Specific item insurance

sparky476

hi
i am trying to get a specific item insurance for a diamond ring thats valued at over £15000 its a family heir loom, my current insurer (churchill ) seem to be the only ones that will insure me with my buildings and contents cover(£700 a year) are there any companies that will cover me as a single item only so i could get cheaper house insurance. help need to save some money
cheers

philgee

Hi, is the ring ever worn? If not, or very rarely, it might be worth investigating storing it in a deposit box in the vault of your bank.

I have no idea what this would cost, but I would have thought it would be more than offset by the reduction in your insurance premium.

Worth a call to Churchill & your bank?

lisyloo

We bought a safe from Screwfix and it's bolted to our house in a hidden location.
Cost was pretty low.

I know it won't stop an armed gunman but it would stop the vast majority of opportunist theft where they spend about 2 minutes in the house.

The item is probably irreplaceable so personally I would also consider security options rather than insurance.