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Jewellery Insurance

Whether you are a long-term jewellery collector or new to buying, you must remember to get regular valuations, especially as market rates for precious metals and stones fluctuate quickly.

Insurers recommend that you get a jewellery valuation at least every five years, preferably three in today’s market. But check your schedule and policy wording for specific requirements.

Insurers will require any valuation to be for “insurance purposes” and for retail value. You should also consider how you would replace your jewellery in the event of a loss. Would you want a brand-new replacement with a modern equivalent (New Replacement Value), second-hand replacement value (which can be more than the retail value if there’s a waiting list for a piece) or would you prefer an antique replacement (Antique Replacement Value)?

Ensure the items are photographed, kept in good condition and your documentation is in a safe place to help in the event of a claim. It’s a good idea to send a copy of your valuations to your broker, whether or not the insurer requires it.

Howden are specialists in finding jewellery insurance solutions, something you should never have to do on your own. We can point you in the direction of trusted valuation experts and then arrange a policy which will protect your passion and investment.

If you’d like to talk to us about insuring your jewellery, please contact Michael Hillier at [email protected]