Jewellery care is about more than keeping pieces looking their best; it helps protect items that often hold significant sentimental and financial value.

Over time, both condition and replacement cost can change gradually. Without regular checks and up-to-date valuations, high-value jewellery may become underinsured without the owner realising.

How jewellery can change over time

Everyday wear can gradually affect jewellery. Settings may loosen, clasps weaken, stones shift and metals react to chemicals, often without being noticed until a stone is lost, a clasp fails or the piece is damaged.

This is important because insurance usually assumes an item’s condition is unchanged since its last valuation. If any deterioration has not been recorded, the settlement may differ from what is expected when a claim is made.

Regular jewellery care helps:

  • Reduce avoidable risk
  • Keep condition aligned with insurance expectations
  • Prevent surprises at claim stage

“Jewellery care isn't about keeping pieces pristine, it's about reducing avoidable risk.”
— Francesca Orme, Doerr Dallas Valuations

The necessity of regular valuations

The jewellery market moves quickly. Rising material costs, scarcity of certain stones and increased artisan labour prices mean that a piece bought even a few years ago may now cost significantly more to replace.

For luxury watches and bespoke pieces, relying on original purchase prices or auction values may not give an accurate picture. Replacement cost, not resale value, is what matters for insurance.

This is why many experts recommend updating valuations at least every three years. “Because we see jewellery sales and valuations across the market throughout the year, we have a strong view of trends and price movements across different categories.”
— Jennifer Tonkin, Bonhams

Underinsurance - a silent risk

Underinsurance rarely results from one missed detail. It usually develops gradually through:

  • General wear and tear
  • Outdated valuations
  • Missing records or documentation
  • Changes in market values
  • Assumptions about condition

This risk can be greater for households with inherited, gifted or long-held family jewellery.

Regular care and current valuations help ensure cover reflects the true cost of repair or replacement.

“Insurance assumes jewellery remains in comparable condition unless documented otherwise. If a piece has deteriorated over time, that gap often only becomes apparent when replacement is required.”— Francesca Orme, Doerr Dallas Valuations

Protection for high value jewellery

NFU Mutual Bespoke Home Insurance is designed for customers with high‑value possessions that require more specialist protection.

It offers:

  • Worldwide cover for high‑value items
  • Protection tailored around your collection
  • Support from trusted valuation partners
  • Confidence that your cover reflects real world replacement costs

This ensures your protection performs exactly as expected when it’s needed most.

To find out more about NFU Mutual Bespoke Insurance call 0808 231 2820, or search: NFU Mutual Bespoke Home Insurance

The National Farmers Union Mutual Insurance Society Limited (No.111982). Registered in England. Registered office: Tiddington Road, Stratford-upon-Avon, Warwickshire CV37 7BJ. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. A member of the Association of British Insurers.