OK, that title was a bit misleading for those looking for weight loss tips…but it is factually correct.
I was recently asked to review a potential client’s home insurance, including quite a lengthy list of expensive jewellery.
Like many people, they hadn’t read much of their documentation, but I noticed that their existing policy had a clause requiring them to have all items of jewellery professionally inspected every year to make sure the settings and clasps were in good condition. They hadn’t noticed this and none of their jewellery had been close to a jewellers in several years. So if they had lost a diamond from their valuable ring, they would not have been insured!
Some insurers apply this condition because losing a stone from a piece of jewellery is very common and a single stone in a ring can be worth many thousands of pounds. What causes such a loss is usually a broken claw on the ring – hence the requirement to have them checked.
I felt that an annual inspection was quite onerous and was able to place them with an insurer that in fact had NO such requirement to have jewellery inspected.
If you want to check and make sure your home insurance is “fit for purpose”, then please give us a call.