Jewellery & Valuables All Risk Insurance
Cover Your Jewellery Wherever You Wear It
For many Indian families, jewellery is both savings and heirloom. It is worn at weddings, carried between homes and bank lockers, and packed for travel, which is exactly when losses happen. Jewellery and valuables all risk insurance covers gold, diamond and silver jewellery, luxury watches and similar items against theft, loss and accidental damage, at home and away from it. MILES helps you get items valued correctly, list them in the schedule and choose an insurer whose territorial limits match where you actually go.
What Jewellery All Risk Insurance Covers
Theft And Burglary
Loss of insured jewellery from your home, hotel room or vehicle through theft, burglary or robbery.
Accidental Loss
Items lost or damaged by accident, such as a stone falling out or a bangle breaking, subject to wording.
Cover While Travelling
Protection anywhere in India, with worldwide cover available from many insurers for an extra premium.
Bank Locker Option
Items kept mostly in a bank locker can be insured at a lower rate, with cover when taken out.
Watches And Valuables
Luxury watches, pens, silverware and similar personal valuables can be listed alongside jewellery.
Agreed Valuations
Items insured on current valuation certificates, which makes the claim amount clearer and faster to settle.
What is jewellery all risk insurance?
Jewellery and valuables all risk insurance is a policy that covers personal jewellery, watches and similar valuables against theft, loss and accidental damage, at home and while being worn or carried. Unlike a basic householder policy, which usually covers valuables only inside the insured home, all risk cover follows the items wherever they go within the agreed territory.
It is part of our specialty and other insurance range and is often arranged as a section of a home insurance package or as a standalone schedule for higher-value collections.
What it covers
- Gold, platinum, diamond, silver and gemstone jewellery listed in the schedule.
- Luxury watches, fountain pens, silverware and other personal valuables you choose to declare.
- Theft, burglary, robbery and snatching, at home, in transit or while travelling.
- Accidental loss or damage, such as a stone falling from its setting, depending on the insurer’s wording.
- Fire, flood and other insured perils while the items are at home.
Where the cover applies
Most Indian policies cover items anywhere in India. Worldwide cover is available from many insurers at an extra premium, which is worth considering if you wear family jewellery at weddings abroad. If items stay mostly in a bank locker, insurers may offer a lower rate with cover whenever they are withdrawn.
What is not covered
- Wear and tear, gradual deterioration, and scratching or denting.
- Damage during cleaning, repair or restringing by a jeweller.
- Mysterious disappearance, meaning the item is simply missing with no identifiable incident, with many insurers.
- Items left unattended in a vehicle or public place.
- Confiscation by customs or other authorities.
- Items not listed in the schedule above any single-article limit.
Who needs it
Families with significant jewellery at home, brides and their families during the wedding season, people who wear expensive watches daily, collectors of antique or heirloom pieces, and anyone who regularly moves jewellery between home, locker and events. It is particularly relevant for HNI families, where a collection can be worth more than the home contents.
How the sum insured is decided
Each significant item is listed with its value. The most reliable basis is a recent valuation certificate from a registered valuer or a reputable jeweller, with a description, weight, purity, stone details and photographs. Many insurers set a single-article limit, above which items must be named individually.
Gold prices move, so a valuation that was fair three years ago may leave you underinsured today. We suggest reviewing the schedule every year, and after any major purchase. If the sum insured is lower than the true value, the insurer can reduce the claim proportionately.
How the premium is decided
- Total value and the value of the most expensive single items.
- Where items are usually kept: at home in a safe, at home without a safe, or in a bank locker.
- Geographic scope, India only or worldwide.
- Home security, including safes, alarms and staff arrangements.
- Your past claims.
How MILES helps
- Prepare the schedule. We help you organise valuations, photographs and descriptions so each item is clearly identifiable.
- Check values and limits. We flag items above single-article limits and prompt revaluation when gold prices move sharply.
- Compare insurers. We compare territorial scope, locker terms, mysterious disappearance and deductibles across 16+ insurers.
- Keep it discreet. Your inventory is handled confidentially and shared only with the insurer underwriting it.
- Support claims. Our claims team guides you through the FIR, surveyor visit and settlement.
How a claim works
- Report theft or robbery to the police immediately and obtain the FIR.
- Inform MILES or the insurer within the time stated in the policy.
- Provide the valuation certificate, invoice, photographs and schedule entry for the item.
- Answer the surveyor’s questions on how and where the loss happened.
- The insurer settles by payment, repair or replacement, as the policy allows, less any deductible.
Cover, exclusions and premiums depend on the insurer’s policy wording and underwriting. MILES Insurance Brokers Pvt. Ltd. is an IRDAI-licensed direct broker (Life & General, Reg. No. 954); the insurance is issued by the insurer. Insurance is the subject matter of solicitation.