How Horrible Would It Be if You Lost Your Favourite Jewellery and Couldn’t Claim Insurance?

It can be easy to get caught up in the exhilaration of purchasing or receiving your new piece of jewellery and not consider the less exciting parts, such as insurance. But it really does pay to insure those valuable items, and to ensure you do so immediately.

To help with insurance claims should the unthinkable occur, it pays to have photographs of your jewellery and documentation stored in a safe place. However, if you have lost your receipt or don’t have photos, we have very good product and customer records here at Showcase Jewellers Te Awamutu. Most of our stock is photographed and we can link it to the purchaser on our system. All jewellery and watch repairs are also documented and photographed. You can rely on us as a back-up to provide your insurance company with the proof they need that your jewellery is in fact, yours.

No insurance policy will cover you for wear and tear. This is why it’s important to bring in your rings once a year for a jewellery WOF, where we check the claws and setting to ensure the stones are secure and advise on any necessary repairs. By doing this, we can refute any claims by insurance companies of loss due to wear and tear. The replacement cost of a gemstone is normally covered by insurance under wear and tear, but repairs to settings are not.

Do I need to get my precious jewellery items valued? To make sure you are fully insured, you may need to have valuable jewellery listed separately on your contents insurance policy – and in order to do this, a valuation is usually required. Plus, if you ever need to claim, valuations provide proof of the item’s existence and value.

How do I get my jewellery valued? We can help with this. We use an independent, qualified Gemologist to value jewellery as they give an accurate valuation by testing the metal and stones, plus provide the documentation required by an insurance company.

Do you have any heirloom jewellery which may not have been valued? It is important to not forget about these treasured pieces.

While insurance can’t replace the sentimental value of a special jewellery piece, it does give you the next best option of repair or replacement. This peace of mind and the confidence to enjoy wearing your jewellery without worrying about damage or loss is well worth the minor cost.

If you would like to find out more about getting a valuation for insurance purposes, call in and have a chat to one of our team.