Insuring Your Heirloom Jewellery And Valuables

Many people do not realise that the valuables in their home are not protected until it is too late, only finding out when they put in an unsuccessful insurance claim.

It is common for many insurance companies to state that valuable items, including jewellery, must be declared on your policy, and sometimes even have a spate policy for them.

If you want to protect your family heirlooms, follow the advice below, and be able to safeguard the inheritance of your children.

jewellery set

3 tips for insuring your heirlooms

Know the value of your heirlooms

If you purchase items from websites such as, it is essential to realise that the price that you paid for them may not be the same value as what they are insured for with your insurance company.

When you have items that you wish to be heirlooms for your family, you will need to get them professionally valued for insurance purposes.

You will need to realise that the value placed on the items will not take into account sentimental value, and you may only be covered for the scrap value of the precious metals and gemstones. Unless it is a stunning item that would be in high demand if sold. 

Shop around for insurance

When you have a gorgeous item of jewellery, it is a piece to be worn with pride, and the insurance market has many different companies offering policies for that, which will vary in costs, as well as what they cover.

You will need to shop around for the best insurance policy to safeguard your valuable heirlooms, and you will also need to make sure that you read the small print, as well as their terms and conditions.

However, if you do not adhere to the terms and conditions of your policy and something unfortunate happens, you may find that your insurance is null and void.

You will want to have a list of all your heirloom items and speak to as many insurance companies as possible to make sure that you get the most comprehensive policy that covers you for accidents or loss, as well as theft.


Keeping your heirlooms safe

The best place to keep your valuable heirlooms safe is with a bank or security company in a safe deposit box. However, this is not something that everyone can afford, but some alternatives can be cheaper in the long run.

You may wish to consider installing a safe in your home, which can help to safeguard your heirlooms, as well as other valuables and vital documents.

You may also find that if you have one of these installed that your insurance company may reduce the premium on your insurance policy, so it can also save you money in the long term.

You can also use a robust security box to keep them in, but these are usually easily portable, so if your home was burgled, thieves can get away with it and open it at their leisure.

If this is an option that you choose, you can always install a tracking device which will help you to trace where your possessions are if they do get stolen.


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