Insurance For High-Value Jewellery: How To Access? Jewellery insurance is ideal if you keep pieces in your home with high economic and sentimental value. This way, you will protect them against possible unforeseen events, from theft to fire, going through other situations that involve their loss or deterioration. Insurance For High-Value Jewellery: How To Access? If you do not have a policy that protects your gold rings, those pearl necklaces that you like to wear so much and the rest of your jewellery collection, you will not have compensation in case you run out of them. With home insurance, you will only be compensated with 10% of the insured value for content in objects of particular importance.
What Jewels Can Be Insured?
For an insurance company, jewellery is those creations made of gold, silver, platinum and bronze, among other metals, which can be endowed with precious stones and pearls. Of course: there are different criteria by which each entity is guided when establishing this definition, so, conveniently, you consult yours beforehand.
It is also up to the insurers to set the monetary amount that each of your jewellery possessions must exceed to be considered a jewellery object covered by this policy. This amount usually ranges between 1,800 and 10,000 euros.
How Is The Value Of Each Piece Of Jewellery Established?
As you can already guess, insurance companies do not quantify the sentimental value that a particular part of the ones you store in your jewellery box may have for you. Insurance For High-Value Jewellery: How To Access? For them, this aspect will lack a measurable value and, therefore, will not be covered.
The most appropriate way to establish the value of each piece, especially the most expensive ones, is to resort to an expert who carries out a certification. Insurance For High-Value Jewellery: How To Access? However, another faster option is to agree with the insurer on an estimated value.
How Can I Insure My Jewellery?
When insuring your jewellery, you should pay attention to your comprehensive home insurance and read the policy carefully. Insurance For High-Value Jewellery: How To Access? In this way, you will have the opportunity to discover if it covers objects of high value, such as paintings, sculptures and jewellery creations such as those you are interested in protecting.
Some contemplate a series of optional guarantees. You can request, for example, an extension of jewels that covers a percentage of the amount of these. Home insurance usually covers approximately 10% of the total insured content in objects of unique value. If you have many pieces, you can secure them separately; This way, you will ensure that they are covered if a disaster occurs in your home or even if a catastrophic area is declared.
You can always take out specific insurance for your jewellery and other valuables that you keep in your home, such as art collections. In this type of policy, it is possible to state the actual value of the piece without any limit. In this way, you will get the protection you want, although, as a consequence, the cost of the premium will be higher.
As you have seen, you must find out about the jewellery insurance that best suits your needs. This will prevent you from being surprised in the future.
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