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Why jewellery insurance is a smart move

Insurance 101

Insuring your jewellery can save you hassle and heartache. Discover the smart moves to protect your precious pieces from theft, loss, and damage.

We all know that no look is complete without some accessories. Who doesn’t love to have a little bling? But jewellery isn’t cheap. Whether it's a sparkling engagement ring or a timeless heirloom, these pieces hold both financial and sentimental value. Here’s everything you need to know to protect your jewellery.

What are your options for insuring your jewellery?

Cover your jewellery under your home contents insurance

One of the simplest ways to insure your jewellery is by adding it to your home contents policy. This typically covers theft, accidental loss, and damage. However, you might need to specify valuable items individually to ensure they’re fully covered.

At Naked, we automatically cover jewellery up to R5,000, whether it's at home or on the go. For pieces worth more than R5,000, you can easily specify them on our app for full replacement cost.

No home contents insurance? Try single item insurance

If you don't have home contents insurance or prefer separate cover, you can opt for a stand-alone jewellery insurance policy. This type of policy covers your jewellery's replacement value, even if you're abroad.

Naked’s Single Items cover is super easy to get – perfect for insuring your jewellery on the spot, like when you're at the jeweller. Just remember, separate policies might mean paying multiple excesses in the event of a claim.

Understand what is and isn’t covered

Insurance lingo can be confusing, but it's important to know your policy's specifics. Generally, jewellery insurance covers:

  • Theft
  • Accidental loss
  • Damage from incidents like fires and floods

But there are important exclusions and conditions to be aware of:

Make sure it’s kept in a safe place

If you're not wearing your jewellery, it needs to be stored safely. Insurers may deny claims for items left in plain sight or lost during risky activities (e.g., skydiving). Some policies require jewellery to be kept in a safe when not worn.

Wear and tear from daily wear

Everyday wear and tear isn’t covered. If you notice loose stones or damage, get it fixed ASAP. Regular checks by a jeweller, every six months or so, can help prevent problems.

Who’s wearing the ring? Make sure they’re covered under your policy

If your partner wears your insured jewellery, it should still be covered. Always double-check with your insurer.

Wear and tear from daily wear

Everyday wear and tear isn’t covered. If you notice loose stones or damage, get it fixed ASAP. Regular checks by a jeweller, every six months or so, can help prevent problems.

Choose an excess you can pay at the drop of a hat

Selecting an excess is about balance – finding what you can comfortably pay at any time versus what you will pay every month in terms of your premium. This means you’ll avoid getting into trouble when it comes to claiming while minimising the amount you have to pay for insurance.

While diamonds (and other jewellery) are forever, they can still be lost or damaged. Insuring your precious items can save a lot of hassle and sadness if something goes wrong.

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