Jewellery insurance

Cover for rings, watches, earrings and other valuables

When it comes to insuring your belongings, it's important to pay special attention to high-value items such as jewellery, whether they're at home or when you're out and about. This guide will help you understand the type of coverage you need and how to find the best and most affordable insurance for your jewellery and other valuable items.

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What is jewellery insurance?

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Jewellery insurance is a specialised type of cover which protects you against loss, theft or accidental damage to valuable items such as engagement rings, necklaces and watches. It can also be expanded to include other high-value belongings in your home, such as items made of gold, silver or other precious metals, and even coins or medal collections.

What is classified as jewellery?

The definition of 'jewellery', 'valuables', or 'high-value items' can vary between insurers, but typically includes:

  • Rings, necklaces, bracelets, earrings, cufflinks
  • Watches
  • Items primarily worn for aesthetic or ceremonial purposes
  • Furs
  • Items made of gold, silver and other precious metals

However, keep in mind that unmounted gem stones are unlikely to be included as part of this category.

Knowing what your insurer considers a "valuable" can help you ensure these items are adequately covered under your policy.

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Do I need jewellery insurance if I have home contents cover?

When considering getting insurance for your jewellery, you'll need to factor in a few things to decide on the best approach to finding cover.

Firstly, the value of the jewellery, and whether it's a single item or several. From there you can either have it as an add-on to your home contents insurance policy, or buy a separate jewellery insurance policy.

For most people, home insurance can be adjusted to cover valuable items such as jewellery. But each insurer has its own acceptability criteria for jewellery. Typically, items or sets worth under £1,000 (though some insurers have a higher £2,000 limit) are automatically covered under a home insurance policy. 

But items with a higher value need to be specified within the policy to be insured as part of a home contents policy. This can be done through an 'all risks' extension or by specifically listing the item in the policy.

However, a standalone policy is often necessary if the item is of very high value – think of something worth as much as a mortgage deposit. In these cases, it's ideal if your home insurance is already a 'high net worth' policy from a specialist insurer, such as Hiscox* or John Lewis Specialist Home Insurance, which are more likely to cover expensive items.

If your current insurer can't provide the coverage you need, it might be time to switch home insurers or to get a standalone jewellery policy.

Ultimately, your decision should be based on the value of your jewellery, the flexibility of your current home insurance, and whether a separate policy offers better coverage for the cost.

What does jewellery insurance cover?

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Whether you opt for an add-on to your home insurance policy or choose a standalone jewellery insurance policy, the level of protection can vary a lot.

If you'd like to get the widest possible cover for your jewellery as part of your home insurance policy, you'll need to choose the 'all risks' extension cover, often also known as 'unspecified personal possessions' or 'personal belongings cover'.

By choosing the 'all risks' extension you'll get comparable cover to that of a standalone jewellery policy.

To get an idea of the level of cover you should get – whether it's as part of the 'all risks' home extension or a jewellery policy – we have listed some of the different elements here, but always double-check with your insurer:

  • Accidental loss. You're covered if you accidentally lose your jewellery.
  • Theft. To claim under this section, there usually needs to be evidence of forced entry or theft, either from your home or directly from you.
  • Loss of stone or gem. If a stone or gem falls out of your jewellery (and the item is otherwise in good condition), you can make a claim for the lost piece, even if you still have the rest of the jewellery.
  • Accidental damage. If you accidentally bump or knock your jewellery and it gets damaged, the insurance should cover the cost of repairs.
  • Worldwide coverage. Your policy typically covers these incidents not just at home or in the UK, but also while you're travelling abroad.

How to insure your jewellery

It's important to know that there are significantly fewer providers that offer standalone jewellery insurance compared with the number of home insurance providers. But here we break down how to go about finding the right policy to ensure your jewellery is covered.

Step 1: Contact your existing home contents insurance provider

Ask your home contents insurance provider whether your jewellery needs to be listed separately in your policy. It'll ask for details about the item and its replacement value. You might find that your jewellery is already covered under an 'all risks' extension, as long as it's within the policy's limits.

If you don't have the 'all risks' extension, ask whether your jewellery falls within the existing coverage limits and, if not, what it would cost to add this extension to your policy.

If your jewellery is worth more than the 'all risks' limit, ask how much it would cost to specifically list it on your policy. This means the item would be individually mentioned and covered.

If you're happy with the quoted price, you can go ahead and arrange the coverage with your insurer. If not, let it know you need some time to think about it and move on to step 2.

Step 2: Get new home insurance quotes

If you're not satisfied with your current insurer's offer, consider looking for a new home insurance policy. Start with a comparison website (see how we pick our order), which acts as an insurance marketplace. Sometimes, insurers offer lower prices through these sites than if you go to them directly.

When using comparison sites, make sure to include your jewellery under the 'all risks' (or 'unspecified personal possessions') section. These sites have improved in showing what needs to be specified, so they should provide quotes that include the cost of covering your jewellery. If you decide to switch insurers before your current policy ends, remember to check whether there's a cancellation fee

If you're having difficulty getting coverage, whether it's because few insurers are offering quotes or the premiums are too high, you might need to get a standalone jewellery insurance policy, so  move on to step 3.

