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What is Jewellery & Watch Insurance?

We love jewellery and watch insurance and understand your watch, bracelet, pendant, earrings, engagement or eternity ring could be one of your most prized possessions. Our comprehensive range of jewellery insurance policies offers the peace of mind to wear your jewellery item when you want and where you want. Choose from a standalone bespoke policy or inclusion within our High Value Home Insurance policies. Our experienced team will provide the policy that best suits your needs.

Why do you need jewellery and watch insurance?

Many home insurance policies offer a single item coverage of up to £2,500 only – also known as a ‘specified limit’. This means you could not claim a piece of jewellery worth more than £2,500. You can often specify items above the prescribed limit, but there will always be a maximum amount on standard home insurance policies. This could typically be just £10,000, of what the insurer is willing to cover and not to mention, watch insurance premiums are on the rise too. If you have a particularly high-value item, a Rolex or Patek Phillipe watch or Cartier ring, it is more than likely you will need a specialist jewellery policy or will need to include your jewellery items within a High-Value Home Insurance policy.

Benefits of a jewellery-only policy with Stanhope

  • Worldwide Coverage is included as standard.
  • Cover available up to £10,000,000.
  • Cash or replacement option is available in the event of a claim.
  • No excess to pay in the event of a claim.
  • Accidental damage, theft, and loss are covered by standard.
  • Cover starts from as little as £9.33 a month.
  • In-house claims notification to your personal account manager

Do I need a jewellery valuation?

If you make a claim on an insurance policy for loss, damage or theft then you will be asked to provide a valuation or receipt. For a high value item of jewellery, it is best to have a valuation certificate. The price of diamonds and gold often fluctuates and so you don’t want to rely on your receipt in case your jewellery item has increased in value since you purchased it.

We recommend obtaining a professional valuation from a member of a professional guild or union. You can also get a valuation from a specialist or high street jeweller.

Do you have any tips on safeguarding jewellery items?

Knowing what to do if you lose, say, an engagement ring is important. The safest place to keep your jewellery is in a bank safe. However, if you want to wear and enjoy your jewellery then this is not always practical.

We would recommend having a safe that is anchored to the ground or wall. However, if you are uneasy about having a safe in your home, then you should find a sensible hiding place for your jewellery.

Are there any common exclusions on a stand-alone jewellery and watch insurance policy?

Stand-alone insurance policies attract, for the most part, much lower annual premiums than standard household insurance policies. Which, when combined with the high risk of accidental loss away from the home, attracts increased underwriting scrutiny. As a result, a stand-alone insurance will typically:

  • No cover for those aged under 21
  • Exclude items when an approved valuation cannot be submitted within 28 days of policy inception or at the point of claim.
  • Refuse to offer cover if there have been more than two jewellery claims within the previous five years.

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