Jewellery Insurance Coverage for Your Home

Whether it’s a gold necklace that was gifted by your mother, or the diamond ring with which your husband popped the question, or those gold and silver coins you bought on auspicious occasions, jewellery items not only help us make a statement in social gatherings, but a gamut of emotions are also attached to them. And from a financial point of view, they are considered great investments. Be it a family heirloom or the latest buy, jewellery items have a good resale value.

Given their monetary worth, it is only prudent to protect them from accidental loss, damage, burglary and theft. While bank lockers are one way to do that, with time, people are getting more comfortable with the idea of getting their jewellery insured. While insurance companies offer standalone jewellery insurance, largely it is available under a home insurance policy. And you don’t need to buy a comprehensive home plan for that; you can simply opt for a customized plan that offers protection to your jewellery.

Please Note: Jewelery will be covered subject to it's being kept in locked safe within the home premises.

Factors that decide the premium of the insurance

The amount of depends upon multiple factors that influence the premium cost as well as the coverage that comes with it. Here is a look at the same:

• Number of items: First, you need to list the number of jewellery items you need protection for


• Valuation: Once you have made the list, find out the market price of the items to understand exactly what amount of money can get insured. Valuation certificates of the jewellery can be obtained from any noted jeweller. Your premium largely depend on the total sum assured.


• Research and compare: The next obvious step is to do some research about companies offering standalone jewellery insurance or provision to cover it with home insurance policy and get quotes from different insurers. Do a thorough study of the offers by reading the terms and conditions. You should opt for one that provides greater coverage with smaller premiums and less exclusion. Always keep an eye on the claim settlement ratio of the company and discounts offered by them, while doing your research.


• Extent of coverage: To reiterate, only an ‘All-Risk Cover’ will provide coverage against most of the probable perils. Some of these insurances provide 100% coverage i.e., you can get up to 100% of the cost of the jewellery items insured. The regular insurances cover only a portion of the jewellery’s value.