Check your jewellery insurance – your valuables could be worth more than you think

With “cash for gold” style services now readily available and nationally advertised, jewellery has become an increasingly attractive target for thieves, so it’s imperative that you have adequate jewellery insurance in place to protect your precious gems.

With gold prices on the up, it’s advisable to check that your jewellery is correctly insured at current replacement costs – or run the risk of not being covered for the full amount.

James of Greenfield Insurance Services said: “It’s hard enough coping emotionally with the loss of jewellery – especially when it’s an item with sentimental value – you don’t then want to be faced with the news that your items have been undervalued, and are therefore underinsured.

“Fortunately, it’s easy to take steps to prevent this by arranging a simple re-valuation. This is a quick and easy exercise and could save you a lot of money in the long run.  You may find that some items which may have been below single article limits may now be well above them, and this needs to be reflected in the level of jewellery insurance you arrange.”

A re-valuation may also highlight any damage or other issues with the item that need attention and can also be covered by your jewellery insurance policy.

With jewellery insurance from Greenfield Insurance Services, we pay for theft or accidental loss or damage, regardless of whether this takes place in or outside the home. Greenfield Insurance Services provides cover on a new-for-old basis as standard, and the limit can be increased if needs be.

If you do suffer a loss or theft, valuation documents, including photographic evidence of your jewellery, can really help when making a claim on your jewellery insurance. It’s advisable to take photographs of your valuables positioned next to a scale ruler and keep receipts and valuations with the photos somewhere other than your home address. We can supply a free scale ruler and guide upon request.

With any increase in the value of your jewellery items, it may also be prudent to check the adequacy of your safe as it may now exceed the recommended cash rating and could therefore cause a problem in the event of a claim.

If you think you need to get your jewellery valued, read How to Get a Valuation of Jewellery to find out the next steps to take.

To find out more about how Greenfield Insurance Services can help with your jewellery insurance, call us on 01489 579808 or email us via our webform and we will call you back.