Would you believe it, there are rumours circulating that travel insurance isn’t all it’s cracked up to be.
It’s recommended that travel insurance is purchased prior to a holiday, regardless of the type (adventure, clubbing, relaxing), however facts and figures show that a lot of companies don’t give you all the details, and they won’t usually cover you enough for smartphones and sentimental items such as expensive engagement rings. Unbelievable! If that’s the case, what’s the point in travel insurance at all?!
Experts have warned that travel insurance providers put caps on the amount they will reimburse you in the event of a theft. It’s common for many people going on holiday to take important, valuable items with them including cameras, laptops, jewellery and smartphones. Jewellery is probably one of the most valuable things to a person due to it’s sentimental value. Bear in mind that excess will also be expected to be paid by you, leaving the amount you are reimbursed even lower!
Here’s how to make properly sure your travel insurance covers things such as precious jewellery:
To make sure your jewellery is insured properly you need to insure it separately. You can either name it separately on the same policy, or choose a specialist jewellery insurance provider to do it for you.
Work out the items you need cover for. You’ll need to tell the insurance company exactly what price they were bought at (proven with receipts if you can), what they are estimated to be worth now, the quantity you have and a description of the items.
To help with descriptions of certain items, you can take photographs to show insurers, and this will also benefit you if anything gets damaged as you can show what condition the item was in before the mishap.
To help with the estimation of what your jewellery is worth now, you need to go to a qualified jeweller that can give you a certificate.
Once you’ve supplied the insurer with all of the information make sure you keep copies of any documents you’ve sent over, and any documents they sent to you and put them in a safe place.
When travelling with your jewellery, keep it in a safe when you aren’t wearing it if you can. You can sometimes rent these out from the hotel you are staying at. Don’t wear anything of value around the pool either, where it could easily get stolen. Ensuring you do this will show you’ve taken proper care of your insured items and will help your claim.
In the event something does happen to your jewellery, you must inform the police and get a written report to show your insurer. If anybody in the hotel, staff or guest, has information on anything that went on or was a witness to something, get the police to take a statement from them and record the names of the police and witnesses.
As soon as you have a report from the police you can inform your insurance provider of what’s happened. Making sure you have police reports, statements, and names of witnesses will all help in getting your claim sorted out much faster!