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    Enquire Now

    Need help? That's what we're here for! Please fill in the form below and one of our experienced jewellers will call and assist you.

      Insuring your engagement ring & jewellery

      At Midas Jewellery, there is nothing we are more passionate about than providing our customers with luxury jewellery they can love for the rest of their time.

      We could imagine the heartbreak you will feel if you lose or have your cherished jewellery stolen.

      There is nothing worse than having your diamond wedding bands or engagement ring  lost. Not only because of the value it has but of the sentimental meaning both items hold.

      While it would already be a sad event to experience, it would be even worse not being able to afford to replace it due to a lack of insurance.

      With essential items such as jewellery, we cannot emphasise enough the importance of getting your beloved pieces insured. To learn more about this worthwhile investment, keep reading below.

      The different ways to insure your jewellery

      Did you know there are a few ways of going about insuring your jewellery?

      There are two options we recommend when it comes to insurance; getting standalone jewellery insurance or putting it under your home contents insurance.

      Standalone jewellery insurance

      Just like you would car insurance, you have the option to get insurance just for your jewellery.

      This is an ideal option for those with a large valuable collection like many of our customers. It is also recommended for those who have an extremely precious engagement ring they want to keep secure.

      Unlike home contents insurance, this type of insurance is specialised to your jewellery, consequently coming with more perks and covers. The benefits of standalone jewellery insurance generally include:

      • An agreed value policy which allows you to be covered for the worth of the product.
      • Worldwide cover which protects your ring if it was lost, damaged or stolen whilst overseas.
      • Repairs and replacements with the original jeweller.

      Home contents insurance

      Do you have your own home contents insurance? If you are eligible and if you prefer, getting separate insurance can be skipped.

      Most home content insurances provide a cover for jewellery or engagement rings. This generally will protect your products from any flooding, fire or break-ins that may occur in your home.

      We recommend checking whether your jewellery is covered and how much value is catered to. A lot of insurers will have a limit on the amount it covers, with most standard covers of a $1000 limit.

      If you have a product that exceeds this limit, which might be the case for your engagement ring or wedding bands, you will have to specify the product details to ensure it is included.

      For both types of insurances, it is vital to carefully see what you are covered for. You may want to seek additional cover or a higher premium if you want more of your value or collection protected.

      Invest in portable valuables cover

      While standalone jewellery insurance will generally cover your ring for incidents and any losses that happen outside of the property, your home content insurance policy will typically not.

      To ensure you are covered outside of the home, we recommend contacting your insurer and see if they can also offer you portable contents insurance, which may also be known as personal effect insurance.

      This gives you a peace of mind knowing your jewellery is safe when you are out and about, anywhere in Australia.

      When enquiring about portable valuables cover, you should check what items are eligible and if there are any limits with the jewellery you can apply for. You may need to specify which jewellery is the most valued piece you have.

      Important things to keep in case you need to make a claim

      The last thing you want is to have to file a report to salvage your beloved jewellery. However, sometimes these situations do pop-up and you have to be prepared in case it does happen to you.

      To ensure you can make a claim and rescue your jewellery possessions, you will need to have proof of ownership available.

      Having any receipts of certificates of purchase or related documents will help prove the value of your accessory.

      When you purchase a GIA diamond product with our team at Midas Jewellery, you will receive a GIA certificate of authenticity to prove the worth and quality of your product – this includes all of our diamond engagement rings.

      Having images is also critical in proving the details of the product. Such photos serve as evidence of the jewellery design, including any valuable features it possesses.

      If you believe your jewellery item was stolen, you must make a police report as soon as you can after the incident occurred. Immediately filing a complaint is important when lodging a stolen claim.

      As a follow-up, it is crucial to get your jewellery insured. If you were only going to insure a few items, make it be your most prized possessions, which is most likely your wedding band and engagement ring. Make a point of getting it insured as soon as your purchase it – trust us; you will thank yourself later!

      Proudly known as one of the finest jewellers in Sydney, Midas Jewellery can help you with all of your jewellery needs. We invite you to come into one of our stores to find your next purchase – just don’t forget to insure it afterwards!

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