KEY POINTS:
- Contents insurance policies usually provide general cover for the loss or theft of jewellery.
- However, there will be general limits in place, usually a maximum total amount claimable, and a cover limit per item.
- For comprehensive cover for expensive items or sets of jewellery, you will need to arrange individual cover with your insurer at an extra cost.
Does home and contents insurance cover my jewellery?
Most home and contents insurance policies will provide some level of cover for your jewellery. However, there are often limits to the amount of coverage for high-value items like jewellery.
If you want to increase the limit, ask your insurer to specify your jewellery on your policy schedule, but expect to pay a higher premium for this.
How do I prove what my jewellery is worth?
Some insurance policies require you to provide valuations or appraisals for high-value jewellery items to ensure proper coverage. Make sure you have documentation supporting the value of your jewellery.
You stand a better chance of a successful claim if the item has been specified – and you can back up the amount with an independent valuation.
Jewellery valuation services typically range between $45 – $130.
How often should my jewellery be appraised?
The value of jewellery listed in older appraisals tends to become less accurate over time, often falling short of the appropriate level of cover. Typically, insurance companies and appraisers advise updating jewellery valuations every two to three years to ensure adequate coverage.
What situations am I covered for?
Canstar’s Home & Contents Insurer of the Year, Tower, offers three levels of contents insurance for the theft or loss of jewellery:
| Premium Cover | Plus Cover | Standard Cover | |
| Jewellery: per item | Up to $10,000 | Up to $2,500 | Up to $1,000 |
| Jewellery: total | Up to $30,000 | Up to $15,000 | Up to $5,000 |
Across all three policies you’re able to request coverage for single items and jewellery sets above the standard policy limits. Although you’ll pay an additional premium.
Any items insured separately outside the general cover of your policy will be recorded clearly on your certificate of insurance, which will be provided by your insurer when you purchase your policy.
What should my policy include?
Take the time to check your insurance policy and ask yourself the following questions:
- Do you have enough cover under your insurance policy to replace your jewellery if it’s lost or stolen?
- Has your jewellery had a recent valuation? Has a jeweller checked that no gemstones are loose?
- Do you have some way of proving you own the jewellery (e.g. a receipt)?
- Are you required to keep jewellery in a safe when you’re not wearing it?
- Have you individually specified valuable items of jewellery on your policy?
- Have you had a New Zealand valuation for any items purchased overseas or gifted to you?
- What situations aren’t covered by your policy? How can you safeguard your jewellery in those circumstances?
How to make a claim
Here’s how to make sure a claim is successful:
- Ensure the item is specified on your insurance schedule
- Have the item(s) valued by a qualified jewellery appraiser
- Send a copy of the valuation to your insurer
- Have your jewellery appraised regularly
- Take regular photographs of the item(s)
- Keep purchase receipts
- Ensure you comply with any special requirements stated in your policy
- Dispute the settlement if you’re unhappy with the amount you’re offered
Compare home and contents insurance with Canstar
About the author of this page
This report was written by Canstar Content Producer, Caitlin Bingham. Caitlin is an experienced writer whose passion for creativity led her to study communication and journalism. She began her career freelancing as a content writer, before joining the Canstar team.
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