Ontario Jewellery Insurance
Do I need to insure my wedding rings and engagement rings? How much will it cost to insure the family heirloom necklace I inherited from my grandmother? Does my home insurance include coverage for these things? These are questions we are asked all the time. We have the answers, and our jewellery insurance specialists will help you get the right coverage for your jewellery. That sparkly bauble on your finger is definitely emotionally important but you also want to be sure that it is financially protected in case of loss or theft. The right insurance can help with this.
Your standard home insurance policy may not provide the adequate coverage for your jewellery. That's where jewellery insurance comes in! Protect your most treasured possessions with the proper coverage. Jewellery coverage options include worldwide theft and loss coverage as well as additional limit options. While a replacement doesn't recover the sentimental value you held for that item of jewellery, Morison Insurance can provide you with the financial reimbursement you deserve.
What Is Jewellery Insurance?
Jewellery insurance protects you from expenses owing to the loss, theft or damage to jewellery items. This type of insurance is best when incorporated on to your property policy. Should the item you are looking to insure not fit within the limits of your property policy a stand-alone jewellery policy would fill in the gaps left behind by your home insurance policy in terms of protection of your valuable item. Jewellery insurance is tailored specifically to the item of jewellery that you would like to insure.
Who Needs Jewellery Insurance?
Do you have any luxury wearable items that you would hate to have to pay to replace? Then you should insure them with jewellery insurance. If you lose your luxurious necklace or a precious jewel falls out of your ring, it may cost you too much to replace. By investing in jewellery insurance you'll eliminate the worry of loss or damage to your costly luxury items.
What Is Covered With Jewellery Insurance?
Our jewellery insurance coverages include luxury item protection from loss, theft, damage, or disappearance options. This type of insurance policy fills in the gaps left by your home insurance policy in terms of the protection of your valuable items. Jewellery insurance is tailored specifically to the item of jewellery that you would like to insure. Coverage options for jewellery insurance include worldwide protection against theft, loss, damage, mysterious disappearance, as well as additional limit options outlined on your policy.
If you require additional coverage to ensure your precious items are properly protected, extra coverage is available when adding to your property policy. Speak with an insurance broker who will help determine how much insurance coverage you need to protect your prized possessions.
What Happens If I Lose My Jewellery?
If you lose your jewellery you are entitled to the replacement value of your jewellery and would not have to pay a deductible. For instance, if you are skiing and your ring goes missing your jewellery insurance kicks in to save the day!
What Happens If My Jewellery Is Stolen?
If you experience a break-in and your piece of jewellery is stolen, with jewellery coverage, you would be entitled to receive the replacement value of the jewellery and not have a separate deductible.
What Are The Most Common Items Under Jewellery Insurance?
The most common items under jewellery insurance include engagement rings, wedding bands, earrings, antique necklace, loose stone replacement, and watch insurance.
An insurance broker will help you determine which expensive items should be included in your jewellery insurance coverage.
What Are The Most Common Jewellery Insurance Claims?
- Rings, necklaces, watches, and other regularly worn luxury items are the most common claims
- Precious stones falling out of rings and necklaces are the most common damage claim
- Undervalued items due to the rising value of metals such as gold
- Appraisal every 2-4 years is best to ensure your precious metals are valued correctly
Where Can I Buy Jewellery Insurance?
Contact Morison Insurance and speak with an insurance specialist to discuss the various options we have to offer such as combining your jewellery with your property insurance. Get your quote started today by filling out the contact form on our website, or by calling 1-800-463-8074.
This content is written by our Morison Insurance team. It is provided for general information only. Insurance needs differ from person to person, and this article is therefore not a substitute for professional advice about your individual insurance needs which can be obtained by speaking to one of our brokers.
