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Diamond Jewellery and Engagement Ring Insurance

26 Jun 2019

Jewellery insurance

After purchasing any diamond rings and jewellery, it’s important that you have your items insured to cover any loss, theft or accidental damage.

All items purchased from Purely Diamonds come with a valuation document for insurance purposes, stating the full specification of the item as well as a recommended retail value for insuring your jewellery. As high value items, our diamond rings and jewellery should be insured for this value to make sure you are fully covered should you need to claim.

Whilst you may be able to add your items to your existing home and contents insurance, there are often stipulations which prevent thorough cover by your provider. If this is the case, we recommend jewellery insurance broker TH March.

Things to look for when buying jewellery insurance.

There are numerous questions you need to ask yourself - and your insurance provider, when buying jewellery and engagement ring insurance to ensure you get the best deal and best protection in the event you need to make a claim for theft or accidental loss.

  • Is your jewellery only covered at home?
    Some home and contents insurance only permit your jewellery to be covered when stored or worn at home. This is not practical if you wish you wear your jewellery everyday so make sure you check this.
  • Is there an excess fee in the event of a claim?
    In the unfortunate event you have to claim against loss, theft or accident of your item(s) some insurance companies charge an additional excess fee to process your claim – this is additional to the premium you have already paid for your insurance.
  • Are there limits to the total value of individual items on your policy?
    Do make sure you check if items you list on your insurance policy are limited by a total value amount. For example, whilst your policy may cover you for up to £50,000 in total, it may stipulate the total value per item - meaning you may not be covered in full if you have to claim.
  • Are you only covered against theft?
    We understand that accidents happen and you can lose things without intent, so it’s best to make sure your chosen policy covers accidental loss and damage as well as theft to be on the safe side.
  • Does your insurer have a preferred list of jewellers in the event of a claim?
    There are many insurance companies, that in the event of a claim state you must find a replacement for your lost or stolen jewellery from their preferred lists of jewellers. This may see you find a replacement that is of inferior quality than your Purely Diamonds jewellery.
  • Is your cover with a generic insurance provider?
    As diamond jewellery is a unique industry, it is suggested you find a specialist insurance provider that understands the product in the event of a claim.

If the answer to any of the above questions is YES, then we would recommend you contact TH March for a unique quote to your insurance needs.

Why TH March?

  • TH March has been providing jewellery insurance to the jewellery industry and their customers since 1887!
  • 98.9% of their customers would recommend their services.
  • Each item is covered on a unique policy for its full insurance value and you can come back to Purely Diamonds in order to replace your jewellery in the event it is lost or stolen.
  • Getting a quote is easy, either visit their website or give them a call and you will get a no obligation quote for insuring your jewellery.
  • No excess fees on your claim.

What next?

Visit the TH March website at www.thmarch.co.uk and begin your free quotation, when prompted make sure you enter our jeweller referral code: AJ223T as this will inform them you have purchased from a genuine source.

Your diamond rings and jewellery are to be loved and enjoyed, so having the right insurance cover will guarantee you can wear them without fear. If you have any additional questions about jewellery cover or diamond ring insurance, contact our sales team and we will be happy to address any of your concerns.

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