Jewellery Insurance - Why You Need It

Jewellery Insurance - Why You Need It

The value of jewellery is often twofold: monetary and sentimental. Buying an engagement ring can set you back thousands of dollars – but it symbolises love and affection; and that is literally worth its weight in gold.

Imagining losing something of such value? Who hasn’t misplaced a ring or some other form of jewellery?

Whilst the sentimental value attached to an item can’t be recovered, its monetary value can – and that offers the opportunity to create new memories. Considering the increasingly large amount of money spent on jewellery every year, it’s no surprise that more people are looking to protect such assets.

Jewellery rarely loses its monetary value – precious gems and metals almost always become more valuable over time. So, how can you go about insuring your jewellery?

Did you know that your jewellery might already be covered? Typical home insurance policies offer a combined coverage for certain valuables. Unfortunately, this coverage is often incredibly limited.

It may appear on the surface that insuring something so valuable against theft and damage may come at a high price. After all, people are always losing jewellery or having small accidents that cause damage such as a stone falling out or the glass shattering on your prized watch. The costs to replace or repair the damage can be expensive.

Jewellery insurance is perhaps one of the most cost-effective policies that exist today. Typically, the premium for an item of jewellery is 1%-2% of its value per year. Yes, you read that right. That means that insuring a $6,000 ring would only cost $60 every 12 months – something that can be added onto the already existing home insurance policy.

Now how can you get your valued jewels and gems insured? It is rather simple and we are here to help. Step one; figure out which items you want to get insured – and, with how economical it is, you may as well do the lot. Step two; appraise the items by a gemologist. Step three; provide that appraisal to use to ensure we insure it to value.

This simple three-step process can save your heartache down the line. Invest in jewellery insurance today so that future you can be grateful for saving on the costs of unexpected repair or replacement.

To find out more about jewellery insurance and how we can help, contact us today at This email address is being protected from spambots. You need JavaScript enabled to view it. or simply call us at 905-696-9090.


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