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Is it better to insure jewellery seperately or should I get a contents policy for it? Watch

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    So yesterday I got engaged and as our contents insurance runs out next month I figured I d see if I could get my ring added to a policy? But was wondering if anyone knew if it's better value to get it done seperately? (My rings worth around £150 at full price)
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    Well the contents policy should cover it but you should look at the single value items section, which will indicate what the most is it will pay per item. I would imagine your ring would easily be covered and probably is already. You need to read the policy or check wiith the insurer.

    You should also look at the excess of the policy, being the amount you have to pay yourself before they pay anything i.e first £50.

    You cna get separate jewellry cover, but you will need to get a quote, Hiscox do it, but I imagine most insurers will. There may be no excess.

    The other option is whether you really need insurance, but get a quote and see. A separate policy might also include things like repair rather than just theft. It should cost very little but I dont know the rates.

    ps the quotes will make it obvious and up to you to determine which is cost effective.
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    (Original post by 999tigger)
    Well the contents policy should cover it but you should look at the single value items section, which will indicate what the most is it will pay per item. I would imagine your ring would easily be covered and probably is already. You need to read the policy or check wiith the insurer.

    You should also look at the excess of the policy, being the amount you have to pay yourself before they pay anything i.e first £50.

    You cna get separate jewellry cover, but you will need to get a quote, Hiscox do it, but I imagine most insurers will. There may be no excess.

    The other option is whether you really need insurance, but get a quote and see. A separate policy might also include things like repair rather than just theft. It should cost very little but I dont know the rates.

    ps the quotes will make it obvious and up to you to determine which is cost effective.
    Thank you for your help I don't think I d bother if it had a high excess, I intend on looking after it as best as possible but if I lose a diamond it's probably more cost effective to replace it in most cases. I ll have a look for some quotes for both now.
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    (Original post by claireestelle)
    Thank you for your help I don't think I d bother if it had a high excess, I intend on looking after it as best as possible but if I lose a diamond it's probably more cost effective to replace it in most cases. I ll have a look for some quotes for both now.
    I think its sentimental value and thats irreplaceable really. You migght wnat to make a note of where it was bought from just in case you ever need or wnat to buy a replacement.

    I think the specific policies are more for rings in their thousands. I bet they still charge a min policy price, so expect a quote to provide way more cover than you would need. Hewellry cover isnt one of my areas and I cnat tell until I see the quotes or read the policy. You are bright enough to know and see when you get a few quotes. I'd think it wouldnt be cost effective if it was any more that £5-10.

    If you eventually get a household policy then am sure it will be covered by that under general valuables. Iy migt also eb an idea to take some photos of it, so in the event of loss you dont have to describe or if you take it to a jeweller they cna see straight away.
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    (Original post by claireestelle)
    So yesterday I got engaged and as our contents insurance runs out next month I figured I d see if I could get my ring added to a policy? But was wondering if anyone knew if it's better value to get it done seperately? (My rings worth around £150 at full price)
    You can nominate separate or specific items on contents insurance. I wouldn't have thought a £150 ring will have that much impact.
    Congratulations BTW!
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    (Original post by 999tigger)
    I think its sentimental value and thats irreplaceable really. You migght wnat to make a note of where it was bought from just in case you ever need or wnat to buy a replacement.

    I think the specific policies are more for rings in their thousands. I bet they still charge a min policy price, so expect a quote to provide way more cover than you would need. Hewellry cover isnt one of my areas and I cnat tell until I see the quotes or read the policy. You are bright enough to know and see when you get a few quotes. I'd think it wouldnt be cost effective if it was any more that £5-10.

    If you eventually get a household policy then am sure it will be covered by that under general valuables. Iy migt also eb an idea to take some photos of it, so in the event of loss you dont have to describe or if you take it to a jeweller they cna see straight away.
    Sorry only just seen this, notifications are broke My fiancees kept the receipt so i've full details incase i did have to make a claim but it's definitely more about sentimental value to me. I've only got a couple of quotes so far, but it seems like specific engagement ring insurance would be very bad value for money, so shall look into whether its covered in the household policy i want to take out instead.
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    (Original post by ByEeek)
    You can nominate separate or specific items on contents insurance. I wouldn't have thought a £150 ring will have that much impact.
    Congratulations BTW!
    Thank you, i shall look into having it as a specific value item
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    Contents insurance should already cover it. Individual items really arent worth insuring individualy unless they're high worth.
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    (Original post by claireestelle)
    So yesterday I got engaged and as our contents insurance runs out next month I figured I d see if I could get my ring added to a policy? But was wondering if anyone knew if it's better value to get it done seperately? (My rings worth around £150 at full price)
    just add it to contents the same as I tell my clients
    it only worth insuring separately when a piece is worth more than a £1,000
    so my Breitling is on the household insurance but my bracelet and the Rolexes are on separate policies
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    (Original post by jamesthehustler)
    just add it to contents the same as I tell my clients
    it only worth insuring separately when a piece is worth more than a £1,000
    so my Breitling is on the household insurance but my bracelet and the Rolexes are on separate policies
    You need multiple Rolexes? I mean, there are 2 PS3s in my flat but one's my girlfriends'
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    (Original post by Drunk Punx)
    You need multiple Rolexes? I mean, there are 2 PS3s in my flat but one's my girlfriends'
    He's a self styled high end jewellery dealer.


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    (Original post by jamesthehustler)
    just add it to contents the same as I tell my clients
    it only worth insuring separately when a piece is worth more than a £1,000
    so my Breitling is on the household insurance but my bracelet and the Rolexes are on separate policies
    Yeah my rings definetly not worth 1k
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    (Original post by claireestelle)
    So yesterday I got engaged and as our contents insurance runs out next month I figured I d see if I could get my ring added to a policy? But was wondering if anyone knew if it's better value to get it done seperately? (My rings worth around £150 at full price)
    woo conrgats on getting engaged
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    (Original post by fefssdf)
    woo conrgats on getting engaged
    Thank you
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    (Original post by Drunk Punx)
    You need multiple Rolexes? I mean, there are 2 PS3s in my flat but one's my girlfriends'
    I have 2 and only plan to keeping one long term
    as well as buying 4 others
    a Patek Philippe, an Audemars Piguet, a tag heuer, a Breitling, a jaeger LeCoultre, a Chanel, a Bvlgari, 3 cartiers and a Hublot
 
 
 
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