When planning a romantic proposal, insuring a valuable gift is not necessarily the first thing that springs to mind, so we are reminding people to make sure expensive jewelry is fully covered.
First, get your ring valued by a jeweler or appraiser, who should give you a valuation certificate.
Then check if it’s covered by your home and contents insurance policy.
Once you’ve got your insurance, take a photo of your ring, as this will help your insurer to process any claim more quickly.
Finally, if you lose your ring, inform your insurer immediately, and if it’s stolen, contact the police and get a crime reference number, as this is essential for a theft claim.
How to ensure valuable jewelry is fully protected against theft or loss
Have expensive jewelry items valued every two years
Tell your insurer about any items of particularly high value, and keep any valuation certificates or receipts in case you need to make a claim in the future
Take photographs of your valuable items as these can also help insurers to process your claim more easily
Don’t advertise jewelry to thieves – ideally, when not in use, keep it in a safe or lockable cabinet. 'Safe' places – such as under the bed or in your bedside drawers – tend to be the first places burglars look
If you are wearing precious items that have been passed down through generations, ensure you get an up-to-date valuation on these and take out additional ‘away from home' cover
Don’t dismiss jewelry you never wear. This should still be taken into account when estimating the value of your home contents
This is an incredibly busy time in your life. Do yourself a favor and go with an insurance company that the jewelry vendor recommends. The store may even be able to set it all up right then and there. This way, it’s done and taken care of and you won’t need to worry about it again for at least a year. You’ve spent a lot of time finding the perfect ring, take 10 minutes and make sure you have a good insurance policy for it in case something happens.
Provided by Whiteflash