Contents insurance for a diamond ring

smoggie84

Hi everyone,

I need to renew my contents insurance and would like to add a ~£4,500 diamond ring given my partner and I just got engaged.
All of the major results on Compare The Market and Go Compare do offer the specific listing of jewellery items in the home but limit the value to £1,000 or ~£1,500 per item outside of the home.
Bespoke jewellery insurers are also proving very expensive at around £100 per annum.

Can anyone recommend an insurer that has worked for them and covered such an amount out of the home?

paddyandstumpy

The limit applies to items not specified.

If you specify it then you're covered for the value it's spec at. Just make sure with the price of gold increasing, to keep the value up to date.

Also, as a side note, there have been 2 separate periods of about 3 weeks this year where one of the comparison sites hasn't been passing spec item details to insurers, so check your docs when you get them to make sure it's been added.

You'll normally pay 0.75% of the value of the item as an all risks rate for the item.

rs65

smoggie84 wrote: »

All of the major results on Compare The Market and Go Compare do offer the specific listing of jewellery items in the home but limit the value to £1,000 or ~£1,500 per item outside of the home.

Are you sure? When you specify personal possessions, it is usually UK wide (or wider). Are you listing a home contents item rather than a personal possession? Personal possessions is usually an option.

DigForVictory

Congratulations - may all your wedding planning run smoothly & you enjoy a long & happy marriage!

Just had a quick dekko and while pricier, Hiscox many be your answer as "We provide tailored cover for any jewellery, watches and gold you may own to make sure you get the right level of protection. Simply tell us how much cover you need in total and list any items, pairs or sets that are worth £15,000 or more."
So while comparing quotes, bear in mind this lot may be more expensive but so long as they're less than over £100 a year expensive, you're good?