Jewellery Insurance

Se99paj

Does anyone have any recommendations or advice on jewellery insurance? 

I'm looking to purchase insurance for an engagement ring. I'm aware that this could be covered under home insurance as a listed item but I'd also like to consider an insurance provider specialising in jewellery.

Thanks in advance

aroominyork

TH March are specialist jewellery insurance brokers https://www.thmarch.co.uk/

Sandtree

Whats wrong with cover on your Home insurance?

Remember if you are keeping them at home then they still need to be declared on your home insurance even if insured elsewhere and most home insurers don't consider such scenarios and so you end up double paying (though can leave it off the PP cover on the home insurance)

Higher quality home insurance policies dont need anything listed thats under £10k in value or more so depending on how generous the engagement ring is it may not even need to be listed.

Se99paj

Sandtree said:

Whats wrong with cover on your Home insurance?

Remember if you are keeping them at home then they still need to be declared on your home insurance even if insured elsewhere and most home insurers don't consider such scenarios and so you end up double paying (though can leave it off the PP cover on the home insurance)

Higher quality home insurance policies dont need anything listed thats under £10k in value or more so depending on how generous the engagement ring is it may not even need to be listed.

Why do they still need to be declared on the home insurance if insured elsewhere?

Sandtree

Se99paj said:

Sandtree said:

Whats wrong with cover on your Home insurance?

Remember if you are keeping them at home then they still need to be declared on your home insurance even if insured elsewhere and most home insurers don't consider such scenarios and so you end up double paying (though can leave it off the PP cover on the home insurance)

Higher quality home insurance policies dont need anything listed thats under £10k in value or more so depending on how generous the engagement ring is it may not even need to be listed.

Why do they still need to be declared on the home insurance if insured elsewhere?

Because your home insurance requires you to declare the total value of your contents etc... if you are storing £100k of diamonds at home that increases the chances of your home being broken into and whilst the rocks may be covered elsewhere the damage to your property and anything else they swipe at the same time is covered by your home insurance. They need to rate that increased risk.

If you look at HNW policies etc they can rate appropriately for the increased risk without having to cover the items themselves. Its too leftfield for mass market providers hence you'll be paying twice

Se99paj

Sandtree said:

Se99paj said:

Sandtree said:

Whats wrong with cover on your Home insurance?

Remember if you are keeping them at home then they still need to be declared on your home insurance even if insured elsewhere and most home insurers don't consider such scenarios and so you end up double paying (though can leave it off the PP cover on the home insurance)

Higher quality home insurance policies dont need anything listed thats under £10k in value or more so depending on how generous the engagement ring is it may not even need to be listed.

Why do they still need to be declared on the home insurance if insured elsewhere?

Because your home insurance requires you to declare the total value of your contents etc... if you are storing £100k of diamonds at home that increases the chances of your home being broken into and whilst the rocks may be covered elsewhere the damage to your property and anything else they swipe at the same time is covered by your home insurance. They need to rate that increased risk.

If you look at HNW policies etc they can rate appropriately for the increased risk without having to cover the items themselves. Its too leftfield for mass market providers hence you'll be paying twice

I see your point, just to be clear though are you saying I need to declare the diamonds individually or that I need to include the value of the diamonds in my total value of contents? As I see these as two different things

Sandtree

Se99paj said:

Sandtree said:

Se99paj said:

Sandtree said:

Whats wrong with cover on your Home insurance?

Remember if you are keeping them at home then they still need to be declared on your home insurance even if insured elsewhere and most home insurers don't consider such scenarios and so you end up double paying (though can leave it off the PP cover on the home insurance)

Higher quality home insurance policies dont need anything listed thats under £10k in value or more so depending on how generous the engagement ring is it may not even need to be listed.

Why do they still need to be declared on the home insurance if insured elsewhere?

Because your home insurance requires you to declare the total value of your contents etc... if you are storing £100k of diamonds at home that increases the chances of your home being broken into and whilst the rocks may be covered elsewhere the damage to your property and anything else they swipe at the same time is covered by your home insurance. They need to rate that increased risk.

If you look at HNW policies etc they can rate appropriately for the increased risk without having to cover the items themselves. Its too leftfield for mass market providers hence you'll be paying twice

I see your point, just to be clear though are you saying I need to declare the diamonds individually or that I need to include the value of the diamonds in my total value of contents? As I see these as two different things

You need to answer the questions asked honestly, what exactly is required will vary by insurer. Many will want it included in the total sum insured plus any item over £X to be individually listed... depending on your insurer X could range between £750 to £15,000