High value jewellery and watch insurance

Jewellery and watch insurance specialists, Macbeth Premier Clients are based in Reading, Berkshire and provide a comprehensive insurance service for private clients with expensive jewellery and watches.

Insuring expensive jewellery and watches can prove difficult, particularly if you have a standard 'off the shelf' home insurance policy. The vast majority of such policies will only be suitable for modest values of jewllery and watches, such as up to £5,000 and the single article limits offered are typically very low. These types of insurance product offer value for money for the standard type risk but they are not designed for policyholders with expensive contents or jewellery. Premium's will often be excessive and the claim service will not provide you with the flexibility that you need following a loss.

So, how do you insure expensive jewellery and watches?

There are two options; firstly you could try to arrange a stand alone policy solely covering the valuable items or secondly, you could purchase a high net worth home insurance policy covering your buildings and/or contents and jewellery. The first option can prove dificult and expensive. Very few insurers offer such cover and the few that do often charge high premiums in return for the high risk. If you do manage to find an insurer that can provide this type of policy, make sure that you read the policy wording carefully to ensure that you are fully aware of the extent of cover and the terms & conditions of the policy. Some questions to ask include:

• Do you need to specify any item's on the policy schedule?
• Is cover automatically provided outside the UK? Is there a restriction relating to the number of days you are covered outside the UK?
• Does the policy have a personal custody clause?
• Do you need to ensure that the settings and clasps are checked periodically?
• Check the security requirements? Is a safe required?
• Does it cover mysterious disppearance?

At Macbeth Premier Clients, we strongly recommend that you consider the second option and investigate the possibility of arranging a high net worth home insurance policy. The benefits include:

• Competitive premiums
• The widest cover available in UK
• A specialist policy with top name insurers including Hiscox, Sterling, Oak Underwriting and Chubb
• The ability to insure all of your domestic insurance under a single portfolio policy
• All policies are free of obscure warranties and written in plain language
• 0% interest free direct debit available
• Flexibility in the event of a loss regarding settlement  

What happens in the event of a claim?

So, you’ve arranged quality insurance cover with an exceptional insurer but what happens in the event of a claim? Well, high net worth insurer’s will provide you with complete flexibility over how to settle your claim and you can expect matters to be resolved extremely quickly. In the event of you suffering a loss, most standard home insurance providers will push you into using one of their approved suppliers for the simple reason that they have negotiated large discounts. In comparison, high net worth insurer’s will allow you to use your own chosen company to repair or replace damaged or lost item’s which is vital if you have had bespoke jewellery designed and made. In some circumstances, insurers will also consider providing cash settlements without deduction.

At Macbeth, finding the right level of protection for you is only part of the services that we offer to our clients. Our dedicated and friendly team of high net worth experts provide an exceptional individual service that includes:

• A dedicated account manager
• An out of office telephone number for our Managing Director in case you need us
• A home visit where necessary
• A full, hassle free claim service designed to create minimal disruption
• A “paper free” transaction
• Advice on security

Macbeth Premier Clients have specialised in high value home insurance for over 15 years and have a wealth of experience. We will provide you with an exceptional level of personal service and a dedicated account manager will handle your policy from inception to renewal including a complete claim service so you can just relax and leave matters to us.

If you would like to discuss jewellery and watch insurance further, call a premier client account manager at Macbeth Insurance Brokers on 0118 945 2944 or email info@macbeths.co.uk