So, what is the correct way to make sure all our jewellery is catalogued correctly?
1. Always keep receipts for any jewellery purchases.
2. If any of the stones come with Certificates or Gem Reports, make sure to keep them.
3. Take pictures of you wearing the jewellery (and store the images in a separate folder, so you don’t have to scroll through hundreds of unrelated pictures). The Insurance companies like to see the proof of the jewellery being worn by you.
4. Have the jewellery professionally valued. The insurance valuation might seem like an additional expense to an already pricey purchase, but it could pay off in the long run. A professional valuation serves as detailed documentation of all the items. The replacement value of jewellery, in most cases, will go up in time, and having such a document will help achieve higher compensation and more accurate replacement.
5. A lot of Insurance companies will require items above a certain amount to be individually listed on the policy. It varies from company to company, so be sure to check the limit on yours. For the jewellery that does not need to be individually listed, it is still a good idea to have them valued or listed under a ‘lot’, or ‘collection’ section of the valuation.
6. And finally, never keep your documents together with your jewellery. You don’t want to lose your record or let the person who stole it know what they now have in their possession.