Jewellery and Watch Insurance
Premium cover without the premiums
Jewellery and Watch Insurance
We deal with more jewellery and watch claims than anything else. But we don’t offer jewellery and watch insurance. Huh?
We insure jewellery and watches within a high-value home and contents policy. You pay less, get better cover and can even make a claim if you don’t know when or how you lost an item. This approach is designed with customers in mind, prioritising their needs and providing tailored protection.
Our Approach to Jewellery and Watch Insurance
We don’t insure jewellery and watches in isolation. Instead we include them within a High-Value Home and Contents Insurance policy. Why? Because when you insure jewellery and watches as part of a High-Value Home and Contents Insurance policy, you pay less than you would pay for a standalone valuable items policy. But you also get incredibly generous cover limits, fewer restrictions and more claim flexibility.
“A high-value home and contents policy means fewer premiums and better cover. Simply get expensive items valued every two years to make sure the insured value is accurate.”
– Nicola Bromham, High Net Worth specialist
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Why Regular Watch Valuations Matter
High-end watches (like Rolex, Patek Philippe, Audemars Piguet, Tag Heuer or Omega) don’t just tell time; they often grow in value significantly over the years. A watch you bought for £15,000 in 2010 could now be worth £25,000 or more. For example, a detailed valuation might reveal that your watch’s current market value has increased well beyond your original estimate, ensuring you have adequate coverage in case of loss or theft.
Standard contents insurance typically won’t cover high-value watches adequately unless you’ve specifically listed them or hold a High Net Worth policy. Even then, valuations can become outdated if not regularly reviewed. Additionally, most insurers may require certain security precautions for valuable items, such as a high-quality burglar alarm and storing items in a certified safe.
The solution? Regular, detailed valuations and tailored insurance, along with up-to-date documentation and records, to make sure your prized timepieces are always properly protected.
Types of Jewellery Insurance Cover
When it comes to protecting your jewellery and watches, there are several types of insurance cover to consider. Specialist watch insurance and jewellery insurance policies can include accidental damage cover, theft cover, and accidental loss cover, ensuring your valuables are protected from life’s unexpected moments.
While some home insurance policies may offer a degree of cover, it’s important to check the single article limit to make sure your most valuable items are fully protected.
For those who travel, worldwide cover is often available, so you can wear your jewellery or watches abroad with confidence. By choosing the right insurance cover, you can enjoy peace of mind knowing your treasured possessions are protected, whether at home or on your travels.
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Insuring Jewellery and Watches in a High-Value Home and Contents Policy
A high-value home and contents policy covers your valuable possessions for unrestricted worldwide use and ‘mysterious disappearances’, meaning your items are protected anywhere in the world. Better cover than a stand-alone policy. It also often includes accidental loss cover, protecting against losing jewellery or watches.
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Unrestricted worldwide cover
Your jewellery and watches are protected anywhere in the world, whether at home or abroad. Coverage also applies while wearing your jewellery or watches, ensuring protection during everyday activities.
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Mysterious disappearance
You can even make a claim if you don’t know how or when an item was lost.
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Settlement options
Some insurers will provide cash settlements without any deductions.
Reduce Costs and Improve Cover With Our Jewellery and Watch Insurance
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Including jewellery and watches within a High-Value Home and Contents Insurance policy reduces costs and increases the overall cover.
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You have flexible options for paying your premium, such as monthly payments or paying annually. Paying annually can help you avoid interest charges, while pay monthly options offer convenience and flexibility.
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Unlike most home insurance providers, our insurers will let you choose who repairs or replaces a damaged or lost item, and your policy can cover the costs of repairing or replacing your valuables. This is vital if you have bespoke jewellery designed and made just for you.
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Expect matters to be resolved very quickly and with greater flexibility.
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If you’ve had items valued within the last three years, some High-Value Home Insurance policies will also cover unforeseen increases in value.
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A pairs and sets clause ensures that if an item that is part of a pair or set is damaged, the entire set can be replaced.
Our insurers will let you choose who repairs or replaces a lost or damaged item - vital if you have bespoke jewellery designed and made for you.
Safeguarding Your Jewellery
Keeping your jewellery safe starts with smart storage and good habits. Store your valuable items in a secure place, such as a home safe or lock box, rather than in obvious spots like a jewellery box. This helps protect your jewellery from theft and keeps it better protected.
Always keep appraisal documents and receipts in a safe location, as these will be essential if you ever need to make a claim on your insurance policy. When travelling abroad, make sure your jewellery insurance includes worldwide cover, so your items are protected wherever you go. Taking these steps ensures your jewellery is not only insured, but also well protected against loss, theft, or damage.
Importance of Insurance Documentation
Having the right insurance documentation is essential for protecting your jewellery and watches. A professional valuation ensures your items are insured for their full replacement value, so you’re not left out of pocket if you need to make a claim. Store your policy documents, receipts, and appraisal certificates in a secure place, such as a fireproof safe or a secure digital storage service.
Regularly reviewing your insurance policy helps ensure your cover keeps pace with the value of your jewellery and watches, giving you peace of mind that your precious items are always protected. With the right documentation, you’ll be prepared to make a claim and enjoy the reassurance that comes from knowing your valuables are fully insured.
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Expert insights
Expert insights
FAQs
What does jewellery and watch insurance cover?
Jewellery and watch insurance typically covers loss, theft, damage, and accidental loss of valuable pieces. At Macbeth, we tailor cover to your individual needs, ensuring your treasured items are fully protected.
Do I need specialist insurance for high-value jewellery and watches?
Yes, standard home insurance may not provide enough cover for high-value or unique items. A specialist jewellery and watch insurance policy ensures your valuables are insured for their full replacement value.
How do I work out the value of my jewellery and watches for insurance?
It’s best to have your jewellery and watches professionally valued on a regular basis. This ensures your insurance reflects the true replacement value, which is especially important for items that appreciate over time.
Does jewellery insurance cover items taken abroad?
Most specialist jewellery and watch insurance policies include worldwide cover, protecting your valuables at home and while travelling. At Macbeth, we can arrange cover to suit your lifestyle.
Can I insure a single valuable item, like an engagement ring or Rolex watch?
Yes, you don’t need a whole collection to take out cover. We can arrange insurance for single high-value items, such as engagement rings, wedding rings, or luxury watches (such as Rolex, Tag Heuer or Omega).
Will my jewellery and watches be replaced like-for-like if I make a claim?
With specialist cover, insurers aim to replace items on a like-for-like basis or provide a settlement reflecting their true value. Our in-house claims team will manage the process on your behalf.
Are there limits to how much jewellery I can insure?
There’s no strict upper limit. Macbeth works with a panel of high-net-worth insurers who can cover collections worth hundreds of thousands or even millions. The key is making sure valuations are up to date.
How often should I update my jewellery valuations for insurance?
It’s recommended to revalue your jewellery and watches every 2–3 years, or sooner if market values change significantly. This ensures you remain fully covered if you ever need to make a claim.
Does jewellery and watch insurance cover accidental damage?
Yes, accidental damage is usually included in specialist cover. This could be anything from a scratched watch face to a damaged setting on a ring.
Why should I use a Macbeths for jewellery and watch insurance?
As a Chartered Insurance Broker, we provide access to leading insurers and ensure your policy is tailored to your lifestyle. You’ll also have direct access to our expert team and in-house claims support, giving you peace of mind.
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