If you have just bought something special or are about to make a big investment, or if you have existing jewellery that you hold dear, have you taken any steps to keep it safe?
Here's a few straight forward tips you can follow to help look after your jewellery and ensure you enjoy it for a long time to come.
1. It's obvious, but make sure you have jewellery insurance in place. You can arrange this as part of your household policy or take out a separate policy.
2. Don't just assume that if you already have a contents policy that your jewellery is included. Depending on the value of your jewellery you may need to specify any individual items and get an all risks protection.
3. Take a few pictures of your jewellery, including sizes -help will help the insurers to find a a replacement or arrange to have the item recreated.
4. Make sure your valuation is less than 3 years old. If you've had your jewellery for a while and your last valuation is over 3 years old, there's a good chance you will not be insuring your jewellery at the correct amount.
5. Even if your jewellery was bought recently, with the cost of gold and precious metals having increased rapidly over the past few years it could be that your jewellery is not insured for the correct replacement cost. We suggest that you speak to your jeweler and see if they recommend a new valuation for your jewellery.
6. Check the small print of your policy wording. Some insurers insist that you have a valuation every 3 years.
7. Check whether your insurers impose any requirement for jewellery and watches. For example you may need to get the settings and claws checked for your diamond ring at regular intervals or the clasp on your watch. Also do you need to keep your jewellery in a safe place when you are not wearing them?
And should the disaster strike and your jewellery or watch gets damaged, lost or stolen, here's a few simple rules to follow to smooth the claims process.
1. Report any loss as soon as you can to the police. If you are abroad, report it to the local police and get a crime reference number. Also report it to the resort where you are staying.
2. If you arranged your insurance through a broker, call them first. They role is to help you and they will present your claim to the insurers and help the process of getting the claim paid out.
3. Give the insurer all the proof you have of ownership (pictures of your jewellery, receipts and the up to date valuations).
So make sure your jewellery is properly protected and hopefully you will get many years of enjoyment from your precious jewellery.
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