How you can insure jewellery in Australia is via three main options, home contents insurance as specified portable valuables, standalone specialist jewellery insurance, or retailer insurance at purchase. Option 1, home contents insurance specified portable, add jewellery as listed item with valuation certificate, with insurers like NRMA, Allianz, Budget Direct, Youi covering $80K contents plus specified jewellery $10K to $50K, costing $400 to $800 per year contents plus $100 to $250 per $10K jewellery, excess $100 to $500, covering theft, loss, accidental damage and mysterious disappearance worldwide, requiring valuation $100 and proof of purchase, with limit $1,000 per unspecific item and unlimited specified. Option 2, standalone specialist jewellery insurance from Q Report, Jewellers Mutual, Centrestone, costing 1.5% to 2.5% of value per year, so $10K ring $150 to $250 per year, $0 excess, worldwide, same day replacement, no depreciation, better for expensive jewellery $5K+, with online quote and valuation required every 2 years. Option 3, retailer insurance at purchase from Michael Hill, Angus & Co, offering 1 year free then $150 per $10K, but often more expensive long term. To insure, get valuation certificate from authorised valuer, take photos, keep receipt, get quote via Compare the Market and Q Report online, choose excess $0 for specialist, and ensure worldwide cover if you travel. So you can insure jewellery in Australia via contents specified or standalone specialist for best cover.
1 votes
Marked as accepted