Jewellery Insurance | Saga Home Insurance

Do I need jewellery insurance?

It’s a good idea to have home insurance jewellery cover for items of significant value such as engagement and wedding rings, anniversary gifts, luxury watches and heirloom jewellery. Check the single-item limit when buying your contents insurance as anything above that amount will need to be listed separately.

How do I get a valuation for a piece of jewellery?

If you’ve recently been gifted a new piece of jewellery such as a Christmas or Valentine’s gift it should have a valuation certificate or if not you can request one from the retailer.

For vintage pieces such as brooches and legacy necklaces, it's worth having regular valuations as the price of gold, other fine metals and precious stones can fluctuate.

Can I get insurance for very valuable jewellery?

It depends on the insurer’s risk acceptance. Details of limits will be set out in your policy book. In practice, once you get past about £15k to £20k for a single item some providers will not be able to insure your jewellery under a standard home policy.

Can you claim for lost jewellery on home insurance?

Your home insurance may cover you for loss as well as theft subject to the limits and terms stated on your policy. You may think your valuables are safe at home but hands up who hasn’t pulled the vacuum cleaner apart in a desperate search for a missing earring or dropped a ring down the sink while washing up? For these kind of domestic mishaps it’s good to add accidental damage cover to your contents insurance.

You might want personal belongings cover too for when you’re out and about. Then you needn’t panic if you lose your ring or a gem works loose on your engagement ring.

How to keep your jewellery safe

It may sound obvious but unless you have a safe at home put it somewhere out of sight in an ordinary box. Keep a photo of your safe place on your phone. If you have a particularly valuable item, check your documents for specific storage requirements. A digital record of your jewellery items including photographs and copies of certificates can often help with the recovery of pieces if stolen. Avoid stuffing your treasures in old socks or anything else you might accidentally throw away when having a sort out. Most of all though, with the right cover in place you should be able to enjoy wearing your jewellery to the full. Time to rise and shine.

Does Saga cover jewellery

For a standard Saga home insurance policy, any item with an individual value exceeding £2,500 needs to be specified. Normal exclusions apply for wear and tear, faulty workmanship, misuse and mechanical failure as well as items held in student accommodation. Knowing the correct value of your jewellery will help you to ensure there’s enough cover in place.