A standard home insurance policy may include a number of exclusions – for example, not being able to include single items over a relatively low value, or not including cover for items when you are abroad on holiday.
With a specialist policy, all of these issues can be addressed specifically for you, so you get the right cover without spending more than you need to.
We have a wide panel of insurers who can provide this cover, which means we can usually secure very competitive quotes for your requirements.
At Ellis David, we offer high quality cover that includes:
- Worldwide, all-risks cover including ‘mysterious disappearance’
- Choice of settlement options in the event of a claim (repair, replace, refund)
- No restrictive conditions or warranties
- Award winning claims service
- Interest free direct debit facility available (subject to conditions)
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Cover for high value items
If you have a single high-value piece of jewellery or watch, we can arrange cover for it individually.
Unlike most home policies your pieces will be covered outside of your home.
We can tailor worldwide, European or UK only cover to reflect your precise needs, saving you money on cover you don’t need.
There is no need to list every item on your policy.
You only need to specifically tell us about items, pair or sets worth in excess of £15,000.
Extremely low rates for items you don’t wear
We tailor cover to reflect the true risk profile, so you get the best quality cover without paying more than you need to.
For example, if you have jewellery or watches that are stored in a safe or vault.
What is Jewellery and Watch Insurance?
Jewellery and Watch Insurance can be important where cover provided by a standard home policy isn’t adequate.
Many Home Insurance policies cover the loss or theft of personal items, including jewellery, as standard. But they have claim limits for individual items, as well as total claim limits. Typically, a single item claims limit will be somewhere in the region of £1000 – £2000. It’s worth bearing in mind that jewellery or watches, particularly items made with gold or incorporating diamonds, could actually be significantly more valuable now than when they were originally purchased.
In addition, many home insurance policies will not include cover for when the item is away from home. So if you lost your precious engagement ring while on holiday, for example, it may not be covered.
Who is Jewellery and Watch Insurance for?
Jewellery and Watch Insurance isn’t only for the dedicated collector.
If you fall into any of the following categories, it could be that jewellery insurance will be the most cost effective and convenient option for you:
- Own one or more items worth in excess of £2000
- Travel abroad (even if just on holiday) with your wedding ring, engagement ring, expensive timepiece or other valuable jewellery
- Own a collection of rings, watches, precious metals or gem stones amassed over the years.
Why do you need specialist insurance for some items?
Regular home contents insurance will only cover certain items and more expensive items will need to be specified. In addition to this, some items may require separate policies such as expensive jewellery and watches
In some cases, you may need to carry out valuations for specific items to verify the cost for that item
Why do you need items valued?
Ensuring that items are valued properly avoids disappointment when it comes to making a claim. Most insurance providers will require valuations to be updated every 2 years.
What types of things may not be covered?
Insurers may not provide cover for all eventualities. Some of the main things to be wary of are below:
Unforced Theft – If someone has not forcefully entered your home or was invited into your house then sometimes insurers may not payout
Wear and Tear – This is common with Jewellery, for example, using a rare stone from a ring due to age and general use
Our job as your broker is to explain these risks and the wording of your policy to ensure that you understand what is and what is not covered
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