High Value Jewellery Insurance

Zhanmusi

Hi All,


I'm looking for tips on alternatives to TH March for high value jewellery insurance.


Last year I bought my wife an expensive engagement ring (I had no choice). We bought it in my wife's country of origin; when we brought it back to the UK it was valued by the jeweller at double what I paid for it.


We aren't wealthy so the value of this ring is really ridiculous compared to the rest of our things (which is not much) and it's the only thing we have insured. We currently share a rented house with other people and live in London so don't have/need a car.


Last year I insured the ring with TH March and it was very expensive. I did a small amount of research but as I was preparing for the wedding I didn't have time to do much research.


Now the time has come to renew the insurance I'd like to try to get something lower so I've come to ask for alternatives.


These are our requirements:


1. The value of the single item exceeds £10k.
2. The insurance is not related to ownership of a home.
3. We share a house with non-family members.


To comply with point 3 we had to buy a small home safe to keep the ring in whenever it's not being worn.


Thanks to anyone who can point me towards alternative companies.

dacouch

TH March is about it

Zhanmusi

I thought that might be the case considering my searches last year didn't come up with anything else that seemed to have a reputation (Google came up with various other websites but they all looked like really small companies and I couldn't find information about them on forums and the like.)


Well, hopefully someone else might know better, otherwise I'll just have to suck it up for another year and hopefully I'll get a house within the next year or 2 and I can have the jewellery named on a more comprehensive house hold policy.


TH March don't seem to offer monthly payments for this item either; paying each month wouldn't be so bad (although it's still a big enough amount that I'd miss it) but paying a lump sum at the start of the year is painful.

dacouch

I'm assuming it's asian jewellery, have you looked in any community magazines for adverts of insurance schemes?

InsideInsurance

You really need to define "expensive" and are we talking single item, sets or....?

M&S provide cover for up to £12,000 on a single item without it having to be declared as part of their Premier Home Contents cover.

A couple go up to £15,000. If you are going over this then you'll either need specialist cover of which there are a couple but TK March lead the pack until you have a whole host of jewellery of this sort of value at which point the HNW insurers kick in with the likes of Hiscox

rs65

InsideInsurance wrote: »

You really need to define "expensive" and are we talking single item, sets or....?

M&S provide cover for up to £12,000 on a single item without it having to be declared as part of their Premier Home Contents cover.

It's a ring in a houseshare.

TH March is likely the only option.

Zhanmusi

Hi guys,


Thanks for replying. No, it's not 'Asian' jewellery so I don't know about community magazines; I assume they would be available in areas with large South Asian communities? I do live in such an area but have never seen any magazines around; they wouldn't necessarily be in English either I suppose?


I guess it's possible that there are specialist insurers catering to specific communities I could use; they can't discriminate on my ethnicity. I'll have a search to see if anything comes up.


The item is a single diamond engagement ring valued at £10.25k.


& yes, we live in a houseshare so cover for an entire home wouldn't be suitable for us, especially as we are not the owners of the property.


I should also correct my earlier point; I stated that TH March don't provide monthly payments but they do through 'Premium Credit'. Of course, you end up paying more so it's not a good choice if you can pay all at once.


Thanks again for all your replies and any further advice suggestions that anyone can give.

Zhanmusi

Alternatively, is it possible that there's any insurance that covers houseshares which I could possibly include the ring on, either as part of the normal cover or as a named item?


If anyone can even suggest some insurers that cover house share I can investigate on my own.


Thanks,

dacouch

Zhanmusi wrote: »

Alternatively, is it possible that there's any insurance that covers houseshares which I could possibly include the ring on, either as part of the normal cover or as a named item?


If anyone can even suggest some insurers that cover house share I can investigate on my own.


Thanks,

Finding contents cover for a flat share is difficult, even more so if you through in a high value item.

If you live in an area with a large Asian population try popping into your local broker (Avoid Swintons), they will normally be used to handling high value jewellery as it's traditional in many Asian cultures to buy high value jewellery.

agrinnall

Rgbargy wrote: »

Hi

We insure my partners engagement ring with **** Insurance. They specialise in high value home insurance but also offer a standalone policy that's independent to our contents cover. The ring is valued at £15k and they didn't require a safe. They even let us pay monthly.

Four posts, all pushing the same insurer, take your :spam: elsewhere.