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Jewellery insurance

A jewellery insurance policy can cover the cost of repairing or replacing high value items such as engagement rings, watches and family heirlooms.

These items could be covered by a standard home insurance policy. But if they exceed a certain amount, you might need to change your current policy or find a specialist jewellery insurance policy.

We don't compare jewellery insurance but we can help explain it. And if it's not for you, we can help you cover your items with a home insurance policy.

Matthew Harwood, Home & lifestyle insurance expert at Confused.com

Reviewed by Matthew Harwood Home & lifestyle insurance expert 5 min read | Published 17/10/2024

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Does my home insurance cover jewellery?

Yes. Your jewellery should be covered against loss, theft and damage by your home insurance policy.

This will usually cover items in the home, but check your policy to see if items are covered when you’re away from home - such as any watches or rings you wear while out and about. If not, you might consider personal possessions insurance, which will cover items usually to a certain value.

If you have a large collection of jewellery, or its value exceeds what your home insurer can cover - either in the home or away from home - then it may be worth considering specialist jewellery insurance.

According to a study by security company ADT, jewellery is the second most stolen item in home burglaries behind wallets and purses. So making sure you have the right insurance policy in place could be a good idea.

What is and isn't covered by specialist jewellery insurance?

Your valuables should be protected if they’re lost, stolen or accidentally damaged. It’s important to check the terms of your policy though.

You might have to pay extra to cover your jewellery away from home and accidental damage cover.

If you’re not wearing your jewellery, your insurance company might insist you keep it in a secure safe.

What's covered?

Rings
Necklaces and pendants
Bracelets
Earrings
Brooches
Watches

What's not covered?

Wear and tear
Scratches or dents
'Misplaced' jewellery that's been lost at home.
Burglary claims if you invited that person into your home or there are no signs of forced entry.

How do I value my jewellery for insurance?

The easiest way to get your item valued is to take it to a local jeweller or expert. Make sure you get a few valuations, as each person might have a different opinion.

It's extremely important to get an accurate valuation on a high value item in the event of a claim.

Depending on what type of item your Jewellery is, you could:

Ask your local jeweller to give you an up-to-date valuation
Look online or in store for the brand new value if it’s a new item
Find sold and for sale adverts online to get an idea of its second-hand price

What do I need for a specialist jewellery insurance quote?

Your insurer needs basic information about you, where you live, and information about the jewellery. This is likely to include:

Details of the item i.e. wedding ring or vintage brooch
The value of the items
The date you bought it
Where you bought it
The level of cover you need
Any extras like accidental damage

At the point of getting the policy it’s also worth taking photos of your jewellery and making copies of any receipts. This could be helpful if you need to make a claim.

Do I need separate engagement ring insurance?

If you have a jewellery insurance policy, this should cover your engagement ring. Be sure to provide an accurate valuation, so you’re fully covered.

For particularly expensive rings, you might consider a separate policy. Ultimately, the decision will come down to which provides the right level of cover at the best price. This is why it’s always a good idea to compare policies before you commit.

How do I cover my jewellery on a home insurance policy?

At the most basic level, you insure all of your contents as one lump. So you might insure all of your contents together for £50,000, for instance.

Insurance providers usually have a single-item limit in place, which is usually between £1,000 and £2,500. This is the maximum they’ll cover you for a single item, unless you specify it on your policy.

So for higher-value contents, you should consider listing them individually when applying for home insurance. If you get a quote with Confused.com, we ask you if you want to insure any items over £1,000 each.

We also ask:

What kind of item you want to insure - eg jewellery, wedding and engagement rings, works of art, expensive musical instruments etc
A brief description of the item
The item’s value to the nearest pound
Whether you want to include cover away from home

This might increase your home contents insurance costs, but it gives you peace of mind knowing that it's covered.

As an example, if you own a £5,000 watch - but don’t list it when applying for a policy - you’ll only receive the single-item limit if you need to make a claim. This might be £1,500, meaning you end up £3,500 short. It's important to double check the policy details before buying your insurance. So you can be sure it's right for your needs.

What our home insurance expert says

"To make sure your jewellery is properly covered by your home insurance, you should get it accurately valued first. Usually, if it's under £1,000 it's covered by your home insurance policy. But if it's valued over £1,000 you'll need to list it as a high value item. If it exceeds your insurer's single item limit, you'll need to get a specialist jewellery policy.

Having your jewellery valued by a professional means you can get the right amount of cover. If your jewellery is under-valued, you might find you won't be able to claim the full amount needed to repair or replace it."

Matthew Harwood Home & lifestyle insurance expert

Frequently asked questions

Am I covered to take my jewellery abroad?

Most home insurance policies won’t cover your jewellery while you’re overseas so it’s important to check before you fly. Specialist policies are more likely to offer this cover. You might also be covered by your travel insurance. In many cases it makes sense to leave valuable items at home.

Does insurance for jewellery cover a set or collection?

Whether your home insurance can cover a jewellery set or collection depends on its value. If your home insurer can’t cover it you should be able to arrange standalone insurance with a specialist jewellery insurance company.

How much does jewellery insurance cost?

The cost of your jewellery insurance depends on the level of cover you request and the value of the items you want to insure.

Your contents cover will provide some jewellery insurance. But factors such as where you live and the total value of your possessions influence the cost too.

However, your cover may cost more if you need high value items of jewellery insured separately.

What happens if I under-insure my jewellery?

If your jewellery is under-insured and you need to make a claim, the payout might not be enough to cover the replacement cost. This is why it’s important to make sure you have up to date valuations for any expensive jewellery you have.