you for loss, theft and damage worldwide and allows you to return to your original jeweller for replacement and repair.

Other key features of JewelCover specialised jewellery insurance include:

Agreed value: You agree on an insured value with a specialised jewellery insurance policy. So in the event of a loss, an approved claim is paid in the agreed value amount. Not a value “up to” the insured value.

Worldwide coverage: Specialised jewellery insurance offers worldwide coverage with the confidence to wear and enjoy your jewellery no matter how long you travel.


Travel Insurance Limitations

It’s always important to be aware of exclusions that may apply. They are often hidden within the Product Disclosure Statement (PDS) and are another reason for ensuring the document is read in its entirety before committing to a policy. For example, items will often not be covered if left in an unattended public place, similarly, if claims are brought about due to reckless behaviour. Travel insurers may also depreciate your items upon determining the amount to be paid.


What to Look Out For in Your Policy 

  • Do your research: Take the time to research different insurance providers and their policies. Look for providers that specialise in jewellery insurance and have a good reputation.
  • Compare policies: Compare policies from different providers to see which offers the best coverage for your needs. Consider factors such as coverage limits, deductibles, and exclusions.
  • Look for comprehensive coverage: Make sure the policy covers all types of risks and threats to your jewellery, including loss, theft, and damage.
  • Check the claims process: Look for a provider with a straightforward and efficient process. It should be easy to file a claim and receive compensation.



Jewellery insurance coverage is essential to protect your valuables, especially something as sentimental as an engagement ring. With the right policy, you can have peace of mind in the unfortunate event of theft, loss, or damage.

Are you getting ready to travel? Get an online quote today. With JewelCover, you will enjoy no hidden fees and coverage as it should be: simple, secure and just for your jewellery. We’re here to help you protect the jewellery you love.


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