High Value Contents Insurance
Whether it’s the watch you wear every day or the family heirloom that is kept in a safe, jewellery insurance and valuables insurance from HomeProtect provides excellent levels of cover in the event of theft, loss or accidental damage from your main residence.
When you add jewellery and valuables to your contents insurance, it’s important to take the time to make sure that they are properly valued and not underinsured. After all, there is little we can do to mend priceless items of sentimental value, but we can at least offer financial compensation to allow you to fix or replace them.
Specify valuables and personal possessions at your main residence
HomeProtect policy terms specify single item insurance at £1,500. This is the maximum amount that a single item will be covered for if you make a claim. Any items worth more than that must be specified individually in your policy to be covered up to its replacement value.
Engagement ring insurance and watch insurance
Common examples of high value belongings include engagement rings and wristwatches. Make sure you specify the ring on your insurance policy as soon as you buy it to avoid any losses. You might also consider opting to include worldwide insurance cover for valuables if they are taken outside the home, on holidays and business trips for instance.
Worldwide valuables insurance
When you buy a HomeProtect insurance policy you will be able to opt to include a total value of all items you carry with you when travelling overseas. This will cover you in the event of theft or accidental damage to these items whilst you’re abroad.
Valuables Insurance Key Points
It is your responsibility to inform your insurer of specific items and their value to ensure that you are properly insured and will not be left out of pocket in the event of a claim. Make sure that you:
- Keep the receipts as proof of the purchase price.
- Have valuations updated regularly and store the certificates in a safe place. It is recommended that jewellery is valued every 2 years by an accredited jeweller.
- Keep a record of your valuables, perhaps a logbook with photographs, as these details can help insurers to process a claim more easily.
- Store your valuables and jewellery in a safe at home. Never leave valuables on display where they can be seen by opportunist burglars.
When making a claim, bear in mind that you’ll be liable to pay any excess already stipulated under the policy terms. This could be more than the cost of replacing the jewellery or other valuable yourself. This may also be preferable to having a claim on your home insurance history, as this can make it difficult to find affordable cover in later years.