Is Your Jewellery Collection Underinsured?

When an insurer asks you how much everything in your home is worth, it’s easy to underestimate the value, particularly if you own expensive watches and jewellery.

For wealthy households, the gap between the amount they’re insured for and the actual value of their possessions can be attributed to the rise in value of precious metals like gold and silver. Gold has increased in value by 150% in the past five years and 450% in the past decade. The value of silver has also risen sharply – and diamonds and pearls have both doubled in value since 2005.

As one of Macbeth’s insurance specialists, I see many cases of under-insurance. When I arrange valuations for my clients, I often find that their jewellery collections are worth a lot more than they thought. In one case, a client’s prized possessions were valued at 71% more than the figure they’d given to their insurer

The consequences of being under-insured can hit homeowners hard if they have to make a claim, underlining the importance of regular valuations to keep insurance policies up to date. In fact, accurate valuations are so important that some insurers will make a contribution towards the cost.

If you’d like me to review your contents insurance, please call 0118 9165 487 or email

Author: Carl Sharp | September 19, 2017

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