Valuations for insurance purposes

Insurance Valuation

Insurance Valuation

When valuing jewellery for insurance, it is very important not to base the value on a probate valuation. This is because probate valuations are normally based on a price based on resale value at the time.

Insurance valuation is the full replacement sum of replacing the jewellery on a new for old basis.

The Types Of Jewellery And Watches We Value

Smiths Jewellers Newark are able to value items such as:

  • Gold, Silver, Platinum and all types of jewellery.
  • Modern, of this century, Victorian or Regency pieces.
  • Single and multi stone diamond rings, brooches and necklaces.
  • Rubies and all other large precious stones of high carat and grade.

We offer a full valuation service for Insurance purposes. All items are appraised by our in house experts.  Although we will need you to bring along your items to the store, we do not expect you to leave them with us.

We can normally turn a valuation around within 2 – 3 days
Call or pop in for further information

Why do I need insurance?

Most home insurance policies have a maximum limit per item, normally up to £1500. So any piece of jewellery that is worth more that this will not be claimable. You may be able to list items individually in excess of this limit, but again this is normally capped at £10,000.

Why do I need a valuation?

If you make a claim on your insurance policy for loss, damage or theft, you will be required to provide either a valuation or a receipt. For high value jewellery it is recommended you have a valuation certificate to prove your claim.

How do I protect my jewellery?

The safest place would be in a bank safe or safety deposit box. However, this restricts your ability to wear the item and is not always practical.

You can for minimal investment get a small safe installed in your home, anchored to the floor or wall.