Many of us own jewellery we’ve had for years. Rings, necklaces or watches passed down, gifted, or bought long ago. And if you haven’t checked recently, it can be hard to know what they’re worth today. Knowing the true value of your jewellery matters.
Get it wrong and you could be paying too much for your home insurance – or worse, find yourself underinsured if you need to claim. This guide explains why having your jewellery professionally valued helps make sure your most treasured items are protected if they’re lost, damaged or stolen.
At a glance
You must tell your insurer that you wish to cover high-value items on your policy or that their value has changed so that they can name them on your policy.
EASY AS HACK
It's important to get your jewellery valued for insurance because:
- It enables insurers to set the correct amount of cover for your policy
- The value of your jewellery can change over time. For example, gold prices can rise, increasing their value.
Why do you need to get your jewellery valued?
Before you take out or renew your contents insurance, it’s worth having your jewellery professionally valued. This step helps make sure you’re insured for the right amount and are adequately covered if you ever need to claim.
When we say ‘valued’ (or ‘appraised’), we simply mean having a professional assess what each piece is worth in today’s market. Accurate valuations ensure you are obtaining the right cover for your needs.
Valuing each piece of jewellery individually gives your insurer the accurate information they need to insure it properly. This also makes a claim much easier to validate and reduces delays.
Some items may be worth more than your policy’s single item limit – the maximum your insurer will pay for one item as part of a claim. Single item limits vary by insurer. At Ageas, the single item limit is £2,000.
If a piece of jewellery is worth more than this limit, you can still insure it – but you’ll need to specify it (which means list it as a high value/high risk item) on your home insurance. This ensures it’s properly covered within the overall limits of your policy.
Insurance claims are based on current market value, not what you paid at the time when the item was purchased. For example, a necklace worth £2,000 a decade ago could now be valued at £6,000. If you haven’t updated your cover and your policy only pays up to £2,000 for a single item, that’s all you’d receive if it was stolen. You’d need to make up the remaining £4,000 yourself.
A current valuation helps avoid surprises like this and gives you confidence that what matters most is properly protected.
Using a valuation can help support evidence in an insurance claim
The loss of a piece of jewellery can hit you hard, especially when it has sentimental value. After you’ve searched everywhere and realised it’s gone, you’ll likely face another task – proving what it was actually worth before your insurer will pay.
The most convincing evidence you can provide your insurance company is a professional valuation. It can help you document the details and value of your jewellery, making the process a little easier.
Many insurers also recognise it as helpful proof that you own the items. Other helpful evidence includes receipts, guarantees, warranties, bank statements, email confirmations and photos of the original items to support your case.
How often should you get your jewellery valued?
If you haven’t had your jewellery valued recently, it may be overdue – because prices don’t stand still.
You could follow the insurance sector’s recommendation of getting a valuation every 3 to 5 years1 or have your pieces assessed more frequently so your cover keeps up.
All kinds of factors, from inflation to changing demand, political changes, and the prices of precious metals and stones, can affect jewellery’s value. In 2026, you might have seen a BBC report saying that the price of gold reached a record $5,000 (or £3,659) per ounce, which is more than 60% than the year before, and silver went up by almost 150%.
If the prices of gold and silver go up a lot, but you haven’t updated the value of your jewellery or your insurance, and something happens to it, you will only be paid up to the maximum limit for an item on your policy.
HOW TO GET YOUR JEWELLERY VALUED FOR INSURANCE
To make sure your valuation meets insurance standards, you’ll need to visit a jeweller who is fully qualified to do this kind of assessment. Not every jeweller has the right training, so choosing a specialist is key.
Here’s how to find the right person:
- Check with your insurance company first. They might suggest the National Association of Jewellers (NAJ) website to find reliable jewellers and valuers. The NAJ also manages the Institute of Registered Valuers (IRV), which certifies professional jewellery valuers in the UK. Several popular jewellery stores use these experts for valuation services.
- Another independent organisation your jeweller may belong to is the Jewellery Valuers Association (JVA), covering the UK and Ireland.
- Of course, you could also go back to the retailer who sold the jewellery item to you in the first place to get it valued, but they may not be fully qualified to do it.
Qualified jewellers can create a detailed valuation2 – including with photos and descriptions – that help insurance companies offer a fair replacement for your treasured items.
No matter which route you choose, try to gather as many details you can about your jewellery to help ensure your claim gets settled fairly3.
WHY SHOULD YOU ADD YOUR JEWELLERY TO YOUR HOME INSURANCE?
To help protect your valuable jewellery, it’s a good idea to include it in your contents insurance policy, since this covers personal possessions. You can choose to get building insurance and contents insurance, separately or together.
This way, you can relax knowing your belongings are fully protected against theft, fire or damage, and that they’re properly valued so you’ll get the right payout if you ever need to make a claim.
Providing accurate valuations when adding jewellery to your contents insurance is very important, and we recommend updating them regularly – especially at renewal – to ensure your cover really shows their true value. Here are the main reasons for this:
- If you don’t have a current valuation, you may not realise you’re underinsured – meaning if the value goes up, you could end up only getting part of your claim covered by your insurer.
- You also run the risk being overinsured (if the price goes down), which means you’ll pay more for your policy than necessary.
- An insurer must only replace what can be proven, so it helps when making a claim to have a detailed valuation that proves the item’s worth.3
- To help protect your more valuable jewellery, some insurers might add a note to your policy saying that cover only applies under certain conditions, such as when the items are safely kept in a bank – and that you should have a current valuation. If these conditions aren’t met, cover will be limited to the policy’s maximum single item limit.
Learn how to value your home contents.
HOW TO ADD JEWELLERY TO YOUR HOME INSURANCE
Here’s how you can add jewellery to your home insurance:
- Get in touch with your home insurance provider and find out the limits on your current policy.
- Be sure to have your jewellery valued so you know its current replacement value and how much cover you need.
- Make sure you share all the important details with your insurer, like receipts, photos and valuation records.
- If you have any high-value jewellery or watches worth more than the single-item limit, please let your insurer know, since this might increase your annual premium.
- You might want to chat about whether you need extra insurance, like personal belongings cover, especially if you plan to take your jewellery outside your home.
WILL JEWELLERY BE COVERED BY HOME INSURANCE?
Many people assume home insurance policies will pay out for jewellery and most do, up to a point.
There are limits that can catch you out.
If your jewellery is worth more than your current policy’s single-item limit, it’s worth contacting your provider to adjust your cover and ensure your valuables are fully protected.
Your policy includes the single-item limit in your Statement of Fact. Let us know if you have any jewellery valued above the limit so we can list each piece individually on your policy for your protection. It may cost a bit more but it means you’re covered for what everything is worth.
A bigger risk is being underinsured without knowing, so to help protect your valuables, it helps to review them regularly.
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Insuring Jewellery FAQs
Does jewellery go up in value?
Jewellery can go up in value, but it can also go down. That’s why insurers recommend having your jewellery valued regularly to ensure you have the correct amount of cover.
What is a valuation?
A jewellery valuation provides an expert description of your jewellery's value from a professional appraiser or valuer for a specific purpose, such as home insurance.
What factors affect the value of my jewellery?
The price of gold, silver, and precious stones like diamonds, as well as the shape, colour, weight, and quality of the item, are factors that affect the value of your jewellery.
Do you need proof of a valuation?
Your insurance provider may need the original document or a copy of the valuation. In addition, you’ll need proof of ownership to make a claim. Evidence can include the valuation itself, but any additional evidence, such as receipts, guarantees and bank statements, will make a stronger case.
Sources
1 https://www.gvj.org.uk/about-us/faqs/public
