- If your policy does have cover away from the home there may be certain limitations on how long your jewellery will be covered whilst abroad
- If you have a large collection of jewellery you may have opted for a ‘jewellery float’ or sometimes called a ‘floating limit’
Is my jewellery insured while I am on holiday?
We are often asked whether jewellery is covered whilst away on holiday. Here are a few things to think about before going away.
Does your home insurance include ‘All Risks Worldwide Cover’?
This means that your jewellery and personal belongings are covered in and away from the home, even whilst abroad. If you have expensive items of jewellery you may not be able to rely on your travel insurance as most policies will only have a low limit for ‘valuables’.
If your policy does have cover away from the home there may be certain limitations on how long your jewellery will be covered whilst abroad. This is generally ample cover for a two week summer holiday; however, if you plan on going on an extended holiday please check you have adequate cover. If you are already a client of ours please speak with your dedicated Account Handler.
Are there any restrictions in place?
If you have a large collection of jewellery you may have opted for a ‘jewellery float’ or sometimes called a ‘floating limit’. This means not all your jewellery is covered on a worldwide basis as some of your jewellery is kept in the home safe. This may be because what you wear at home on a daily basis is significantly less than your total collection. If this is the case you should make sure you have adequate cover for the jewellery you are taking on holiday as your float may not be sufficient for the more expensive items of jewellery.
Another point to consider is whether your insurer has applied a restriction on a certain piece of jewellery due to its value. This could mean that your diamond ring, for example, must either be worn, carried with you or kept in a safe. This is generally called a ‘Personal Custody Clause'.
Should you rely on the safe in your hotel room?
As you know, most hotels have room safes; we would not recommend leaving your jewellery in these safes, particularly items of high value that have a personal custody clause. These safes are surprisingly easy to break into and you may prefer to ask the hotel reception to hold your jewellery. Always check your insurance policy for details of permissible safes
Always be selective with the items you are taking away with you.
We are always here to help and offer the best advice on what policy is right for you. Please do not hesitate to contact Lark to discuss this is more detail.