Matthew Ashton

Written by

Matthew Ashton

7 minute read

Updated 14th February 2024

Stand-alone jewellery, engagement ring and luxury watch insurance cover items that do not fit a standard home policy or because you desire discretion.

The stand-alone jewellery, engagement ring and luxury watch market is a little peculiar because, unlike high-value home insurance, a broker usually only has one available product under a binder arrangement (you can find out more about binders on Lloyd’s website). The product distributed is unique to that broker, meaning you cannot find one location to see all the available products, until now.

To help you find the right insurance for your jewellery, engagement ring or luxury watch item(s), we have created a central directory for all available UK stand-alone jewellery and luxury watch brokers/products.

Please bear in mind this directory:

  • Does not recommend which product(s) could be right for you,
  • Does not assume product appetite. It would be best if you talked to that product’s distributer to find more information.
  • We may have missed a product, so feel free to contact us if you believe this directory needs to include any additional high-value home products.

If you’re looking for an indicative cost only, you can find that here.


Assetsure

Established in 2007, Assetsure, a trading name of Hildon Park Limited, are a specialist company dedicated to providing their customers with insurance products to suit their needs, from hearing aids to jewellery.

  • Accidental loss included: Yes
  • Accidental damage included: Yes
  • Policy excess: £0
  • Underwritten by: Ashton General Insurance Limited
  • Their basis of settlement for jewellery: We will decide whether We repair, replace, issue a Gem Card, appoint a personal jeweller or offer cash settlement (p5 of their policy wording).

Chelsea Insurance Brokers

Established in 1994, Chelsea Insurance Brokers identify as a boutique-style brokerage, who are highly responsive, nimble, and able to get things done in innovative ways. They provide coverage for a wide range of items, including jewellery.

  • Accidental loss included: Yes
  • Accidental damage included: Yes
  • Policy excess: £0
  • Underwritten by: The Channel Syndicate
  • Basis of settlement: If Your claim has been agreed by us, We will decide whether we will: a. have Your item repaired or restored, and by whom, b. replace Your item with one of comparable quality, c. pay You the current Market Value up to the sum insured. In the event that We agree to a Cash settlement, the amount We will pay will not exceed the amount it would have cost Us to replace the item with one of equal quality. We will not pay your costs of preparing a claim (p17 of policy wording).

Highworth Insurance

Founded in 2012, based in Dorset, Highworth Insurance believe providing a clear cut, easy to use service. Now part of the Howden Group, they offer high levels of cover to meet their clients particular needs, without complication or excessive premiums.

  • Accidental loss included: Yes
  • Accidental damage included: Yes
  • Policy excess: £0
  • Underwritten by: Axa XL
  • Basis of settlement: Should an item insured be lost, stolen or damaged, we have the right to base the settlement on either: a) the amount insured shown on the schedule, b) the current market value of the item insured, c) replacement of the item insured with one of comparable quality., d) repair or restore the item insured (p9 of policy wording).

Juno Insurance

Juno is a trading name of Hildon Park Limited. Named after the goddess of love and romance, Juno is dedicated to insuring precious items of jewellery such as engagement and wedding rings.

  • Accidental loss included: Yes
  • Accidental damage included: Yes
  • Policy excess: £0
  • Underwritten by: SCOR Syndicate 2015
  • Basis of settlement for jewellery: In all cases, the most we will ever pay for one item is: (1) For items not individually specified, the item limit shown on the policy schedule. 2. For items individually specified: the sum insured amount shown on the policy schedule for that item. The most we will pay in total for each incident of loss is the amount insured as shown on the schedule. 3. Our assessment of a claim, including relevant endorsements and exclusions, shall be based upon the sum insured shown on the policy schedule for that item. In the event that we agree to a cash settlement, the amount we will pay will not exceed the amount it would have cost us to replace the item with one of equal quality using our own network of suppliers (p18 of policy wording).
  • Basis of settlement for watches: We will decide whether we repair, replace, issue a GemCard or offer a cash settlement. If we settle your claim by GemCard, your car will be preloaded to the amount of the assessed value of your claim (p18 of policy wording).

Ripe Insurance

Established in 1998, Ripe insurance launched their first product, the Golfers Club. Based in Manchester, their ethos is all about making insurance easy-to-buy and simple-to-understand, jargon free and excellent value. From caravans, to music or jewellery, they can offer a solution.

