Ontario Jewellery Insurance
Do I need to insure my wedding and engagement rings? How much will it cost to insure the 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 team 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 lost or theft. The right insurance can help with this.
Your standard home insurance policy may not provide the necessary 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 of your luxury wearable items. This type of insurance policy fills in the gaps left behind by your home insurance policy in terms of protection of your valuable items. 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 watch 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’s 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 theft and loss coverage as well as additional limit options.
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 precious jewellery is stolen, with jewellery coverage, you would be entitled to receive the replacement value of the jewellery and not have a separate deductible.
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
Most Common Items under Jewellery Insurance
- Engagement ring
- Loose Stone replacement
If you have any question about your jewellery coverage or property insurance, give Morison Insurance a call to speak with an insurance specialist about your jewellery insurance needs.
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.
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