Is Jewellery Insurance worth it?

Jewellery insurance can be worth it, depending on the value of your jewellery and how much peace of mind you want. Here are some factors to consider:

When It’s Worth It:

✅ High-Value Items – If you own expensive pieces (engagement rings, luxury watches, heirlooms), insurance protects against loss, theft, or damage.

✅ Sentimental Value – Even if an item isn’t extremely valuable, replacing it might be difficult if it holds emotional significance.
✅ Accidents Happen – Regular wear increases the risk of damage (stones falling out, scratches, etc.), and insurance often covers repairs.
✅ Travel or Theft Risk – If you travel frequently or live in an area with a higher theft risk, insurance provides a safety net.

When It Might Not Be Worth It:

❌ Low-Cost Jewellery – If the item is inexpensive, replacing it out of pocket might be cheaper than paying for insurance.
❌ Already Covered by Home Insurance – Some home and contents insurance policies cover jewellery up to a certain limit (check your policy).
❌ High Premiums & Excess Fees – The cost of premiums over time might outweigh the value of the jewellery itself.

Alternatives:

• Add a Jewellery Rider to your home insurance policy (often more affordable than standalone jewellery insurance).
• Secure Storage – Keeping valuable pieces in a safe or safety deposit box can reduce risk.

Would you like help finding specific insurance providers or comparing costs in Australia?

You can view Centrestone’s Jewellery Insurance Google reviews here:

One customer was quoted on their Google reviews: “Centrestone Insurance have exceeded all expectations. Big shout out to Holly, she was so professional, knowledgeable, lovely to deal with and made the process so seamless for us. Kudos to you Holly! Highly recommend this company. Well Done Team 🙂” ~ A H