If any item of jewellery is lost or stolen then immediately notify the police, and ask for written confirmation of your notification. If a crime has been committed, such as theft, then you may be asked to attend an interview by the police.
The next step is to report the loss to your insurance company immediately, and ask for advice on what steps to take next. Gather all documents you have regarding the lost or stolen items, such as valuation certificates, purchase receipts, guarantee, and warranty certificates, and pass them on to your insurers if needed.
The insurance company will usually forward you onto a specialist jewellery supplier who can discuss your claim with you, and following a successful claim reimbursement can be handed out in cash, vouchers, or made to order jewellery. If you do request a cash settlement instead of electing for replacement items, you may receive a percentage of the replacement value, but double check your policy for details or ask your insurer.
Remember to keep proof of ownership, which can sometimes be the cause delays in settlement. As mentioned previously keep all receipts and other documentation relating to the items, along with photos of the jewellery (photos showing the jewellery being worn are very helpful in proving ownership).
How to Cut down the Chances of Making a Claim
When you are not wearing your jewellery keep the items placed in locked container and in a secure, but not obvious, place. When thefts take place bedrooms tend to be one of the first places thieves will search in order to find jewellery, so try and keep it hidden in another room of the house. Buying yourself a safe is highly recommended, but can prove costly.
Worn out clasps or chains should be replaced so that your jewellery remains intact and doesn’t fall off when out and about. Some policies require that you have your jewellery examined for wear and tear regularly.
- Remember to take out the right policy ( A personal Possessions policy is recommended)
- Make sure jewellery items worth £2500 or more are specifically declared and insured
- All jewellery items MUST be locked away in safe place when not being worn (avoid the bedroom). If possible purchase a safe.
- Carry out up-to-date and accurate valuations of your jewellery
- Keep the valuation certificates and all other item-related documents in a safe but separate place from your jewellery.
- Report any loss or stolen items to the Police and notify your Insurance company