Jewellery is worn, and that is where this policy beats home contents insurance: loss without a break-in, without a witness and without an identifiable cause is insured here.
The calculator and the quote form below are in Dutch. Prefer to do this in English? Email info@finassverzekert. nl or call 072 - 509 24 56 and we will take it from there.
Work out for yourself what it would cost.
Enter your details; you will receive a proposal within one working day.
We compare the offerings of several insurers
An adviser checks whether the cover suits your situation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
You insure jewellery as individually described items with worldwide comprehensive cover that also includes loss. That word is the whole difference. Home contents insurance pays for theft after forced entry and little else. A ring that slips off your finger or an earring that disappears while you are out is covered nowhere there, not even up to the sub-limit for valuables on your policy schedule.
The sum insured is the agreed value, set out in a report drawn up as intended in Article 7:960 of the Dutch Civil Code. With jewellery that deserves extra attention, because the price of gold and gemstones moves while your policy schedule stands still. If the valuation expires or is out of date, you fall back on market value when a loss occurs and underinsurance arises that you only notice at the moment of the loss.
Set against that wide cover are conditions about storage and wearing. Under most policies, pieces you rarely put on belong in a safe; outside the safe there is then cover only while you are wearing them. Sentimental value is paid for nowhere: a valuer values material and craftsmanship. You can read more about this type of policy under valuables insurance.
The structure of the cover in three parts, with an overview per situation below.
The essentials
Comprehensive worldwide
Loss, theft and damage to individually described pieces.
Loss of a ring
Theft outside the home
Damage
The basis of value
Valuation
Gold and gemstone prices rise. The amount has to move with them.
Article 7:960 of the Dutch Civil Code
Every three to five years
Describe heirlooms
The condition
Storage
Safe clauses for pieces you rarely wear.
A safe with a valuables rating
Alarm
Keep the photograph and valuation separately
What is covered
Situation
Valuables
Home contents
A wedding ring lost
Yes
No
Theft from a bag
Yes
No
Theft at home during a burglary
Yes
Sometimes
A stone fallen out of its setting
Yes
No
Outside the safe when it should have been inside
No
No
Sentimental value
No
No
This overview is general in nature and is not personal advice. What is actually covered, including exclusions, limits and the excess, is set out in the policy conditions and the insurance card (verzekeringskaart) of the insurer; you receive both before you take out cover. Taking out cover without advice? Then read what execution only means for you.
Where things go wrong in practice
Four points that make the difference between a policy that pays out and one that does not.
Loss is covered, but you have to make it plausible
With a loss there are no signs of forced entry, no witness and often no exact place. So the insurer tests your account against the file: the valuation, the photographs and the circumstances you report. Make that report as soon as reasonably possible, as Article 7:941 of the Dutch Civil Code requires, and report it to the police where theft cannot be ruled out. A statement that is revised later costs you more than an incomplete first notification.
The safe clause determines when you are in fact covered
Above a certain value insurers include a safe clause. It prescribes not only that there is a safe, but also when the jewellery may be out of it: usually while you are wearing it and while you are taking it there. If a necklace is in a jewellery box in the bedroom while the clause provides otherwise, theft of it is not covered. When staying away and on holiday, watch the requirements for a hotel safe.
Revaluation is not a formality here
Gold, platinum and certified stones move with the market, while your sum insured stays where it was. Insurers therefore work with a period of validity for the valuation, often three to five years. Once it expires, the protection against underinsurance falls away and the insurer works with the market value at the time of the loss. Put the expiry date in your diary; this is the most common cause of a disappointing payment in this category.
A stone coming loose is often maintenance
If a brilliant disappears from its setting because the claws were worn, the insurer relies on wear and tear and deferred maintenance, and those are excluded. If you knock the ring hard against something and the stone comes out, there is a sudden event. Have settings checked periodically by a jeweller and keep the receipt: that is the evidence with which you avoid the argument about maintenance.
A valuation is only a valuation with the right basis of value
For protection against underinsurance, the report must be drawn up as referred to in Article 7:960 of the Dutch Civil Code, with the additional provision on value. A dealer's value statement does not always meet that requirement. The amount is then fixed for the term of the valuation. If the valuation has expired at the time of the loss, you fall back on market value.
In the event of loss or theft, the first question is whether the item existed and what it was worth. Keep the purchase invoice with the serial number, the valuation report, the box and the papers, and photograph everything from several angles. Store that digitally and not only at home; after a fire or burglary that is often the only evidence left.
What does your premium depend on?
Total valued amount. The sum of the individually described pieces on the policy schedule.
Number of pieces and how often they are worn. Jewellery worn daily runs a different risk from what is kept in the safe.
Security and safe grade. Whether there is an anchored safe with a valuables rating and a certified alarm.
Area of cover. Worldwide cover costs more than cover limited to the Netherlands or Europe.
Period of validity of the valuation. A recent valuation with an index provision is viewed more favourably than an out-of-date report.
Excess. Per event; with loss cover a different amount is often agreed.
Insurers weigh these details differently. That is where your saving is.
How we arrange it
You request a quoteWe take stock of your situation, your risk and your wishes.
We compareseveral insurers, on premium as well as conditions.
You receive a proposalWith an explanation of the differences and the exclusions.
We arrange the switchIncluding cancellation, so there is no gap in cover.
Customers rate our service on four aspects: personal service, service delivery, availability and the outcome. The reviews are collected and published by NH1816 and come from customers who have actually taken out a policy with Finass Advies B.V. or reported a claim.
My ring slipped off my finger in the sea. Will I be paid for it?
On a valuables policy with loss cover, in principle yes, provided the piece is individually described and you comply with the policy conditions. Report it at once and describe the circumstances factually. On home contents insurance this is never covered, because loss is not an insured peril there and there is also no cover of any kind away from the home.
How often do I need a new valuation?
Most insurers apply a period of three to five years for jewellery. Within that period the valuation report protects you against underinsurance. After that it does not. If the gold price has risen sharply in the meantime or you have had a piece altered, have a new valuation carried out sooner. The cost of that does not weigh against a payment at market value.
Can I insure an heirloom without a purchase invoice?
Yes, on the basis of a valuation. A specialist valuer describes the material, weight, hallmarks, stones and craftsmanship and establishes the value from that; the invoice is then not needed. What you do not get back is the provenance: the sentimental value of a piece from your grandmother is not an insurable interest. So have the piece photographed and described in detail.
Does my jewellery have to be in the safe when I am on holiday?
Almost always, and that is set out literally in the safe clause. An empty home is the classic moment for a burglary and insurers tie the cover firmly to it. If you take jewellery with you, check whether the policy imposes requirements on storage at the hotel and whether it is covered while you are travelling. In baggage you hand over, it usually is not.
Read more
Within Art on home contents or valuables insurance
Finass Verzekert is a trading name of Finass Advies B.V. We advise on and arrange non-life insurance on the basis of an objective analysis of several insurers, and receive commission for this from the insurer, which is included in the premium. You pay no separate advice fee. Before you take out cover, we establish your wishes and needs.
You will find our licence, KvK and Kifid details and our complaints procedure at the foot of every page.
