What is Jewellery Insurance?

Well, that is because banks don’t take any responsibility for the items in case of any mishap. To eliminate this risk, getting jewellery insurance is suggested

The basic home insurance does not necessarily insure contents like electrical gadgets, jewellery, wall hangings, furniture, etc. It only protects the basic structure of the house. A sub-part of home insurance is contents insurance, and even if you have opted for it, it does not mean that all the jewellery items are insured. Contents insurance only protects the items listed on the policy. Some insurance companies, however, offer comprehensive plans that don't require a listing of the contents

Once you are well aware of the inclusions and exclusions and other terms and conditions of the policy, the first step you should take is contact your insurance provider via a call, email, or fax and inform about the damage caused or loss of the items. Though not mandatory, take images and videos of the damage as evidence. Keep all supporting documents like policy papers, ID proofs, First Information Report (FIR) copy, rent agreement, fire brigade report, invoices of owned belongings, etc. ready. The insurance company will appoint a surveyor to assess the damage. After the claim is validated, you will be offered a suitable reimbursement

Yes, you can extend the scope of coverage available under the jewellery insurance policy offered by HDFC ERGO. The cover can be extended to include worldwide coverage under Home Shield. However, for such an extension, you would have to pay an additional premium of 25% on the rate of the jewellery being insured.

While it is not necessary to buy jewellery insurance, the policy is still recommended. Here are some reasons why –

● When you take the jewellery out of the locker, even occasionally, you fear the risk of theft, loss or damage. in such cases, the jewellery insurance policy would help

● Bank lockers do not guarantee the safety of your jewellery or financial compensation in the case of theft or damage. Jewellery insurance does.

● Jewellery can get stolen from your locker. Alternatively, it might get damaged even when kept in the locker. In such cases, the jewellery insurance policy can protect you from the financial loss suffered

While keeping your jewellery in the locker can safeguard it, you might suffer a financial loss in the case of possible thefts or damages. As such, a jewellery insurance policy proves useful.

Yes, HDFC ERGO’s Home Shield Insurance policy offers coverage for jewellery and valuables as an add-on to your home insurance policy. You can opt for this coverage by paying an additional premium. The sum insured would depend on the market value of the insured jewellery subject to a maximum of 20% of the sum insured of the contents of the home.

It is a type of insurance, that safeguards various jewellery items such as engagement rings, necklaces, bracelets, and other valuable jewellery that one might own.

The cost of jewellery insurance largely depends on the cost of the jewellery insured. As a first step, you will need to get a valuation on the jewellery that you want to insure. The policy’s premium would depend on the value of the total insured jewellery.

A lot of homeowners might not be aware, that their home insurance policy covers jewellery.

The cost of Jewellery insurance in India entirely depends on the total cost of the jewellery that you wish to insure. Once you determine the price of the jewellery via a valuation certificate, you can proceed with insuring them.

Yes. Jewellery insurance plans let you claim the policy, if there is theft, burglary, damage due to fire, etc.

Given its high intrinsic value, jewellery I prone to theft, particularly if you keep them at home. Insuring your jewellery is a sensible way to protect them and at the same time, use them when needed.

Yes, you can insure your gold ornaments using your existing home insurance policy. By simply choosing a customised plan, you can insure your gold ornaments.

Yes, jewellery insurance covers jewellery that is stolen.

Yes, you can insure any type of jewellery. You will first need to obtain a valuation certificate for the jewellery that you want to insure and then proceed with the plan customisation.

Yes, you can insure your loved gold jewellery. If you already have home insurance, you can customise the plan to include the jewellery that you want to insure.

Once you're familiar with the policy's inclusions, exclusions, and other terms and conditions, your first step should be to contact your insurance provider via call, email, or fax to report the damage or loss. Although it's not mandatory, taking photos and videos of the damage can serve as valuable evidence. Ensure you have all necessary documents ready, such as your policy papers, ID proofs, FIR copy, rent agreement, fire brigade report, and invoices for owned items. The insurance company will then appoint a surveyor to assess the damage.

Yes, you can extend the scope of coverage available under the jewellery insurance policy offered by HDFC ERGO. The cover can be extended to include worldwide coverage under Home Shield. However, for such an extension, you would have to pay an additional premium of 25% on the rate of the jewellery being insured.

HDFC ERGO’s Home Shield Insurance policy allows you to add coverage for jewellery and valuables to your home insurance by paying an extra premium. The insured amount is determined by the market value of your jewellery, with a maximum limit of 20% of the total sum insured for your home's contents.