The Best Way to Insure Jewellery and Watches

insure jewellery and watches As insurance brokers, it’s our job to scour the market and find the best deals for our clients and most importantly recommend the best insurance for them.

We get many requests to insure individual items of jewellery or watches on a standalone basis however we always recommend insuring them as part of your household contents insurance rather than a standalone policy.

Here’s why it’s better to insure jewellery and watches as part of your home contents insurance rather than standalone.

We’ve compared a market leading standalone jewellery and watch insurance policy with our combined contents and jewellery/watch insurance policy.

Leading standalone jewellery policy	Our combined contents and jewellery policy

Loss or damage outside of your home is only covered unless the item is:· being worn by you (or under your close personal control) in a locked safe in a locked gym locker	Worldwide cover – no restrictions
Loss or damage outside of UK is not covered for trips over 60 consecutive days	Worldwide cover – no restrictions
Any unexplained disappearance of item is not covered	Worldwide cover – no restrictions
2^nd hand watches only the 2^nd hand value is specified	New for old cover
Claims settlement by insurers preferred network of jewellers	Insurers will allow you to use your existing jewellery or watch supplier or in agreed circumstances offer a cash settlement

Not only is the scope of cover wider under a combined jewellery/watch and contents policy but in our experience the premium is lower. A standalone premium can be up to 50% more than the additional premium that would be added to your contents policy to cover any specified jewellery or watches.

And remember that jewellery and watches can be added on at any point during the policy year, not just at renewal.

So if you’ve just bought or received a beautiful piece of jewellery or watch as a present, we would always recommend checking your current insurance cover first and upgrading that, rather than seeking out a separate policy.