Jewellery can hold some of our most treasured memories. If you have items of jewellery that are precious to you, no matter the worth, you should be thinking about how you take care of them. Jewellery is seen as “portable wealth” and often a target for burglars. So how safe are your sparklies?
· Have you specified your jewellery? It’s something we often don’t think to do, but unless specified on your policy, if your jewellery is lost, stolen or damaged you may receive a much lower amount than what it’s worth. For example, any insurers pay a maximum of $3,000 per item for any one event.
· Do you own a lot of jewellery? It’s also important to know that many insurers cap the total amount you can claim for all unspecified jewellery, for example a maximum of $15,000 for all jewellery for any one event.
· Have you checked the setting? Your insurance might specify how often you need to get the setting checked, say, every 12 months.
· Does it need to be revalued? Expensive jewels may need to be revalued at regular specified intervals to keep their values up to date.
· Kept receipts or ownership records? If you buy jewellery that’s not specified in your policy, make sure you keep receipts, certificates or warranties, and take photos. beContento™ is a great place to store these and it gives you easy access to them immediately.
It’s important to check what you are covered for and what obligations you may have – to fulfil the terms of your insurance. That way, should something happen and your jewellery is lost, stolen or damaged, you’ll be covered.
K Mahika Police Notebook: Jewellery targeted in residential burglaries (New Zealand Herald.co.nz)
New Zealand Police, Protect your property and vehicles (New Zealand Police)
R Stock Why jewellery insurance claims fail, and how to make sure they don’t (Stuff.co.nz)
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