Does Home Insurance Cover Lost Jewellery?

When is Jewellery Covered by Home Insurance?

Jewellery is generally covered under home insurance as part of the contents and personal possessions section. However, coverage depends on how the jewellery is listed within your policy.

Given below are some limitations -

• Specified and Unspecified Jewellery: Unspecified items are usually covered up to a certain limit, where higher-value pieces should be declared separately. For instance, there may be a cap on the claimable amount for unspecified jewellery and this varies across policies.
• In-Home Coverage: Home insurance jewellery is covered if it's lost or damaged due to insured perils like fire, flood or theft within your home. However, you must ensure that all valuables are stored securely, such as in a safe or locked drawer.
• Worldwide Coverage: Some policies extend protection for covering jewellery that is taken abroad. However, for this coverage you must opt for the additional cover - Worldwide Personal Belongings Cover.

Does Home Insurance Cover Stolen Jewellery?

Yes, home insurance can cover stolen jewellery, but certain conditions apply -

1. Theft from the Home: Home insurance policies usually cover theft if there is evidence of forced entry or a break-in. However, coverage limits for stolen items are specified, and high-value jewellery needs to be listed separately for full reimbursement.
2. Outside-the-Home Theft: Home insurance jewellery stolen outside the home may be covered under a policy that includes worldwide personal belongings cover. For example, if your jewellery is stolen while on vacation, this coverage will ensure you're compensated.

Note: Always remember to report the theft to the police immediately and provide a report to support your claim.

Does Home Insurance Cover Damaged Jewellery?

Yes, most home insurance policies in the UAE cover accidental damage to personal possessions, including jewellery, if you have included accidental damage as part of your coverage -

• Accidental Damage within the Home: If jewellery is accidentally damaged, such as by dropping or mishandling it, the repair or replacement costs may be covered. This is especially relevant for fragile items like rings, necklaces or watches.
• Policy Limits: There are limits to how much the policy will cover for accidental damage to jewellery. For high-value items, you may need to declare them individually to get full coverage for any damages.

Does Home Insurance Cover Lost Jewellery?

Home insurance may cover lost jewellery, but it depends on the specifics of your policy -

1. In-Home Loss: Loss of jewellery within the home can be covered, especially if it's a result of an insurable event, such as a burglary or fire.
2. Mysterious Disappearance: If the jewellery is simply lost with no clear cause (known as a "mysterious disappearance"), many policies will not cover this unless you’ve opted for personal belongings cover that includes loss protection, even outside the home.

Note: It’s essential to thoroughly check your home insurance policy's terms to understand the conditions under which lost items are covered.

How Can I Increase My Insurance Coverage with Jewellery?

You can increase the protection of your jewellery under home insurance by following the given steps -

1. Declare High-Value Items: Any item of jewellery valued over a specific limit (e.g., AED 5,000 in some policies) should be declared separately to the insurer. This will help you to get the claim of full value in case of theft, loss or damage.
2. Opt for Worldwide Coverage: If you travel frequently with valuable jewellery, consider opting for worldwide cover. It will extend protection beyond your home.
3. Keep Appraisals and Receipts: Always keep up-to-date appraisals and receipts for your jewellery. This documentation will help support your claim and provide accurate reimbursement if the jewellery is lost, stolen or damaged.

Where Should I Get Home Insurance in the UAE?

When searching for the right home insurance in the UAE, it’s important to find a policy that not only covers your home's structure but also provides comprehensive protection for your possessions, especially high-value items like jewellery.

At Policybazaar.ae, you can compare various insurance providers offering customised policies that include options like accidental damage and worldwide personal belongings cover. If you’re looking for basic coverage or additional layers of protection, Policybazaar UAE offers flexible plans to suit your needs.

Take the next step now – visit Policybazaar.ae and find the best home insurance that keeps your valuable jewellery safe and secure!