Do your favourite diamond studs join you at the supermarket? Or maybe you reserve your grandmother’s sapphire brooch strictly for those royal garden parties? Whatever way you wear your jewels and watches, your habits are of dazzling importance to your insurance provider.
As jewellery claims rise – from slippery sinks to daylight snatches – insurers are taking a closer look at how we wear and care for our treasured items. Your wearing routine isn’t just a personal style choice; it can directly influence your policy rating and premium.
Everyday vs Special Occasion
Some pieces, like engagement rings, wedding bands, or watches, may rarely leave your side. Because these items live life on the front line, they’re at a greater risk of wear, loss, and theft. On the other hand, high-ticket items like heirloom necklaces or red-carpet-worthy bracelets often get the VIP treatment and are only worn occasionally and are usually stored securely.
So, it stands to reason: the more often a piece is worn, the higher the risk, meaning the higher your insurance premium might be. On the flip side, if you keep your prized pieces tucked away most of the time, you could enjoy a more favourable premium.
Storage: The Jewellery Hotel
When your precious accessories are not being worn, where can they be found? Those who lock away their valuables in safety deposit boxes or secure home safes show insurers that they mean business when it comes to protection. This kind of safe storage can lead to lower premiums because it lowers the risk.
So, if you’re more Fort Knox than freely accessible, your insurance rating might thank you.
Gym Time? Jewellery Time-Out
Pro tip: your diamond ring or Rolex doesn’t want to lift weights with you. Removing jewellery during activities like exercising, gardening, swimming, or using cleaning products isn’t just good for your gems and timepiece. It’s music to your insurer’s ears. Reducing exposure to damage or chemicals shows that you’re a responsible jewellery owner, which may reflect favourably in your policy terms.
Travel Tales And Street Style
Planning to tour Rome with a ruby necklace? That’s bold – but potentially costly. Wearing high-value jewellery in public, especially while travelling, can seriously increase theft risk. Many savvy travellers opt for replicas or go sans jewellery while abroad, leaving the originals at home in secure storage. Insurers love to see that kind of caution and often take it into account when calculating your coverage or rating.
Shine Bright, But Check Often
Routine maintenance doesn’t just keep your pieces looking their best; it keeps them insured. Regular cleanings and professional checks (especially for clasps, claws, and prongs) help prevent loss and preserve your jewellery’s value. Some insurers even require inspections on high-value items every couple of years to ensure everything is still securely in place.
So, What’s The Bottom Line?
Your jewellery habits directly affect your insurance rating. Items rarely worn and stored securely pose less risk, and that means a lower premium. So, if you’ve got a sentimental sapphire or a never-worn investment piece, consider keeping it in a safety deposit box, away from your home. And don’t worry, you can still enjoy wearing such pieces from time to time. Many policies offer floating limits so you can take your treasures out on special occasions without compromising coverage.
In short: be smart, be safe, sparkle responsibly, and your policy will shine in your favour.
If you’d like to discuss how your wearing habits might influence your policy rating, we’re here to help. Please contact our Private Clients team on 0161 406 4800 or at info@cc-privateclients.com.
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