Explore Q Report's Content Centre for expert advice on jewellery insurance. You can also read e-guides and blogs, watch videos and more.
Originally published in Modern Weddings, volume 18.
WHEN WE TALK about properly insuring your ring, we don’t mean as part of a home and contents insurance policy. Most couples mistakenly think that such a policy will completely cover their ring in the event of loss, damage or theft.
Did you know that when misfortunate strikes, the loopholes included in the very, very fine print of most major insurance company home and contents insurance policies could absolve them of replacing your ring, at the same price with your preferred jeweller? We’re spreading the word now, to avoid heartbreak later.
The main reason for this is that a home insurance policy is not interpreted as an agreed value policy. Even specified jewellery on a home policy often uses terms like ‘you are insured up to $20,000’ therefore the home insurer interprets this that as long as they can supply you with something similar the replacement cost is irrelevant. They’ll try to replace your ring at the lowest possible price, often through their preferred supplier. If they can create your $20,000 ring for $10,000 then that’s the ring you’re going to get. You can say goodbye to your trusted artisan jeweller who worked hard to create your original dream ring.
A ring is different to the fridge or television covered in a home insurance policy, it is a possession that is saturated in sentiment. This is why we like Q Report Jewellery Insurance. They understand the emotion that ties us to our jewellery and especially our wedding rings.
Q Report Jewellery Insurance offer an agreed value policy, which means if you have a ring insured for $20,000 then $20,000 is what they’ll pay, sometimes more. In the event of a loss you will be able to return to your preferred jeweller, and not a jeweller chosen by the insurance company, plus you’ll have worldwide cover so you don’t have to leave your crowning glory at home.
With a Q Report Jewellery Insurance policy you’ll have the confidence to put your hands up Oh, oh, oh…
To get an accurate insurance quote, please provide the amount from your purchase receipt.
Don't have the receipt?
If you don't have the receipt, you can provide the most recent valuation amount instead.
