Valuables insurance - can anyone advise ?

Spivved1987

I have just purchased a ring for my wife, and its value exceeds our household cover. I will therefore need to either up our cover, or more likely take out a standalone policy. My question is this - the jeweller's certificate has an insurance value of roughly double what we paid, Obviously the higher the value we insure it for the higher the premium. If I insure for a lesser amount than is on the certificate (say cost + 50% rather than cost + 100%), will that have implications if I need to claim? Or is it impossible to do that anyway because the insurer will insist on seeing the certificate and only insure to the valuation on that certificate?

bingbong1978

Spivved1987 wrote: »

I have just purchased a ring for my wife, and its value exceeds our household cover. I will therefore need to either up our cover, or more likely take out a standalone policy. My question is this - the jeweller's certificate has an insurance value of roughly double what we paid, Obviously the higher the value we insure it for the higher the premium. If I insure for a lesser amount than is on the certificate (say cost + 50% rather than cost + 100%), will that have implications if I need to claim? Or is it impossible to do that anyway because the insurer will insist on seeing the certificate and only insure to the valuation on that certificate?

I think that you would need to specify it for the value on the insurance certificate. If the ring was lost or stolen the insurance co would have a post lost valuation carried out by a jewellery co to establish the value at the time of any claim. Better having slightly more cover than potentially not enough and premium wise, you should not be looking at much of a difference.