Is it necessary to get my jewellery valued before taking cover for it?
Akhila Krishnan, Hyderabad
Although it is not a must to get your jewellery valued before insuring it; you will be better off if you do so. The reason is that once the insurer has all the details of the jewellery—the weight and value of each item—in the event you invoke the policy, the jewellery is easily surveyed. In other words, furnishing the value of the jewellery makes the processing of the claim much smoother. Some insurers have come out with products that offer a blanket cover for items like jewellery. With these tailor-made covers, you needn’t identify every item of your jewellery. But there is a flipside: these covers have low ‘sum insured’ values and within the total sum insured, there’s a cap on the sum insured for each article.
