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Q Insights

Jewellery insurance info, helpful guides, resources and industry-leading insights.


Jewellery Insurance

How To Solve Everyday Dilemmas With Jewellery Insurance

Welcome to our guide on navigating everyday jewellery dilemmas with the hel...

Is Watch & Jewellery Theft on the Rise in 2024?

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The Sentimental Value of Insuring Your Jewellery

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Insurance Information

Luxury Watches

The Essential Guide To Longines Watches

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Professional vs. DIY Watch Repairs: When to Seek Expert Help

Is your luxury watch not working quite the way it should? No need to panic.

10 Classic Watches Every Collector Should Own

Are you dreaming of building a classic watch collection? With so many iconi...

Jewellery Trends

The Enduring Appeal of Black Gemstone Jewellery

Black gemstone jewellery has an enigmatic allure that captivates the senses...

How To Create Stunning Looks With Pearls

Are you wondering "how do I style pearls?" Step into the world of timeless ...

Jewellery Trends in 2024: Big and Bold Statement Looks

What are the hottest jewellery trends for 2024? Step into the world of haut...


Keep up to date with the latest jewellery trends, insights and inspiration from Q Report.

Engagement Rings

20 of the Best Engagement Present Ideas

Planning a gift for an engaged couple can feel like a high-stakes treasure ...

How to Find the Perfect Australian Wedding Photographer

Picture this: the soft morning light filtering through the lace curtains as...


Live Your Life in Colour: Canary Diamond Engagement Rings

Do you know diamonds come in a wide range of colours?

Lab Grown vs Natural Diamonds (What's the Difference?)

When most people think of diamonds, they think of natural diamonds.

The Surprising Science Behind Diamond Cutting

A natural diamond is as rich in history as it is in beauty. From the moment...


Proposing at Home: Do’s and Don’ts

According to a 2019 survey of 20,000 newly-engaged couples, 21 percent of p...

Are Diamonds a Good Investment?

Most people don’t consider buying diamonds until it’s time to purchase an e...

Brisbane’s Top 10 Proposal Locations

Your heart’s all a-flutter and it’s hard to sit still. So you’ve decided to...

Helpful Resources

Featured Resource

The Complete Guide to Jewellery Insurance

Access the Guide
Featured Resource

The Ultimate Guide to Luxury Watches

Access the Guide
Featured Resource

Ring Size Guide & Sizer

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8 Jewellery Insurance Gotchas That Could Ruin Your Day

1. No insurance policy will cover you for wear and tear.

It’s up to you to ensure that, for example, the claws holding your diamond are not loose.

If you do make a claim with your insurance company, they will have it examined by a jeweller who may say that there’s proof of wear and tear. This will allow them to reject your claim.

Click here to read more about wear and tear.

2. Home insurance? You're not covered outside the home.

Your ring may be listed under your home insurance policy, but you’re not actually covered outside the home unless you specify it on a personal valuables add-on policy. So if something should happen to your ring while you’re out and about, chances are you're not going to be covered.

3. You might not be covered overseas.

Check the fine print - are you covered at all the second you step outside the country? Even investing in travel insurance might not be of any help if the per-item limit is $350 and your ring is worth more like $35,000 for example.

4. Insurance companies often don't allow you to return to your original jeweller, instead sending you to a jeweller they have selected.

Most insurers have special deals with their own jewellers, and could make you play by their rules. The sad part is the consumer is often scared to speak up - they don’t know their rights and just follow the insurer’s instructions. Let’s remember home insurance’s number one aim is to save money. The original jeweller will probably never see their customer again, as no one contacted them.

On the rare occasion when the original jeweller is asked to do a replacement quote, they either never get the claim or the settlement figure is dictated to them by the insurer at a ridiculous price. Clearly the home insurer’s preferred supplier has under-quoted because a) they are estimating on a much lower quality item than what was originally purchased, or b) they are expecting to sell the customer something else, so the settlement figure doesn't really matter, it’s just a retail spend.

5. You'll have to pay if you want revaluations.

A yearly revaluation can be costly, but it's vitally important... especially in the current volatile economy where the Aussie dollar is fluctuating. Unbeknownst to many, all diamonds are traded universally in US dollars; if you've been keeping an eye on exchange rates, you might already be aware of just how much prices can change from one year to the next.

If the insured value of your item is not adjusted accordingly, you might find yourself under-insured at the time of a claim.

6. Warranty only covers manufacturing defects - it's not the same thing as insurance.

Warranty is intended to cover consumers for manufacturing defects for a limited time. It’s a guarantee that a product has been made correctly and that you are getting what you paid for. Insurance will cover you for things like accidental damage, malicious damage, and loss and theft.

7. You have MINIMAL coverage with home insurance unless you make a note of your jewellery on your policy.

Unless you make a note of your jewellery on your policy, you have minimal coverage. So if, for example, you had a $20,000 diamond ring, you might get as little as $500 if it was stolen!

8. "Up To..."

Again, using the example of a $20,000 ring - your policy says you're insured up to $20,000. If they can actually replace it with a similar ring for $3000, they are legally correct to do so, as it's not an agreed value.

The Solution?

Apart from wear and tear (which absolutely no insurance will cover as we mentioned), Q Report Jewellery Insurance was specifically designed to address all of the above problems.

Try our Quote Calculator, give us a call on 1300 882 018 or Click Here to contact us via email.

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Engagement Ring Budget Calculator

What you need to save to meet your timeframe and budget is:

This has not taken cut, colour, clarity or carat, your financial situation or your partners taste into account. There are many factors that can reduce or increase the value of an engagement ring.

Not sure where to start?

Speak with one of our Q Certified Jewellers to find out what you can afford, what your partner is looking for and what will financially work best for you.

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