Step 3: Find a jewellery insurance policy

If you need a standalone jewellery insurance policy and have had trouble finding cover elsewhere, you can search for a broker through the British Insurance Brokers' Association website. A broker can help you find coverage for your jewellery, possibly even from local providers or with specialist insurers that can tailor the policy for your needs.

How to make a claim on your jewellery insurance

The process involved is generally no different from making a home contents insurance claim, and to help, here we list the steps to take to make a claim.

  1. Call the police (if applicable). If your claim is the result of a crime (such as a theft or burglary), your first port of call should be to report it to the police. More info on our Burglary and theft home insurance page.

  2. Call your insurer. When you're ready to make your claim, ring your insurer. Its phone number should be on your policy documents. Many will also have a 24-hour emergency line.

  3. Send estimate for repair or other evidence if stolen. If the item is damaged, the insurer is likely to want to see a repair estimate to put right the damaged valuable. For missing/stolen items, the insurer will need evidence of what's gone, before it can make a decision on your claim. This could be photographs of the missing items, any damage caused to gain entry, a police report, or receipts (especially for high-value items which have been stolen).

Once the claim has been approved, the insurer should then get back to you about how the claim will be settled.

Top tip: Do avoid getting any repairs done, or purchasing a replacement, before it's been approved by the insurer.

For more on claiming, check out our guide on making a home insurance claim – plus our Loss assessors guide to see if professional assistance makes sense for your claim. 

Jewellery insurance FAQs

  • What proof do I need for jewellery insurance?

    This depends on the replacement cost of the jewellery.

    As a general rule, if the value of the item is less than a few thousand pounds, a valuation is not usually required. But it is also not uncommon for insurers to ask for a copy of the receipt as proof of ownership and value, especially at the point of making a claim.

    If the item is worth significantly more, a copy of the receipt or valuation shouldn't be more than three to five years old. But as always these requirements vary by insurer.

    It would also be useful to have a good quality photo of the piece of jewellery, and ideally one with the owner wearing it, as this will help to avoid any delays should the insurer want more information, such as a description.

  • Can I insure antique or heirloom jewellery?

    Yes. As long as it falls under the insurer's definition of jewellery (or valuable) then it can be insured.

    The challenge is getting it insured for the correct value, especially as no sentimental value is factored in when putting a price on it.

    To help get it insured correctly, ideally ensure that any valuations are up to date – no more than three to five years old.

  • Does jewellery insurance cover accidental damage?

    This depends on your policy and whether you've upgraded it with accidental damage cover.

    Typically standalone jewellery insurance will automatically protect you against accidental damage, but now always, so do check before buying if you're not sure.

    If instead you're relying on your home contents policy to cover your jewellery, you WILL likely need to upgrade it to get accidental damage cover. Adding this to your home contents policy will typically protect your jewellery as long as it doesn't exceed the overall valuables limit or the single-article limit.

    However, if you've specified for a particular item to be covered under your home contents insurance, then this will get automatic protection against accidental damage.

  • Does jewellery insurance cover items worldwide when travelling?

    Worldwide cover doesn't typically come as standard, but it can easily be added to the policy for an additional charge.

    To ensure you have cover while you're travelling, you will need 'all risks' cover, personal belongings cover, or the item will need to be specified due to its value.

    The 'all risks' extension provides cover for loss, theft and accidental damage when taking your jewellery (or contents) out of the home, so it's useful to have.

  • Can I insure custom-made jewellery?

    Yes. For anything classed as jewellery it needs to have been made with precious metals or stones.

    It's worth knowing that while the item may have been specially made, the insurer will only settle any claim based on its replacement value, and doesn't consider sentimental value. 

  • Do I need to keep valuables in a safe when not worn?

    This depends on your insurer and the value of the item. For most jewellery, storing it in a safe isn't mandatory. However, if the item is worth several thousand pounds, some insurers might require it, or they might limit theft coverage to when the jewellery is being worn.

    Your insurer will inform you if using a safe is necessary. If it is, the provider may specify that the safe meets certain standards, such as being approved by the Association of Insurance Surveyors. It might also require that the safe is hidden and out of sight in your home.

    If your jewellery is stolen while it's not being worn or isn't stored in the required safe, your insurance claim could be denied.

  • How do I get my jewellery valued?

    Determining the exact value of jewellery or valuable items can be tricky because the prices of metals and stones can change over time. The aim is to get as close as possible to the correct value as undervaluing your item could leave you out of pocket if you ever needed to make a claim.

    If you recently bought the item, you can usually use the purchase price as a guide, unless it was heavily discounted or on sale, in which case, try to use the non-discounted replacement cost.

    If the item was given to you or passed down, try to find something similar, to estimate its value. If you find a comparable item and the replacement cost surprises you – like one of those unexpected discoveries on Antiques Roadshow – you may need to get a professional valuation, though bear in mind this will likely involve a cost.

    Lastly, ensure that the valuation is done by a valuer who is approved by the Institute of Registered Valuers for it to be recognised.

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