Worldwide jewellery insurance is designed to protect insured jewellery outside the UK as well as at home. It can extend your protection when you travel, although exactly how that cover works will depend on the policy.
For anyone who regularly travels with an engagement ring, watch or other valuable jewellery, that can be useful reassurance.
But check the policy wording. Worldwide jewellery insurance has its limits and won't cover every eventuality and not all policies offer this element of protection.
What does worldwide jewellery insurance cover?
This depends on the individual policy. Cover may typically include accidental loss, damage or theft.
For example, you lose an insured ring while you're away or accidentally damage a bracelet. If that type of loss or damage is covered by your policy, you may be able to claim for its repair or replacement.
Limits or conditions may also apply to trip length and how jewellery is stored.
How long does worldwide jewellery insurance cover you abroad?
There is no standard period. Some policies limit consecutive or total days overseas. If you are planning a longer trip, check this before you go.
Does all jewellery insurance include worldwide cover?
No. Some jewellery insurance policies include worldwide cover; others don't.
Even where worldwide cover is included, there may be restrictions. These could include a limit on how long you can spend abroad or requirements around how your jewellery is stored and looked after while you're away.
jewellery insurance includes worldwide cover for insured items, subject to the policy terms, conditions and exclusions.
Do I need worldwide jewellery insurance?
It depends on the cover you already have. You may already have some protection through your home or travel insurance. This is where it pays to look beyond the headline cover. How much would the policy actually pay out for your jewellery in the event of a successful claim? Does it cover the country you're visiting? And are there circumstances where you wouldn't be covered? Cover for personal possessions under travel insurance is often quite low.
Does home insurance cover jewellery worldwide?
It can. Some home insurance policies include personal possessions cover away from home, or offer it as an optional extra. This may include jewellery overseas.
However, individual-item and overall valuables limits can be important. A high-value ring or watch may be worth more than the policy will pay for one item. You may also have an excess to pay following a successful claim. With Assetsure jewellery insurance policies, there is no excess to pay.
You can read more in our blogs: Does your home insurance cover jewellery? and Is jewellery covered by home insurance?
Does travel insurance cover jewellery abroad?
Possibly. Jewellery may fall within the baggage or personal belongings section of a travel insurance policy, but the limits are worth checking. The single-item limit could be lower than the value of your jewellery, with a separate overall insured amount for valuables.
Also check the conditions for jewellery left unattended, kept in a hotel room or placed in checked baggage.
When might specialist worldwide jewellery insurance be useful?
If neither your home nor travel insurance gives you the cover you're looking for, you may wish to consider specialist jewellery insurance.
A specialist policy lets you insure particular pieces - or a number of items - rather than relying on the broader limits of another insurance policy. Depending on the policy, cover can apply at home and overseas.
What isn't covered by worldwide jewellery insurance?
Exclusions vary between insurers. Wear and tear, deliberate damage and jewellery left unattended are examples of circumstances that may not be covered. Policies may also include requirements to take reasonable care and use a safe.
Our Travel guide for taking jewellery abroad looks at some of these considerations in more detail.
Is worldwide jewellery insurance worth considering?
Worldwide jewellery insurance may be worth considering if you want cover specifically for valuable jewellery at home and on your travels. Compare it with your existing cover and check the limits, conditions and exclusions.
At Assetsure, our jewellery insurance includes worldwide cover for insured items, subject to the policy terms, conditions and exclusions.
You may be interested in: Should you take your best jewellery on holiday.
