From expensive watches to sentimental pieces of jewellery it’s always upsetting if something valuable is lost, damaged or stolen.
Our Private Client team can help to ensure you have the right cover in place to protect your valuables. In this blog one of the insurers we work with, Chubb, provide their top 5 tips for protecting your jewellery against loss:
- Keep a detailed inventory - and keep it updated.
One of the most important aspects of any jewellery collection, no matter the size, should be a detailed inventory. Be sure to take high quality photographs of each piece you own, including receipts and authentication/appraisal documents where relevant. Keep the inventory itself somewhere safe, and retain both a physical version and a digital one, too. In the event of loss or theft, your inventory will be an invaluable asset during the claims process
- Look into forensic tracking and DNA identification.
Forensic tracking is a simple yet effective way of ensuring any lost valuables can be traced directly back to you. You effectively mark your valuables using either a small marker or spray to apply an invisible identifier. This identifier is unique to you, and is registered on a secure database. If the item is lost and recovered, the police will be able to identify the piece as yours and return it.
- Repair jewellery as soon as it starts to appear worn.
As soon as your jewellery starts to show any sign of wear, get it repaired. Loose or worn clasps, hooks and fasteners are a common reason for loss whilst an item is being worn. Regular cleaning is a good time to inspect your collection for damage. Using a soft, damp cloth will remove oils and perfumes which, over time, can damage the metal. It also gives you time to inspect each piece and check for imperfections.
- Closely inspect your existing jewellery policy.
Even a minor jewellery collection needs to have the correct level of cover, and it’s easy to underestimate the combined value of multiple pieces. Regular appraisals are recommended for new and older items alike. The price of gold, for example, can fluctuate, and has been steadily increasing over the last few decades meaning vintage pieces in your collection may now be significantly more valuable today than at any point previously.
- Wear it with care.
When getting ready, get into a routine of putting your jewellery on last. Not only does this offer protection from perfumes, hairsprays and lotions which can be harmful, but stops pieces getting snagged or damaged on clothing whilst dressing. Try and avoid wearing your most valued pieces when travelling, and avoid wearing jewellery altogether when doing any sort of manual work, housework included. Even a diamond ring can be chipped by a relatively minor blow.
Wilby's Private Client service is tailored to individuals who require higher levels of cover and who appreciate the additional benefits that an increased level of cover can bring.
We have established a first class reputation for providing clients with a bespoke personal service and specialist advice on all aspects of your personal insurance arrangements – your home, cars, valuables and other possessions.