Coronavirus (COVID-19) update

Last updated: 27th March 2020

Following the Government’s announcement asking everyone to stay at home, we’re making some changes to the way we work to make sure we’re looking after our people and our customers. We’re setting up as many of our colleagues as possible to work from home, but this will take a few days.

In the short-term, we’re only accepting new business online. That means new customers can’t buy insurance over the phone.

Existing customers: Please don’t phone unless it’s absolutely necessary.

We need to prioritise:

  • Customers who have an urgent claim, for example your car is undrivable following an accident, you are injured, or your home is uninhabitable.
  • Customers who can’t pay now as a result of the Coronavirus pandemic, call us - we want to help you.

If you have questions about your renewal or want to make a change to your policy, you can use our virtual assistant. If your policy is due to renew in the next week and you haven’t opted for auto-renewal, please call us. If you have opted for auto-renewal, please make sure your insurance still meets your needs.

For more information and frequently asked questions about COVID-19, go to our Coronavirus help and support page.

Jewellery valuation and insurance

Our jewellery is often among our most treasured possessions. If you own precious or sentimental pieces, such as a wedding band or an inherited item, then it’s natural to want to do whatever you can to keep them safe. This is where jewellery insurance can offer peace of mind and reassurance.

How do I insure my jewellery?

The first step in getting the right insurance for your jewellery is to have it valued. This will help you take out the right level of cover for your item or collection (not too low or too high) so that you get adequate compensation should the worst happen. It’s important for you to know that your precious items are insured for their full value and that you’re not overpaying on your premium.

The value of items such as diamond pendants does vary greatly from one item to the next, so you need an accurate valuation in order to give you the correct level of cover. The basics of what goes into a valuation are covered below.

If you do need to make an insurance claim, you may need to prove the value of the goods lost. A valuation will help you to do this and will also prove that you own the items.

What is a valuation?

A valuation gives you an informed opinion on how much your jewellery is worth financially. Professional valuations are supplied by formally-trained experts who have a high level of knowledge about products and markets. They give you a monetary figure that represents the price you could get by selling your items at that point in time. Giving your insurer this information will ensure the correct level of cover for you.

What factors affect the value of my jewellery?

There are several factors which can affect the value of your jewellery, including size, quality and setting.

Diamonds and gold are particularly subject to wide variations in value. Diamonds, for example, will vary in value according to:

  • Shape
  • Colour
  • Clarity
  • Size
  • Imperfections (or lack of)

Gold items will vary in value according to:

  • Purity
  • Weight
  • Style

With so many factors at play, it is advisable to have an expert value your items.

Where can I get my jewellery valued?

There are several professional services that will value your jewellery for you. Look out for membership of a professional guild or union as this indicates quality services.

A good valuation provider can give you more than expert insight into the monetary value of your items. They can also give advice on how to look after or repair any items that need a little tender loving care.

To be sure you’re getting the best service, always ask about the qualifications and experience of the person valuing your jewellery.

Insuring your jewellery