What Actually Happens When You Make a Jewellery Insurance Claim

When a piece of jewellery is lost or damaged, most people assume the insurance process will simply replace what they had.

In reality, that is not always what happens.

This is something I have seen many times over the years at the bench. Not occasionally, but consistently enough that it is worth explaining how the process works, and where people can get caught out.

How a jewellery insurance claim usually works

In New Zealand, when you make a jewellery insurance claim, the process often looks like this:

• You lodge a claim with your insurance company
• The insurer appoints a jewellery assessor to manage the replacement process
• That assessor gathers quotes from jewellers to replace the piece
• One of those quotes is accepted and the replacement is made

On the surface, this seems straightforward.

The decision can be influenced by cost, rather than how the original piece was made. And that matters more than most people realise.

Processes can vary between insurers and policies, but this is a common structure used within the industry.

Not all jewellery is made the same way

There are different ways to create a piece of jewellery.

Two of the most common are:

Handcrafted (handmade) jewellery
This is made by hand at the bench. Each piece is built, shaped, and finished individually. There are small decisions made throughout the process that give the piece its character, balance, and strength.

CAD and cast jewellery
This is designed digitally on a computer, then produced using a casting process. It allows for efficient reproduction and is widely used across the industry.

Both methods have their place.

But they are not the same thing.

And replacing one with the other is not a like for like replacement.

Where people get caught out

During a jewellery insurance claim, clients are not always clearly informed:

• how their replacement will be made
• whether it will be handcrafted or cast
• that they can question or compare quotes
• that they may be able to choose their own jeweller

In some cases, a replacement is approved before these questions are asked.

From the outside, the new piece may look similar.

But the way it has been made, and the quality of that making, can be very different from the original.

By that point, the intent of the original piece has already been lost.

What does “like for like” actually mean?

Most insurance policies refer to replacing an item with a “like for like” equivalent.

For jewellery, that should include more than just:

• metal type
• gemstone size and quality
• overall appearance

It should also include how the piece was made.

If your original ring was handcrafted, a cast replica is not truly like for like.

What you can ask during a claim

If you ever find yourself going through a jewellery insurance claim, it is reasonable to ask:

• How will this piece be made
• Will it be handcrafted or CAD and cast
• Is this a true like for like replacement
• Can I choose my own jeweller
• Can I see and compare the quotes

You are allowed to understand what is being offered before you accept it.

What to do before anything goes wrong

The best time to protect yourself is before you ever need to make a claim.

A few simple things can make a significant difference:

• Keep photos of your piece from different angles
• Keep any emails or notes from the design process
• Ensure your valuation describes the piece clearly, including how it was made if possible
• Know who made your piece and how to contact them

These details help ensure that, if something does happen, the piece can be remade properly.

A final thought from the bench

Jewellery is not just a product.

It carries story, memory, and intent. It is often made to mark something significant, and it is designed to be worn for a lifetime.

If it ever needs to be remade, it deserves the same care in its making as it did the first time.

If you are ever unsure during a jewellery insurance claim, you are welcome to reach out. I am always happy to look over a proposal and help you understand what is being offered.

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