Jewelery insurance: why and how to protect them?

At the time of the inauguration of the wedding season (beginning in April), we are about to approach months where the jewel is at the center of our concerns. Indeed, it is the ring – the alliance or that of engagement – ​​more particularly, which sanctifies, promises or validates a union. However, no one is immune to the loss or theft of these precious jewels. So how do you best protect them?

By Helene Kaufmant

Before going more into the subject, we would like to address all doubters and doubters: yes, insuring your jewelry is useful. Because fear does not avoid danger, hiding your most precious possessions under your mattress or behind your baseboards will not prevent the worst from happening. (loss, theft, etc.). Your jewelry has a sentimental history or great heritage value, so protecting it is essential.

Check the clauses of your home insurance contract!

Woman reading insurance contract
Credit: Pexels

Be aware that your home insurance, this compulsory contract for any tenant – or owner residing in a condominium – once again includes terms dedicated to the protection of your jewellery. But this does not cover all the dangers that may be encountered during the life of a jewel. It is therefore important to study the different paragraphs of your contract in order to know what is missing to meet your needs. For example, few contracts support rare or high-value jewelry. Indeed, they need insurance as unique as they are in your eyes!

Another thing to know: home insurance is without exception flat-rate. That is to say, they protect you and your property only within your home. (logical you will tell me). So understand that in case of loss or shoplifting, you will in most cases not be compensated (with some exceptions). This is why it is essential to check what the basic guarantees are. For example, a company like Lemonade will cover all jewelry that has a value of less than €5,000.

Finally, the last point concerning this chapter, each guarantee of your home insurance contract is limited to a certain amount. And it is very likely that it will not be enough to cover the total cost of your jewelry. If you get bored, you will either lose or pay a substantial amount of money.

For all these cases mentioned above, it is preferable to turn to home insurance offering you superior guarantees or allowing you to add an additional guarantee.

Take an inventory in insurance value

man gathering evidence insurance
Credit: Pexels

To protect your jewelery with a strong sentimental and/or heritage value, the first step, tedious and yet necessary, is that of gathering evidence. Both authenticity (to insure your jewel at its exact value) and ownership (so that your insurer is certain to compensate the right person).

Prove the authenticity of your property…

To prove the authenticity of a valuable object you will need to create a file with proof of what you are saying. The ideal being to collect the invoices of what you own. Those for which you have not been able to keep any trace, in the event of family heirlooms, gifts, loss, etc. The only solution is to go to an expert.

There are three kinds:

  1. Your jeweler
  2. An expert who will be advised by your insurance
  3. An independent expert you trust

Warning. It should be remembered, however, that no matter which expert you choose, the expertise resulting from your appointment will only be valid for five years. It will therefore be necessary to plan to renew it regularly.

… Then prove that you are indeed the owner!

Impossible to get reimbursed, or to replace an item that you did not legitimately own. What is needed, therefore, is to gather or create the proofs of this property in order to protect it. If you did not participate in the purchase of these jewels or if you do not have a copy of the invoice, the best thing to do is to create this proof yourself by photographing yourself (or having your photograph taken) with. If you can, take multiple shots. And this, even if you do not intend to take out any contract. Indeed, in the event of an incident, the photographs will have a dual role. They prove that you are the owner AND they promote the expertise of the property.

Warning. Insurance contracts can quickly become obscure and difficult to understand. The best is to turn to insurance with clear and simple terms and conditions like Lemonade.

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