How to get insurance cover for your jewellery

Last updated on February 1, 2024 

Jewellery can be a special gift, or you might treat yourself when you need some extra sparkle. Whether it’s an engagement ring, a designer watch, or grandma’s antique pearls, jewellery can be a financial and emotional investment.

If your favourite piece is damaged, lost or stolen, insurance can help cover the financial, rather than the emotional cost. We explore how insurance can cover jewellery.

Allianz Home Insurance can cover jewellery and other valuable items. There’s cover for when your jewellery is at home, and optional extra cover for when it’s out and about with you.

When your jewellery is inside your house, it’s part of your ‘general contents’ – the home contents you own and you’re responsible for. Choose from Allianz Home and Contents Insurance or Allianz Contents Insurance to cover your general contents against insured events like theft, or fire.1

We place a maximum cover limit of $2,500 per jewellery item, set or collection, or $7,500 in total. You can ask us to list items worth more than these amounts as ‘specified’ contents. For example, if your engagement ring is worth $6,000, you may need to list it separately for the replacement value you specify. Note that to cover more expensive items, your premium may change.

For details about limits of cover, see the relevant Product Disclosure Statement.

If you can’t leave home without at least one item of jewellery, you can get extra cover. With our Home Insurance, you can add optional Portable Contents cover to your Contents or Home and Contents Insurance policy. This covers your jewellery against loss or damage due to theft or accidents Australia-wide and up to 120 continuous days overseas.

You can choose from listed or unlisted cover. Listed cover is for items worth more than the set limits. For example, if your watch is worth $3,000, and the set limit is $2,500, you’ll list it separately for its replacement value. You’ll see this item on your policy schedule as Listed Portable Contents.

Home insurance isn’t just for homeowners. If you’re renting your home, you can take out Contents Insurance for renters to cover your jewellery and other belongings at the property.

You’ll need to take out Contents cover, either as Contents Insurance or Home and Contents Insurance. When getting your quote, you can add Portable Contents cover in these three steps:

  1. Select Portable Contents
  2. Add the value of your jewellery under ‘Listed Portable Contents’
  3. List your jewellery as separate items when you buy your policy

If you already have Contents cover with us, and would like to add the Portable Contents option, contact us.

Our Home Insurance offers Contents cover under combined Home and Contents Insurance, if you also need Building cover, or standalone Contents Insurance.

If you have Contents cover, we’ll insure your jewellery up to the policy limits against:

  • Damage from 11 insured events, including theft or fire,1 at your home

We’ll usually pay to repair or replace your home contents under your general contents – up to the policy limits for the following items:

  • Jewellery such as rings, earrings, bracelets, bangles, necklaces and pendants
  • Watches – except smart watches
  • Items containing gold or silver

If you add optional Portable Contents cover to your Contents or Home and Contents policy, we'll also cover your jewellery against:

  • Damage from an accident outside of your home
  • Theft when your jewellery is outside of your home

If you’re wondering what else is covered, read our article What is home and contents insurance? Or see the relevant PDS.

Insuring jewellery when you’re on holiday can be a smart move, just in case of theft or an accident.

Your jewellery will only be covered overseas if you have Home Contents Insurance and you’ve listed the items under optional Portable Contents cover. Once it’s listed under Portable Contents, your jewellery is covered overseas for up to 120 continuous days.

It’s also worth remembering that jewellery items valued up to $2,500 are only covered within Australia if you’ve added Accidental Damage cover to your policy. They won’t be covered overseas unless you have Portable Contents cover.

This is a summary only of some of the features and benefits available on Allianz Home Insurance. Before deciding on a policy, carefully consider the relevant Product Disclosure Statement (PDS) and Supplementary PDS (where applicable) which set out the standard terms, conditions, limits and exclusions.

Whether you choose Contents or Home and Contents cover, here’s how our Home Insurance covering jewellery works.

We place maximum limits on how much we’ll cover jewellery for:

  • $2,500 per item, set or collection
  • Up to $7,500 in total for each category of items, sets, or collections

If your jewellery is worth more than the set limits, ask us to add it to your home contents inventory as specified contents. We’ll need to know its replacement value, and we’ll list this separately on your policy schedule.

Specified contents items are only covered at your insured address. If you want to cover your jewellery outside your home, consider optional Portable Contents cover.

If your jewellery items are worth more than the maximum cover limits, you should list them as specified contents and specify their value. Specified contents items are only covered at your insured address.

Jewellery that’s worth less than the maximum cover limits doesn’t need to be specified.

A jewellery valuation will give you an accurate description of your jewellery and its value, based on the current market. You’ll get a valuation certificate that can be useful if you need to make an insurance claim.

You can get a jewellery valuation from your retailer when you buy a new piece of jewellery, or from a reputable jewellery valuation service.

You should get your jewellery valued every two to three years to make sure your valuation is current, according to the National Council of Jewellery Valuers. If the value has increased, it’s important to make sure you’re not underinsured.

Keep your valuation certificate in a safe place in case you need to make a claim.

There are just three steps to make a claim with Allianz.

  1. Get the details – you’ll need the following:
    • A police report, if your jewellery has been stolen
    • Evidence of the loss or damage to your jewellery
    • Proof of ownership, such as receipts, credit card statements and photos
    • Your valuation certificate or other proof of value, such as receipts
    • Your policy details
  2. Once you’re ready, lodge your claim online. Or if you prefer, give us a call on 13 10 13.
  3. One of our friendly claims consultants will contact you as soon as possible.
1. 72-hour exclusion period may apply. 
We don’t provide cover for any loss of or damage to your property caused by cyclone, flood, grassfires and bushfires, during the first 72 hours after you first purchase a policy or increase your cover under an existing policy. For full details of conditions and exclusions please refer to the relevant PDS.

This article has been prepared by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL234708 (“Allianz”). In some cases, information has been provided to us by third parties and while that information is believed to be accurate and reliable, its accuracy is not guaranteed in any way.

Any opinions expressed constitute our views at the time of issue and are subject to change. Neither Allianz, nor its employees or directors give any warranty of accuracy or accept responsibility for any loss or liability incurred by you in respect of any error, omission or misrepresentation in this article.

Allianz acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Custodians of the lands on which we live and work across Australia. We pay our respect to First Nations Elders past and present.

Any advice here does not take into account your individual objectives, financial situation or needs. Terms, conditions, limits, and exclusions apply. Before making a decision about this insurance, consider the relevant Product Disclosure Statement (PDS)/Policy Wording and Supplementary PDS (if applicable). Where applicable, the PDS/Policy Wording, Supplementary PDS and Target Market Determination (TMD) for this insurance are available on this website. We do not provide any form of advice if you call us to enquire about or purchase a product.

Allianz Australia Insurance Limited ABN 15 000 122 850 AFS Licence No. 234708 is the insurer of any general insurance products offered, and Allianz Australia Life Insurance Limited ABN 27 076 033 782 AFS Licence No. 296559 is the insurer of any life insurance products offered. Each entity is responsible for any statements and representations made about its products, on this website.