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Jewellery Insurance

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Why Insure Your Jewellery? Here's 12 Reasons.

Q Report Team
Updated on March 19, 2024
5 min read

Some of your possessions are easy to replace. One television is much like the next; and you don’t get sentimental about TVs or phones or even cameras. But it’s different with jewellery.

Whether it’s the diamond engagement ring designed especially for you or your grandmother’s heirloom bracelet, jewellery carries memories and emotional weight. That’s why losing a piece of jewellery feels so tragic. In addition to losing something of value, you lose the memories associated with it: the memory of your partner proposing by candlelight or the remembrance of your grandmother wearing that bracelet at your wedding.

Fortunately, it’s possible to safeguard your precious jewellery, and the associated memories, from loss and harm. With Q Report jewellery insurance, you can always replace your treasures if the unexpected happens. Here are 12 reasons you should insure your jewellery.


1. If You Lose Your Jewellery, You Can Fully Replace It

What would happen if you lost your engagement ring? Would you be able to get an equivalent replacement?

Without insurance, you might struggle to purchase a new one. And even with home and contents insurance or travel insurance, the per-item limit would probably force you to settle for a less expensive alternative.

With Q Report jewellery insurance, you can rest assured that your piece of jewellery is fully covered. You can even return to your original jeweller for repairs or replacement.


2. You’ll Know the Value of Your Jewellery

Jewellery prices fluctuate depending on the current value of precious metals, gemstones, and other materials. And if it’s been a while since you purchased your piece, you may be unaware of how much it would cost to replace it.

When you insure your jewellery with Q Report, you’re jewellery will be revalued each year at no charge, so you’ll always know you have enough coverage.


3. You Can Take Your Ring on Your Honeymoon

Of course, you want to take your engagement ring on your honeymoon, but you might be nervous about the risk. Between security at the airport and swimming in the sea, it might seem that travel is too dangerous for your jewellery. With proper insurance, however, you can take your engagement ring with you, wherever in the world you travel.


4. Insurance Brings Peace of Mind

No one plans on a diamond popping out of its setting, but accidents do happen. Instead of worrying about unforeseen possibilities, you can enjoy your jewellery fully when it’s insured. You wouldn’t believe some of the stories we’ve heard. Read about our nightmares on claims street.


5. You Can Focus On What Matters

Life’s too short to spend it worrying about the safety of your possessions. You need to enjoy your family, your celebrations, and even the work that satisfies you. This is especially true for newlyweds. Instead of focusing your attention on protecting your jewellery, make life easier by allowing us to protect your jewellery.


6. Count on Personalised Service

Dealing with a loss is stressful, especially when you’ve lost an expensive item with sentimental value. We work through the claims process quickly and efficiently, so you can have your piece restored to you as soon as possible. And since you can return to your original jeweller, you’ll be comfortable in your familiar environment.

If you need to make a claim, you’ll work directly with us. You won’t be passed from department to department. We’ll guide you through every step of the process and be there for you when you need us.


Q report


7. You’ll Be Covered for Accidental Damage

Engagement rings and necklaces weren’t created to sit in drawers and safes. They’re meant to be worn. But when you wear a piece of jewellery every day, it’s more likely to incur damage due to accidents. Fortunately, our insurance covers accidental damage.


8. Specialised Jewellery Insurance is Easy to Obtain

Unlike some types of insurance, our jewellery policies are easy to obtain. If you purchased your jewellery through a Q Certified Jeweller, in most cases they can assist us in insuring your jewellery at the point of sale without you needing to provide any further documentation.

In all other cases, we’ll usually need copies of your receipt of purchase, photos of your jewellery, a valuation, diamond certification (if applicable), and proof of possession.


9. Coverage Begins Right Away

When you purchase jewellery insurance from a Q Certified Jeweller, your piece is covered from the moment you walk it out of the store. There’s no need to take any unnecessary risks. The peace of mind is invaluable.


10. Jewellery Insurance Protects Your Memories

Your treasured pieces of jewellery represent cherished memories. As time goes by, these items become further interlaced with life milestones, and they’re suffused with even more emotional significance. Jewellery insurance respects how priceless these memories can be with the promise that they can be replaced or restored, if necessary.


11. You’ll Have up to 125% Cover

As diamonds, gemstones, gold and platinum are traded in US Dollars, currency fluctuations can impact the replacement value of your jewellery. That’s why our Q Classic policy provides up to 125% cover. In the case of an approved claim for a full loss, we may recommend that an additional amount of up to 25% of the insured value could be applied to ensure that the item can be replaced.


12. You Love Your Jewellery

When it comes down to it, you should insure your jewellery because you love it and don’t want to lose it. With a Q Report policy backed by world leading insurers Chubb, you can be rest assured your jeweller is comprehensively covered against theft, damage or loss.

We love jewellery as you do, and we understand the sentimental value of your mother’s ring or your anniversary pendant. We have extensive experience in jewellery claims and have an impeccable track record. Don’t take our word for it. Read our reviews and testimonials and see for yourself.

And if you have any questions or want to learn more, get your free online quote or ring us at 1300 882 018.


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