JEWELLERY INSURANCE

A person is said to be rich if he/she has gold, platinum, and diamonds. But if he/she doesn’t have any insurance for his/her jewelry, then what’s the use of being rich? So, jewelry is important for both emotional and monetary reasons. Jewelry insurance will not only cover claims but will also keep jewelry safe in a bank locker and help you reduce your risk. It also covers theft, accidental loss, and damages.

If an individual wants to take up jewelry insurance, he/she also has the option to take it up with home insurance, which will include both home insurance and jewelry insurance. This insurance can also be taken up by temples to insure god/goddess models and their jewelry.

You must also know:

●     An individual must list all the different kinds of jewelry he/she wants to insure along with its value. Along with this, a certificate must also be provided, which is signed by a jeweler.

●     If the insured jewelry is lost, you can claim the loss by filing a form and submitting it to the insurance company.

●     Make sure that you take up All Risk Cover.

The insurance will not be claimed if there is a loss or damage of jewelry during any war, terrorist attack, or even riot. The insurance company will not cover burglary or theft if the home/building or any place is not occupied for a period of 30 days.

Jewelry is the vitamin of one’s fashion, so use it generously because about 29.78% of women lose their jewelry and about 27% of men lose their jewelry. So be careful and insure your precious jewelry.

Why Jewellery Insurance Matters:

The image above highlights the comprehensive protection offered by jewellery insurance, using a diamond ring as a representative example. Jewellery, especially high-value items like engagement rings or heirloom pieces, is not only financially significant but also emotionally valuable. This is why insuring them against unforeseen risks is crucial.

As shown in the image, a standard jewellery insurance policy typically covers:

●     Fire – Protection in case your jewellery is damaged or destroyed in a fire.

●     Accidental Damage – Coverage for any unintentional harm, such as dropping or chipping a stone.

●     Snatching – Reimbursement if your jewellery is forcefully taken from you.

●     Theft & Burglary – Security against loss due to break-ins or theft from your premises.

●     Riot & Malicious Damage – Compensation if your jewellery is damaged or lost during civil disturbances or intentional harm.

This kind of insurance provides peace of mind, ensuring that your cherished pieces are protected not just in your home, but also when you're out and about. Whether it's an investment piece or a sentimental treasure, jewellery insurance helps you safeguard what matters most.