Valuation for Insurance

Have everything that you would make a claim on in the event of a loss, properly valued for insurance. The description on a valuation should be detailed enough for a jeweller to draw a pretty accurate sketch of an item. Most valuations these days come with digital images included to aid the insurer, the Police as well as the owner, when it comes to identification in the event of a loss or recovery.

Have the valuation updated every four or five years as jewellery and its replacement values, do not follow the practice of index linking as some insurers believe. In the event of a loss, insurers sometimes insist you get the replacement from their choice of supplier. Should you rather replace lost pieces from your jeweller, ensure you read all the conditions in the policy before signing it.

Do also bear in mind that in the case of any loss, sentiment unfortunately cannot be given a monetary value.