Assurance Œuvres d'Art | Lussier Dale Parizeau

Jewellery Insurance

Is your significant other constantly showering you with diamonds by the dozen?

 

 As the song goes, diamonds are a girl’s best friends. Alas, burglars really want to be their best friends too. It is therefore essential that you tell your insurance broker if you possess valuable jewellery to find the best insurance option for these valuables.

In standard home insurance policies

Coverage amount for jewellery theft is usually capped at $2,500 to $6,000.

In high-value items insurance policies

High-value items insurance policies have slightly higher coverage limits, at $10,000 to $50,000.

 

You can get a specific insurance for your jewellery!

We highly recommend that you get a specific insurance to protect your jewellery.

It is very flexible– you can elect to only insure an engagement ring or cover a full set of jewellery and luxury watches.

 
Example

A client has a few jewellery pieces she wears on a daily basis that are worth around $10,000. Her husband has a Rolex watch priced at $30,000. It is possible to include her jewellery on their home insurance policy, and have his watch covered by a specific insurance.

 

It is also possible to insure the jewellery and other valuables under a single limit or as a detailed list.

 

Benefits of a specific insurance

 
1

No deductible

2

Theft and mysterious disappearance are covered

3

The policy covers up to 150% of the assessed value, allowing for a potential replacement cost or market value increase since the purchase date. In practice, this means that if your jewellery cost you $2,500, you may be reimbursed up to $3,750 if its market value has increased.

 

One can also cover borrowed or on-consignment jewellery under certain conditions.

 

Insurance for valuables kept in a safe.

 Cadenas

Should high-value jewellery be kept in a safe or a vault at a financial institution, insurance rates are competitive since the risk is reduced. However, please note that the policy may stipulate a maximum number of times they may be taken out of the vault, under certain conditions.