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Q Insights

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


Jewellery Insurance

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Buying an engagement ring can be intimidating. For many people, it’s one of the most expensive purchases they’ve made so far. But the financial cost of jewellery is only one reason an engagement ring needs extra care; it’s also a symbol of your love, a family heirloom and something to be cherished by future generations.


This guide to engagement ring insurance will help you to understand what is covered, how it differs from Home and Contents and travel policies, and what you should look for in an insurance provider.


What Does Engagement Ring Insurance Cover?

Your engagement ring is one of a kind testament to the love you and your partner share, which is why it’s so important to protect it with specialised jewellery insurance.

What does jewellery insurance cover?

  • Total Loss. Our policies cover the total loss of your engagement ring. This means that if your ring is lost or stolen, it will be fully replaced minus a low, flat $100 excess.
  • Partial Loss. If your engagement ring is partially lost or damaged, your insurance will restore the ring to its former state. For example, if the stone falls out of the setting and is lost, your policy will cover the replacement and setting of a new stone.
  • Pairs, Sets, and Parts. If a part of your engagement ring is lost, the entire ring will be covered under the policy.

As you can see, quality engagement ring insurance will cover a variety of unexpected circumstances, helping you to feel confident about enjoying the ring everywhere you go, even overseas!


How is Jewellery Insurance Different to Home and Contents and Travel Insurance?

At Q Report, all we insure is jewellery, so our coverage is excellent and suited to our clients’ exact needs. Home and Contents policies and travel insurance cover a wide range of items and situations, so when it comes to your specific pieces of jewellery, coverage may be lacking.


For instance, your Home and Contents policy may not protect certain expensive pieces of jewellery unless you specify individual cover for them and pay an additional premium. Even then, the pieces may only be covered when they’re in your home.


Likewise, with a travel insurance policy, jewellery under a certain value may be covered but this protection might be limited to specific situations and subject to other exclusions.


On the other hand, specialised engagement ring insurance like Q Report is tailor-made to provide comprehensive protection for your jewellery - without the hidden fees and the lengthy exclusions.


The Complete Guide to Jewellery Insurance Guide


What Should You Look for in a Provider?

When you’re looking for engagement ring insurance, it’s important that you choose a high-quality provider that can guarantee protection if the unexpected happens. You’ll need the confidence that your precious jewellery is covered with a comprehensive policy from a company you can trust.


As you search for a provider for your engagement ring insurance, look for the following qualities:


Online Reviews

References and recommendations have always been reliable sources of information, and today, references often come in the form of online reviews. As you search for an engagement ring insurance provider, pay attention to the reviews they’ve received from former and current clients. You’ll be able to learn about the company’s commitment to quality and customer service.


For instance, from an insurance provider’s testimonials you’ll learn about their responsiveness and professionalism, as well as the situations that led to clients having to have their engagement rings replaced and repaired.


We at Q Report love reading the reviews left by our customers. We’re proud to play an important role in their lives by protecting some of their most valued possessions.



Another key factor in choosing engagement ring insurance is heritage. You should choose a company with a history of high-quality insurance protection and a great reputation in the jewellery industry.


At Q Report, we’ve been protecting Australians with jewellery insurance for over a decade. Over these years, we’ve repaired and replaced engagement rings for all sorts of reasons, from theft and loss to damage from everyday wear and tear. We’re proud of our track record of following through on our commitments and restoring our customers’ prized possessions.


Our underwriter, Chubb, has been a highly reputable name in the insurance industry for 140 years. With offices in more than 50 countries, Chubb’s customers know that their possessions are safeguarded; this protection is part of Chubb’s heritage.


Today, Chubb is the world’s largest publicly traded P&C insurer. With its exceptional financial strength, Chubb ensures that all of our Q Report policies are solidly backed. In 1882, Thomas Chubb and his son Percy started in New York City. Within 20 years, they had expanded their business to offer marine and fire insurance as well. By 1960, the company was offering auto insurance. With such wide knowledge of the insurance industry, Chubb is a world expert at assuming and managing risk. Take the risk out of owning expensive jewellery by insuring it with Q Report.



Finally, it’s important that you carefully weigh the benefits offered by a jewellery insurance provider before entrusting your engagement ring to its protection. What kinds of benefits should you expect and look for?

  • Agreed Value Policy. Some engagement ring insurance policies won’t pay the full amount shown on your policy if they can replace your ring for less. With Q Report, however, we pay the actual amount shown on your policy minus a flat $100 excess if you need to make a claim. We want our clients to feel confident in their cover at all times.
  • Worldwide Cover. Some insurance policies don’t cover your jewellery when it’s overseas. Since our engagement ring insurance is tied to a specific piece of jewellery instead of a place like a home, it’s covered no matter how far you travel. Therefore, you can keep your jewellery with you and know that it’s always protected.
  • Access to Your Chosen Jeweller. We believe that it’s important that you have the option to always return to your original jeweller, so our policies provide an option for you to go to your chosen jeweller if you need a repair or replacement.
  • Free Annual Revaluation. Each year on the anniversary of your policy, your jewellery will be revalued at no charge to you. This revaluation will help you to know if you still have adequate coverage.
  • Instant Cover. With our quick and easy application process, you can have jewellery insurance before you even walk your engagement ring out of the jeweller (up to $50,000). There’s no need to wait for an extended application period or worry about when the ring is covered.

Start your search for engagement ring insurance with an instant online quote from Q Report. If you still have unanswered questions about insurance for your engagement ring check out our Complete Guide to Jewellery insurance.


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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.

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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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