Aussie Bees – Anyone used Qreport for jewelry insurance?

posted 3 years ago in Rings
Post # 2
Member
9226 posts
Buzzing Beekeeper
  • Wedding: May 2018

Maybe check their home insurance policy, see if it would be covered under their contents insurance? Mine was automatically covered by my parents’ home insurance policy, but I think it was because it was under a certain price (can’t remember what the limit was). Is that an option? I did look into individual insurance a little but I couldn’t find much either except for Qreport, and the price seems so high! 

Car insurance is a lot less and some cars are worth a lot more!

  • This reply was modified 2 years, 7 months ago by  Jacqui90.
Post # 3
Member
641 posts
Busy bee
  • Wedding: April 2015

I got mine insured with NRMA; I think it was a little over $400/year. It is also part of a home insurance plan. We live with FI’s parents at the moment so we had to take out renter’s insurance (I think we said up to $30,000 + $10,000 in jewellery including a $5,000 value on jewellery taken out of the house).

My ring wasn’t automatically covered under FI’s parents’ home contents insurance (you need to actually specify to the insurance company and then pay an additional amount to the premium but I didn’t want to ask his parents).

Post # 5
Member
255 posts
Helper bee
  • Wedding: April 2017

Twty6:  check your insurance policy. Some of the contents insurance plans cover you for items normally expected to leave the home – mobile phones, laptops, iPads – so I think jewelry falls in that category BUT because it is over a certain amount (I think it is $2000) then you have to add it as a separate item on your insurance agreement, and it will increase your premiums.

Post # 6
Member
7412 posts
Busy Beekeeper

Twty6:  Not sure about renters insurance but it might be something you can add to the policy to have it covered. $500 sounds about right for a ring of that price. Insurance, any kind,  is expensive here. 

Post # 7
Member
641 posts
Busy bee
  • Wedding: April 2015

Twty6:  Well, we had to stipulate a dollar amount of jewellery taken out of the house (e.g. $5,000 worth) so if I were to go out wearing $5,000 worth of jewellery and it (heaven forbid) got stolen, then it would be covered. So, we may have $10,000 in jewellery at home and are insured for that amount in the home but we are insured for $5,000 of it leaving the home as well (I don’t wear all of my jewellery, you know?). This has to be on the policy though. I also have a lifetime warranty on my ring from the jeweller, so the diamond will be replaced if it falls out (I have it inspected every six months) so this acts as added insurance in my case.

Post # 8
Member
641 posts
Busy bee
  • Wedding: April 2015

Twty6:  Further to my above post… If we have to make a claim on jewellery lost while out of the house, we have to pay an excess. Also, like j_jaye said, they cover you for items normally expected to leave the home but this is added to the policy.

Post # 10
Member
7412 posts
Busy Beekeeper

itsmeetam:  That is good advice. I would also say read the policy carefully. For example most people don’t realise that big LCD or plasma TV’s are not included in your general insurance and need to be listed as special items.

Post # 11
Member
1 posts
Wannabee

Twty6:  Hi I saw the post and just thought I might add a few things that some of you may or may not know.

I will start off by saying Iam the CEO of QReport and have 20 years of jewellery insurance experience. The really important feature of any policy is what happens if you have a claim. So the questions you need to ask when you do comparisons with a home content policy against a jewellery standalone policy are.

if your ring was insured for $11k and you lost it what would they pay out? unfortunatley 99% of insurers will try and buy the ring for you and negotiate the lowest price they can which could be $7k.

Are you guarnateed that you can return to your original jeweller if you have a claim? Again most companies will try and send you to their preffered jeweller where they get a discount,I always say why would you want to go to a total  stranger who may not give you the same quality you are used too.

Finally are you covered on your honeymoon or overseas trips?

most have very limited cover if any.

1Our policy is an agreed value policy, so you insure for 11K and we pay 11K and in some cases more.

We guarantee to always allow you to go back to your original jeweller, and your policy is World Wide loss or damage.

I hope this wasnt to sales like and apologise if it came across like that, everyone at Q Report are from a jewllery background, myself 3 generations and we luv jewellery, the Q Report may not be right for you but if you choose to use it I guarnatee you wont be let down.

 

Post # 12
Member
235 posts
Helper bee
  • Wedding: January 2015

I’ve got my ring with them, it was less than adding it to my renters insurance plus you get a booklet detailing the ring specifications which is nice to have. The policy is very clear on what it covers so I think it’s worth it for the peace of mind. I probably won’t keep it insured once we’re married and I have a band as I guess in my mind it’s done its job so if I lose it its not going to be as bad? 

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