What is jewellery insurance?

Jewellery insurance could cover the cost to replace your jewellery. You'll usually be covered if it's lost, damaged or stolen while in your home.

Your jewellery is normally covered by your Contents Insurance, when it’s in your home. You can add extra cover for when you’re away from home, to protect your items on the go.

When you’re insuring your jewellery, you’ll need to know how much it is worth. Contents Insurance usually has limits on how much you can claim for jewellery. This might mean you can’t claim for the full cost of it. Check your policy documents to understand the limits.

Valuing your jewellery while getting it insured

If you ever need to claim on your policy, you need to make sure you know how much your valuable items are worth, so you know how much to claim.

There are lots of ways you can get an accurate valuation of your jewellery. These include getting an official valuation from:

  • An expert dealer
  • A pawnbroker
  • A high street jeweller

It’s a good idea to keep your receipts for any new pieces of jewellery you buy, so you know how much they cost. You will need to update your policy each time you buy or receive a high value item.

Remember, the price of items like gold and jewels can change. So, get your items valued every 2 years to help keep them up to date. 

Do I need to insure my jewellery?

Once you know how much your jewellery is worth, you'll need to check that they are insured for the right amount.

To do this, you'll need an accurate value of item of jewellery. This will make sure you are covered for the full cost to replace them.

What happens if jewellery is underinsured?

If your jewellery isn’t valued properly, it can be hard to insure. This might mean you may end up being uninsured.

If you’re underinsured, you might not get the full amount of a claim for any lost, stolen or damaged jewellery.

For example:

  • If your jewellery is worth £6k.
  • You only insure it for £3k
  • You’re underinsured by £3k.
  • This means you may have to pay more of your own money to get a replacement. 

Ready to get a quote?

Getting a quote only takes a few minutes and you can protect your jewellery instantly with Lloyds Bank Contents Insurance.

Get a quote

How to keep your jewellery safe

Your jewellery may have a high value, but family attachment can go beyond any cash price.

Whether it’s a collection of gemstones or a cherished gift, you’ll want your jewellery to be safe and sound.

Here are some ways to keep your items safe: 

  • Where possible, make sure that all your jewellery is kept out of sight and stored securely.
  • Keep your doors and windows locked, even if you only go out for a few minutes.
  • Fit a safe or hire a safe deposit box in your home.
  • If you don’t have a safe, find a suitable hiding place. Avoid obvious places like in your clothes drawers.
  • If you don’t wear your jewellery often, you could use a bank safety deposit box.
  • Keep a record of your jewellery and its value. If you don’t have receipts, use the Guild of Valuers and Jewellers.
  • Use a discreet box when moving your jewellery. This may help you avoid drawing attention.

How Lloyds Bank Home Contents Insurance can help to protect your jewellery

You can protect your jewellery while it’s in your home with Contents Insurance. This will protect you against the cost of repairs caused by things like floods, fires or theft.

It can also cover other expensive items, such as:

  • Computers
  • Stereos
  • Televisions
  • Artwork

Adding higher value items to your policy

Our Home Insurance has two tiers:

  • Lloyds Bank Home Insurance. This level of cover allows you to select high risk items cover up to a total of £30k.
  • Lloyds Bank Home Insurance Premier. This higher level of cover allows you to select high risk items cover up to a total of £50k.

You must also list individual items for both Standard and Premier policies if they are valued at more than £3k. You can add items that are individually valued up to £20k. 

Limits, terms and exclusions apply to all levels of cover. 

What's not covered by Lloyds Bank Home Insurance?

  • Single items worth more than £20k.
  • Theft by anyone you invite into your home.

For more information on what is and what's not covered, check out our policy booklet.

Limits, terms and exclusions apply to all levels of cover.