Buying for your Valentine?
Tips to ensure your valuables are correctly insured.
As Valentine’s approaches you may be considering purchasing an expensive gift for a loved one, or perhaps you are reminded of that cherished item or family heirloom which you have had for some time.
Whatever the occasion, it is always worth checking your valuables are protected. Valuation of jewellery is often something which is overlooked but you should always ensure you have the correct cover in place so that if in the event of losing or damaging an item you would be able to receive either an equivalent replacement or an appropriate cash value.
Here are a few simple tips to ensure you can enjoy your jewellery for many years to come:
Store it in a safe place
If you are not wearing it, you may want to keep your fine jewellery in a bank safe or in- home security safe. Security safes are installed by homeowners to offer protection and can be a requirement of the insurers, many devices will also provide a degree of fire protection as well.
Get it appraised
If you’re not sure of the value, seek out a professional appraiser who can document the actual value of your piece. A reputable jeweller who is NAG (National Association of Goldsmiths) registered will also be able to tell you what your pieces are worth so you can then make sure they are insured for the right price.
Add it to your insurance
Your home insurance may not fully cover expensive jewellery. To provide peace of mind, consider purchasing a policy which offers you valuable articles cover, that provides all-risk protection, as well as automatic coverage for newly acquired pieces. If you’ve already got a valuable articles policy in place, make sure to add your new piece to this schedule.
Our Private Client team can source policies with enhanced levels of cover for jewellery, but it is always important to ensure that policy limits are suitable for your needs and we are always happy to discuss this on an individual basis to be certain you have the cover you need. We can also assist you with safe installation advice and help locate a professional valuer.
Our Nationwide Private Client team have a wealth of knowledge and experience in this field and will be able to guide and advise you to ensure your precious items are fully protected.