  • Accidental loss included: Yes. But only if previous insurance held within 60 days of inception.
  • Accidental damage included: Yes
  • Policy excess: Variable
  • Underwritten by: Aviva Insurance Ltd
  • Their basis of settlement for jewellery: The basis of valuation for settlement will be the value agreed by Us and shown in the schedule. We will not be liable for more than the agreed value. In the event of a partial loss or damage to any item insured the amount payable will be the cost and expense of restoration plus any resulting depreciation but not exceeding the full value of that item. If the item(s) insured is proven to be beyond economical repair, a claim will be dealt with as if the article had been lost. For pre-owned or second hand watches the value provided must represent the amount to replace the watch with one of a similar age and condition in the UK. For inherited watches, the value provided can be either the second hand or pre-owned value as above or the value of the item as purchased from new. All values provided must be supported by Evidence of Ownership and/or a Jewellery Valuation (p9 of policy wording).

TH March

Established in 1887, the son of a Hatton Garden diamond merchant, Tommy March (frequently known only by the initials T.H.M.), discovered that marketing insurance was more profitable than selling jewellery. TH March are an established name in the commercial and consumer jewellery market.

  • Accidental loss included: Yes
  • Accidental damage included: Yes
  • Policy excess: £0
  • Underwritten by: Beazley Furlonge Ltd
  • Basis of settlement: In the event of a claim we will, subject to the exclusions, limitations and conditions of the certificate: • At our sole option repair or replace or pay you the cost of repairing or replacing any lost or damaged item, pair or set. • Pay no more than the current cost as new or the market value at the time of the loss and not exceeding the value shown on your schedule or any updating endorsement. • For partial losses pay the cost of repair not exceeding the value shown on your schedule or any updating endorsement. • Where an insured item consists of a pair or a set we will pay, at our option, whichever is the lesser of: • the cost of repairing the damaged item to its condition immediately prior to the loss • the cost to replace it • the cost to make up the difference between the market value immediately before and after the loss. If the physical loss or damage relates to a specific part of a pair or set and we request you send the undamaged portion to us and we agree to accept, we will pay for the replacement of the pair or set with an item of equivalent quality not exceeding the individual sum insured or single article limit shown on your schedule (p7 of policy wording).

Stanhope Insurance

Stanhope Insurance, formed in 2019, is a subsidiary of Stanhope Cooper, which was established in 2005. With a strong track record in the private client household market, Stanhope launched itself into the standalone market. Stanhope currently have two available products for stand alone customers.

  • Accidental loss included: Yes, for both products
  • Accidental damage included: Yes, for both products
  • Policy excess: £0, for both products
  • Underwritten by: SCOR and Ant Insurance
  • Basis of settlement, SCOR: If Your claim has been agreed by Us, We will decide whether We will: a. have Your item repaired or restored, and by whom, b. replace Your item with one of comparable quality, c. offer You a cash settlement. The maximum we will pay will be the sum insured on Your schedule. In the event that We agree to a Cash settlement, the amount We will pay will not exceed the amount it would have cost Us to replace the item with one of equal quality (p14 of policy wording).
  • Basis of settlement, Ant Insurance: for items individually listed, the Underwriters will at the insured’s option repair, replace or pay for the lost or damaged article; (ii) for items not individually listed, the Underwriters will at their option repair, replace or pay for the lost or damaged article. In the event of loss or damage to any insured property which has an increased value because it forms par (p3 of policy wording).

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Written by Matthew Ashton

I started working in the insurance industry in 2004. Four years later, I left to focus on theological studies, working as a youth worker and then as a ministry director in Seattle, USA. When returning to the UK, I had an opportunity to work for the late Andrew Marchington. I joined his firm as a sales advisor when it had around ten staff members. Within three years, I was Head of Ops with a staff team of over 30 people. After a chance encounter in 2019 with Rachel Living and Will Cooper, I co-started Stanhope to build a high-value home, luxury watch, and jewellery broker synonymous with trust. I love being with Donna, my wife, and four kids when not working, cramming in the odd row, or running when I can. I am fortunate to love what I do and consider it a blessing to grow the Stanhope brand.

Matthew Ashton

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