High Net Worth Insurance offerings are many and varied. We’ll talk you through the difference in the insurers, where and how to value your jewellery and high value items.
How to Choose Insurance For Your Jewellery & Valuables
Whilst some providers will reference a bespoke or a tailored service offering the reality is that the most significant differentiator is one of attitude. Some insurers are simply more naturally suspicious of their customers than others. What they all will need though is reassurance that the customer has methodically looked at the values at risk.
How to Value Jewellery and Possessions for Insurance
Easier said than done is the phrase that comes to mind when it comes to treasured possessions and ensuring that replacement values are accurate.
Even insurers who offer “unlimited” cover require the customer to put a total value on contents and valuable possessions. Most insurers will ask for more specific details about jewellery, watches, antiques or art if a single item (or pairs or sets) is worth more than £10,000. A few would stretch to £15,000.
Again, most will offer cover on an “All Risks” basis within the home and typically 60 days worldwide cover on a new for old basis.
Calculate the Value of Your Jewellery & Contents
Anthony Jones have compiled a home contents calculator for customers to address that easier said than done problem.
Some insurers will require expert independent valuations for high value items. Which brings us onto the next section.
How to Get an Independent Valuation
For those needing expert independent valuations there are a number of options available.
All would offer:
• a written valuation that acts as a legal document
• digital photographs
• distinguishing features
• a full written description of each item.
Some offer assistance that should help in the recovery of stolen items through unique hallmarks evidencing ownership and valuations. Others offer web facilities to allow insurers to view portfolios.
Where Can I Get Jewellery Independently Valued?
A couple of leading national valuers would be Safeguard and The Guild of Valuers and Jewellers though there are many local independent offerings available.
We understand our customers view possessions as not just valuable, but often with great personal and sentimental value, which is priceless. The team at Anthony Jones take great care in not only arranging the best covers, but in also providing risk management advice to give the best protection and ensure possessions stay out of harm’s way.