Items of jewellery can often be covered under a standard contents house insurance
policy. However, pay attention to limits placed by the insurance company, as you
may have to list high value items separately. This can typically be for items worth
over £750, £1,000 or £1,500 depending on the individual insurer. There is also likely
to be a limit to the amount of jewellery and other high-risk items that you may insure
under most standard insurance policies.
Therefore, in some cases it may be appropriate to insure your jewellery under a stand-alone
policy. TH March are one of the few UK insurers who will insure jewellery separately
for one or more items. Their website can be found at www.thmarch.co.uk. To obtain
a jewellery insurance quote please click on ‘Personal Jewellery Insurance’ and then
choose the option to obtain a quick quote or buy online. Please enter the Jeweller
Recommendation Reference Number of AG168T.
TH March can also give complete home contents cover quotes and quotes for joint buildings
and contents cover. They are particularly competitive where there is a high value
of jewellery to be covered under the policy. Choose the ‘Personal Policies’ option
on their homepage, where you will find the relevant contact details. Please mention
our Jeweller Recommendation Reference Number of AG168T.
It is important to understand that precious metal prices have increased dramatically
over recent years. Therefore, it is imperative that the values covered by your insurance
reflect current rather than historic prices. Trends in metal prices can be seen
in graphical format on www.cooksongold.com. Select ‘Metal Prices’ and then click
on the particular metal in order to view a graph of price movements. This will give
you an idea of percentage movements in prices since purchasing your jewellery, although
take care as the overall prices per gram quoted will NOT reflect jewellery shop prices.
If in doubt as to the value of your jewellery items, get a local jeweller to value
your valuable pieces. However, most will charge for their services with typical
prices ranging between 1% and 2% of the overall value of the pieces valued.