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Q Insights

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


Jewellery Insurance

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The Complete Guide to Jewellery Insurance

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Is it possible to insure an engagement ring without home and contents insurance?

Yes. In fact, home and contents insurance often doesn’t offer much protection when it comes to engagement rings. In this article, we’ll look at the pitfalls of home and contents insurance when it comes to jewellery, and we’ll also explain how to get the coverage you need.


Home and Contents Insurance is Designed for Homes, Furniture and Appliances

Designed to protect you from losses like house fires and burglaries, home and contents insurance is perfect for covering your house and its contents. For roofs, appliances, furniture, and flooring, you won’t find better protection.

The problem with using home and contents insurance for protecting an engagement ring is that your stunning sparkler goes with you wherever you go. It doesn’t stay put like a refrigerator. It goes on holiday.

Most home and contents policies only cover items when they’re physically inside your home. And while this provision does protect your ring some of the time, you need cover that works everywhere you go.


Home and Contents Insurance Has Limitations

Your ring needs protection everywhere you take it, so home and contents insurance already has a drawback. But did you know that your home insurance may not completely replace your ring even if it’s damaged, lost, or stolen at home?

Most home and contents policies have per-item limits on high-value belongings like jewellery, watches, and electronics. If a burglar steals your engagement ring, your insurance might replace it, but they’ll shop around for the least expensive option. In other cases, you may just receive a fraction of the ring’s value.

Therefore, home and contents insurance offers a measure of protection, but it can’t guarantee a full replacement.


Home and Contents Insurance Requires Valuations

With a contents policy, you’re on the hook for providing an up-to-date valuation of special items like engagement rings. We all have long to-do lists. Will you really take the time to obtain a new valuation for your engagement ring each year? Do you want to spend money on a valuation?

Without a valuation, you may have a difficult time proving your ring’s value for a claim. 

To review, protecting your engagement ring with home and contents insurance has several drawbacks:

  • It’s designed for homes, furniture and appliances.
  • It has per-item limitations.
  • It requires valuations.

Clearly, home and contents insurance isn’t ideal for protecting your engagement ring. But what’s the alternative?


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Specialised Jewellery Insurance to the Rescue!

When you read through a home and contents policy, it’s pretty clear that jewellery (if it’s covered at all) is an afterthought. 

Your beautiful rock is anything but an afterthought to you, however, and that’s why it needs superior protection. Specialised jewellery insurance is designed to do one thing and to do that one thing very well. It safeguards your sparkler from damage, loss and theft. Here’s how.


Worldwide Cover

Your engagement ring is a constant reminder of your love and commitment, so you want to be able to take it with you - everywhere you go. That’s why our JewelCover policy provides worldwide cover. You can travel to the ends of the earth, and we’ll still provide quality coverage.


Agreed Value Policy

If something happens to your ring, we won’t shop around for the cheapest possible replacement. Your ring is covered for an agreed value, no matter what.


Return to Your Jeweller

When tragedy strikes your engagement ring, it only makes sense to return to your original jeweller. With specialised jewellery insurance, you can choose any jeweller you want to take care of repairs or replacement.


Complimentary Revaluations

Leave your ring’s annual revaluation to us - no charge. Once a year, our jewellery experts will check the market prices for your engagement ring to make sure you have enough coverage. Since precious metal and gemstone prices fluctuate, it’s essential to know if you always have enough cover to handle a mishap.

A well-loved engagement ring needs specialised jewellery insurance. With worldwide cover and an agreed value policy, you’ll have the peace of mind necessary to wear it everywhere you want.

Get a free, instant quote to find out how affordable it can be to protect your precious sparkler. And if you have any questions, ring us at 1300 522 808. Talk to you soon!


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Engagement Ring Budget Calculator

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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.

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