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Diamond jewellery is beautiful, has great sentimental value and, for most people, its loss or severe damage would be a (not so) minor tragedy! It isn’t only the replacement cost for a lost diamond or entire ring. The emotional connections can make it challenging to handle the process of replacement or repair.
Imagine you would feel if your engagement ring was lost or stolen? What would you do if you lost a diamond from a treasured pendant necklace, or a diamond earring fell out, leaving you with just a single earring and no possibility, years after purchase, of finding the matching item?
Let us put this on the table at the outset of this article:
If you are a homeowner, then you probably have insurance that covers the contents of your home. Many of our jewellery clients think that this is all the coverage they need. Usually, they are wrong, but they do not find out this unfortunate fact until it is too late.
Household insurance is primarily designed to protect the items in your home and comes with significant limitations on the value of the items or where the coverage extends. For example, can you receive insurance coverage if your £2000 pair of earrings are lost while on holiday in the Maldives?
What would happen if your house was to be burglarised while you wereout and your engagement ring was stolen from your jewellery box on your dressing table? What if the thieves took the whole jewellery box and everything in it?
If you have household insurance, then before your new diamond jewellery is delivered to you, check your insurancepolicy. Make sure that you will have coverage that gives you peace of mind. If it does not, it may well not, then read on and find out how we at All Diamond can help you.
If you do not have household contents insurance, then you REALLY need to read on to find out about specialised jewellery insurance.
As the name suggests,jewellery insurance covers jewellery – that’s necklaces, rings, earrings, all the items we might think of as jewellery, but this cover usually includes watches; after all, these days, most watches are worn as jewellery.
A good specialist, jewellery insurance provider, will offer services aligned with the needs of jewellery owners. So, just as a good household insurer will have a network of plumbers, electricians and the like, a specialist suchas Assetsure will have built up a network of reliable, trustworthy jewellers across the United Kingdom who can repair or replace your jewellery on a like for like basis.
Look out for an insurer that handles claims in-house. Many general insurers work with a network of external advisors. In most cases, these people will not be specialists. The call before yours would have been to deal with a flooded washing machine, and the next call will be to check up on a car repair. Assetsure handles everything internally, so you will have access to the necessary expertise to sort out your claim fast and fairly.
Unlike most of our valuable possessions, our jewellery is purchased to be worn outside the house and in public places. You can reduce the cost of your insurance coverage no matter where you buy it, but we would always recommend choosing an All-Risks policy. This type of policy will include accidental damage, accidental loss, and theft coverage. You can use your jewellery wherever you go around the world. Assetsure provides coverage for up to 60 days on any single trip.
Best of all, there is no excess to pay for your claim. If your ring was lost and will cost £2,000 to replace, then that’s what Assetsure will pay out.
When you buy jewellery from us, we will provide you with a valuation certificate that will enable you to get adequate coverage and recompense if the worst should happen. It is worthwhile to get valuations updated every few years so that your coverage remains adequate as prices and values rise. Assetsure can put you in touch with a jeweller to provide you with updated valuations when the time comes.
Here’s the truth, nobody wants insurance. The idea of paying out more money after spending a small fortune on a beautiful diamond engagement ring seems unwelcome. But insurance coverage is something that we need – unless we are wealthy enough to pay to replace that engagement ring or diamond necklace if it should be stolen or damaged.
We recommend Assetsure for several reasons; here are a few:
- 1) You can arrange coverage, in most cases, instantly by email. This means you can have coverage in place from the moment you take delivery of your new diamond jewellery!
- 2) We like that in-house experts handle all claims because that tends to reduce stress at what is already a difficult time!
- 3) Assetsure has a network of jewellers ready to take care of your problems, whether it be a replacement or repair. You do not need to find and vet professionals.Assetsure will point you in the right direction saving time and stress.
- 4) No excess payments – ever. The price you pay for your specialist cover is for everything—no excess fees, no inspection charges, no administration fees – no surprises.
- 5) We know that Assetsure looks after our clients. That’s important to us.
First, buy the jewellery!
When you have done that, check out Assetsure’s jewellery insurance coverageright HERE: and get an instant quote for the coverage that you need. It might be that you need coverage for existing jewellery or just for your new purchase.
Take a moment to compare the coverage Assetsure offers with your current insurance. Perhaps look at other specialist insurers. If you want to know absolutely everything about your coverage, check out the Assetsure policy documents HERE :
Nobody wants to pay for insurance, but if something terrible happens to your new jewellery, then you will be glad of the peace of mind and the ability to repair or replace your treasured valuables. If something terrible happens, specialist jewellery insurance will seem like the best value purchase that you ever made!