How to Insure Jewellery: Valuations, Cover and the Details That Matter

Jewellery insurance sits in a blind spot: people assume their home insurance covers the ring on their finger, and often discover the gaps only when making a claim. Whether you own one meaningful piece or a growing collection, understanding valuations and cover takes about an hour - and it is an hour well spent.

Start with a valuation, not a policy

You cannot insure what you cannot value. An insurance valuation is a formal document describing each piece in detail - metal, stones, weights, measurements, craftsmanship - and stating what it would cost to replace like with like. As the Jewellery Valuers Association explains, this is different from other valuations: the insurance figure reflects retail replacement, not resale or auction value. Use a qualified, independent valuer, and expect them to examine pieces in person rather than from photographs.

What your home policy probably says

Most home contents policies include some cover for valuables, but with limits that surprise people: a single-item cap that may be well below an engagement ring's value, and restrictions on cover outside the home. The AA and other insurers spell it out - items worth more than the single-article limit must be "specified" individually on the policy to be fully covered. Check three things in your documents: the single-item limit, whether accidental loss away from home is included, and whether you need to add personal possessions cover for pieces you wear daily.

Scheduled versus blanket cover

Two routes exist once the standard limits are not enough. Specifying (or "scheduling") individual items on your home policy lists each valuable with its own sum insured. A separate standalone jewellery policy - or a valuables add-on - covers a collection, often with broader terms: worldwide cover, accidental damage, and pair-and-set clauses that compensate when one earring of a pair is lost. For a handful of significant pieces, specifying is usually simplest; for a serious collection, specialist cover earns its keep.

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The paperwork that makes claims painless

Insurers move fastest when you can prove ownership and value. Keep the purchase receipt, the valuation document, any diamond or gemstone certificates, and clear photographs of each piece - including hallmarks and any unique identifying features. Store digital copies in the cloud, not in the same drawer as the jewellery. The National Association of Jewellers advises keeping valuations current, and that means updating them.

Revalue regularly

Metal and stone markets move, and a valuation from ten years ago can leave you underinsured - meaning a claim pays out less than replacement cost. UK trade guidance typically recommends revaluing every two to five years, or sooner after significant market movements or if a piece is altered. Many valuers offer an update service from their original notes at a reduced rate.

Wear, care and small print

Policies carry conditions worth reading: some require certain safes for pieces above a threshold, some exclude damage during certain activities, and most expect reasonable care. Simple habits - removing rings for the gym, checking settings annually, using the hotel safe - satisfy both the insurer and your own peace of mind.

Begin with pieces worth protecting with Shewah

Every Shewah piece arrives with certification for its lab-grown diamonds, giving your valuer a precise starting point. Explore Shewah's jewellery, or message us on WhatsApp at +91 96622 66360 if you need documentation details for your insurer.

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Sources

• Why do I need an insurance valuation of my jewellery? - The Jewellery Valuers Association
• Insuring jewellery, watches and silverware - a consumer guide - National Association of Jewellers
• Jewellery and valuables insurance - AA Insurance