We at diamondsdubai.ae, provide valuable gold and diamonds jewellery to varied type of people living in different parts of the world. We are very much concerned that our clients are obviously taking good care of their precious gems and jewellery and have gradually attached a sentimental value towards their jewellery. It may either be there grandmothers 100 years old ring remade from our store or perhaps a engagement ring specifically handcrafted for the most important memory that is expected for life long.
You may request our sales executives to either refer the best insurance company or recommendations from close family and friends would always be the best option. We are dealing from past second generations and would defiantly help by going out of the way in repairing/replacing any small diamonds that may have misplaced or fallen in due course, however the bigger diamonds that are above 0.50 carats which would be quite expensive would be a matter of concern and hence we have formulated the below steps for successful jewellery insurance.
We would recommend the following important steps that shall be taken after buying any jewellery from us or anywhere else :-
- Choosing the best insurance provider :- There are several websites depending upon your country of origin. Suppose in United Arab Emirates, you can visit profound websites; for example: – insurancemarket.ae or “AXA” insurance, and “AIG” insurance to attain premium quotes for having all your jewellery insured. In most cases after discussing with our close clients, we have learned that they insure their jewellery together with other assets, property car, house, and jewellery under one umbrella.
- Type of policy :- we have experienced such unfortunate circumstances, where the diamond in a ring had either fallen or got a small nick/crack after wearing it for few or several months, this could be due to handling or simply wear and tear while wearing it everyday or even getting it exposed to chemicals (perfume, detergents etc) or getting it knocked while driving to nearest window glass. If the insurance policy also covers such damages during normal wear and tear, or suppose they term it as “All Risk” policy in United Arab Emirates or United Kingdom.
- Territory wise coverage :- It would be important to cover your jewellery while it is kept inside your personal house or you are wearing it outside, some insurance companies may not provide coverage for jewellery taken while traveling outside on holiday, hence it shall be taken into consideration while choosing the right policy for yourself and your valuables.
- Safe and Alarm system requirements :- it would be expected that the insurance company may require you to have a safe and door or window breaker alarm system activated while undergoing an insurance policy for your assets and valuables inside the house or office premises
- Exclusions to your policy :- make sure your jewellery insurance policy have through and transparent policy schedule for all inclusions and exclusions that would not discourage your future claims in case of uncertainty. Usually every insurance company excludes natural calamity or riots etc. And also, in case of theft from houseboy, servants, maids shall be included in the policy.
- Updating your policy regularly & valuating :- it is recommended to regularly valuate your jewellery with your jeweller, so as to update the same value with insurance provider. Due to fluctuating gold Prices and diamond prices regularly, it is inevitable to price the products to a fixed value throughout a given time Frame.
- Claim procedures :- Also you may refer to your family and friends for the best company in your city which would have a simple and easy protocol in an event of requesting a claim. Usually local companies which do not have international exposure, tend to prolong the claim procedure to several days or even months.
- Replacement for lost/stolen items :- it would be important to also discuss with and attain a written confirmation from the insurance provider weather they would provide the claim amount in cash/bank transfer or would also provide an option to get the same jewellery replaced from the same jeweller and the insurance company may directly pay on their behalf for replacement of lost/stolen jewellery.