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People tend to insure their most expensive possessions. But if you’ve never purchased jewellery insurance, you might have a lot of questions. 

 

You might be wondering what the claims process looks like, if we cover for lost and damaged items or if you need jewellery insurance at all. 

 

Let’s take a look at some of the most commonly asked queries about jewellery cover. 

 

1 - Do I need jewellery insurance?

If you have a valuable or sentimental piece of jewellery, it’s wise to insure it. Since items of jewellery are small, they tend to go missing. For example, we take off rings to wash our hands, apply lotion and swim at the beach. Some people tend to leave their jewellery at home because they’re worried about losing or damaging it.

 

We think it’s a shame to avoid wearing your favourite jewellery. Engagement rings, bracelets and earrings are made to be worn and enjoyed, and that’s why we cover them with the most comprehensive insurance you’ll find. 

 

2 - What does Q Report jewellery insurance cover?

Jewellery insurance coverage varies widely. If you’re using your travel insurance policy or your home and contents cover for your jewellery, you’ll find strict limits on values and even on where your piece is protected.

 

Our Q Report jewellery insurance policies cover the following:

 

Loss

Sadly, jewellery sometimes gets lost. It slides off your finger during a swim, or the clasp of your vintage necklace breaks while you’re out on the town. These things happen. But that doesn’t mean your jewellery can’t be replaced. Our policies protect your jewellery from loss and make it possible to return to your family jeweller for replacement.

 

Theft

Although theft occurs less often than loss, it does happen. Jewellery is perfect for thieves. It’s small but valuable, and the resale can be challenging to track. With jewellery insurance, you can restore your lost or damaged treasures.

 

Damage

We’ve seen it all. From weight-lifting accidents to running over a ring with the car. Fortunately, you can protect your jewellery from damage with Q Report insurance. Whether your diamond falls out of its setting or you step on your bracelet and snap it in half, we’ll make sure it’s restored to its original glory.

 

3 - Can I buy a blanket policy for my entire collection?

We recommend insuring your jewellery items individually for the best coverage. It’s possible to obtain collection-wide policies through your home-and-contents insurance, but these policies usually have low limits and won’t offer enough benefits to replace individual pieces fully.

 

With individualised policies, you’ll always have enough coverage to manage a claim. Since we offer free annual valuation, you’ll still know that you have enough coverage to replace or repair your jewellery.

 

4 - How often should jewellery be appraised?

Many factors come into play when determining an item’s value. Precious metal prices rise and fall according to current supply and demand. Diamonds and other gemstones change in value due to mining output, currency rate fluctuations and market trends. Specific designs may experience rising values because of style preferences or a rise in the designer’s popularity.

 

To make sure your jewellery is always adequately insured, we recommend annual appraisals. At Q Report, we revalue each item every year at no charge to you, so you know exactly how much your piece is worth.

 

5 - Should I buy extra insurance for my jewellery while I’m abroad?

No, there’s no need to purchase extra cover for your jewellery when you travel. No matter where you go in the world, your jewellery will be fully covered. If you experience a loss while abroad, contact us right away so we can assist you through the claim process. We have staff who can speak with officials where you are to get the ball rolling and replace your piece as soon as possible.

 

Bespoke Jewellery Insurance

 

6 - What’s the claim process like?

We make the claim process as simple as possible for our customers. Here’s the procedure.

 

1 - Get in touch with us

Before you do anything else, call us at 1300 882 018 or email us at claims@qreport.com.au. We’ll guide you through the next steps and get started as quickly as possible.

 

2 - Gather essential information

To process your claim promptly and efficiently, we may need additional information from you. In the case of loss or theft, we’ll need a statutory declaration and a police report. We’re always happy to walk you through the process of obtaining these items.

 

3 - Leave the rest to us

Once we have all the necessary information, you can sit back and relax, knowing we’ll take care of the rest. We’ll liaise with the underwriter and your jeweller, and we’ll keep you updated regarding every step in the process.

 

Complete restoration is your goal. We aim to put you back in the position you enjoyed before you experienced a loss.

 

7 - How long do I have to wait until my jewellery is fully insured?

When you’ve purchased an expensive piece of jewellery, you may feel a bit uneasy until you know it’s fully insured. That’s why we encourage customers to purchase their jewellery from Q Certified jewellers. When you buy from one of these fine jewellers, your piece can be fully insured from the moment you walk it out of the shop.

 

If you already own the piece of jewellery you want to insure, you can quickly attain full coverage by using our instant online quote. The process is easy and quick, so you’ll find peace of mind sooner rather than later.

 

8 - Can I insure vintage jewellery?

Jewellery insurance isn’t just for brand new jewellery. In fact, family heirloom jewellery needs cover at least as much as new purchase pieces.

 

If you’re the custodian of a family heirloom, you probably want to do everything in your power to keep it safe. After all, heirlooms were made to be passed down to the next generation. You can fulfil that promise by insuring your family jewellery and protecting it from the unexpected. All you have to do is fill out the online instant quote, and we’ll discuss your insurance needs to make sure the cover is just right.

 

9 - How much will it cost to insure my jewellery?

You can get a customised quote for your unique piece of jewellery by filling out our instant quote form. You’ll need the purchase amount of the item as well as your contact information. If you don’t know the purchase amount, or if the item is a family heirloom, make an estimate and then explain the situation to the jewellery expert who contacts you. We’ll then be able to guide you on the correct value to insure the piece at. 

 

We live and breathe jewellery. We’re passionate about helping you to protect your treasured pieces. Our policies are backed by a world-leading insurer of fine arts and valuables, and we look forward to working with you.

 

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Helpful resources

Diamond Setting Fact Sheet

The Complete Guide to Buying an Engagement Ring

Engagement Ring Shopping Checklist

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