Steve Pallas Bespoke Jewellery Can Help Arrange Protection
Jewellery Insurance Services in Melbourne with the Help of Steve Pallas Bespoke Jewellery
It is important to have a jewellery insurance policy as it can provide comprehensive coverage against various scenarios such as loss, theft or travelling with jewellery overseas that may not be covered by your standard homeowners or renter’s insurance.
In Melbourne, rates for jewellery protection can vary. At Steve Pallas Bespoke Jewellery, we highly recommend Q Report Jewellery Insurance over any other insurer. We can help arrange protection for the following:
- Loss and Theft: in case you misplace your jewellery and cannot find it or if your cherished jewellery is stolen, Q Report Jewellery Insurance will ensure it can be replaced quickly.
- Damage: if your jewellery is damaged or cracked following an accident, this policy will cover the cost of repair.
Jewellery Insurance Services in Melbourne for Nonspecific Jewellery Items
Insurance companies commonly cover general jewellery items as part of their home and contents insurance policies. These policies will generally allow for $5,000 as a total value, with a limit of $1,500 on average for each piece of jewellery. They will ask you for proof of purchase when you place your claim, though not generally when setting up your policy.
Usually, it is required to provide a formal jewellery valuation certificate for insurance purposes and a receipt for proof of purchase that includes a description of the jewellery item. While typical jewellery claims come under the general jewellery category, providing proof of purchase and cost is essential, therefore it is important to keep the receipt in a secure place in case it is needed. We recommend keeping photographs of your receipt and jewellery as a photograph may be able to be used if the receipt is lost.
Your insurer will provide a product disclosure statement (PDS); it is a good idea to read and understand this.
For policies regarding specific jewellery items, most insurance companies will usually require a jewellery certificate along with proof of purchase for items valued over $1,000 or $2,000 (this will differ between companies) before specified jewellery insurance services are issued.
We recommend that you speak directly with your insurer about your particular requirements to ensure you have the right cover. There is also an option to use an insurance broker when insuring items of high value.
As we have mentioned, while home and contents insurance is critical, it doesn’t offer comprehensive cover for your precious jewellery. We recommend that you consider a policy from Q Report Jewellery Insurance in case of loss, theft or damage.
- 12-month policy that covers you worldwide, so you can travel with your jewellery without worrying.
- An agreed-upon value policy that includes 125% cover.
- Annual revaluation of your precious jewellery at no additional charge to ensure you are never underinsured.
- Q Report Jewellery insurance is backed by Chubb Insurance Company of Australia Limited.
As we are a Q Report Certified Jeweller, we can ensure you’re covered before you leave our Melbourne store. For more information about their jewellery insurance services, you can call Q Report Jewellery Insurance on 1300 882 018 or visit qreport.com.au.
A jewellery valuation certificate is a document that describes the covered jewellery in considerable detail and declares the value of the item. These certificates are often required for taking out individualised insurance policies for jewellery. These certificates may not be needed for policies for non-specific jewellery items.
At Steve Pallas Bespoke Jewellery, we can provide you with a jewellery valuation with any purchase for items over $1,000. Please note that there is no legal obligation for a jeweller to issue a jewellery valuation certificate when you purchase jewellery, however it is likely that you will need to provide your insurer with a certificate, therefore it is a good idea to ask for a certificate. We can also provide a jewellery valuation for pre-owned or inherited jewellery. You should update your jewellery valuations every two years, so they are current.
Your insurance valuation should list two fundamental values. The first valuation is the for-new value, which is the cost of a brand-new item of comparable quality. The second valuation is the indemnity value, which is the current value of your jewellery item; this is the amount necessary to purchase second-hand jewellery that is comparable in age, quality or condition.
Steve Pallas Bespoke Jewellery in Melbourne have over 20 years of experience in the jewellery making industry, we create awe-inspiring pieces that you will cherish for a lifetime. Jewellery tells a story, it expresses your love and individuality, therefore it deserves to be protected. We use many rare, unique and precious stones and metals, so our jewellery is not only incredibly sentimental, but it can also be unbelievably valuable. Jewellery insurance provides peace of mind that is priceless. If you have personally designed an item of jewellery and paid for an expert craftsperson to handcraft a precious and rare stone, it deserves to be protected. The team at Steve Pallas Bespoke Jewellery will ensure you find the right insurance for your jewellery items to ensure you always have peace of mind.