Burglars Targeting Gold jewellery – are your Special Pieces Safely Insured?

In recent months there has been a rise in targeted burglaries specifically aimed at the theft of gold jewellery.  With gold values being at a record high, gold jewellery has never been more attractive to thieves; there are even reports of burglars using metal detectors to target family heirlooms.  With this worry looming over every jewellery owner, it’s time to ensure that your precious pieces are properly insured.  Ask your local independent jeweller to carry out a full valuation of your items and make sure your insurance covers them correctly. 

Who is being targeted and what for? 

Jewellery thieves are targeting anyone whom they believe to have collections of superior gold jewellery. Unfortunately, Asian families are particularly vulnerable at the moment, as, according to the Metropolitan Police, they are disproportionately being targeted for their high quality gold. Asian households account for 24 per cent of all burglaries whereby jewellery was taken, and for 16 per cent of all repeat burglaries.  

It is not unusual for Asian families to have large quantities of Indian gold which may have been handed down through the generations, and thieves are aware of its quality and value.  Police are warning families to be particularly vigilant during Asian festivities and family celebrations, when some communities bring large collections of family jewellery together to celebrate. It’s important therefore to make sure that your jewellery is properly protected, and a valuation at a local jewellery shop is often the first step towards keeping your pieces safe. 

How can you keep your jewellery safe? 

Police are advising jewellery owners that one of the easiest measures to keep your jewellery safe – or at least reunite it with you, should the worst happen – is to use a specialist property marking solution on your pieces.   

A number of companies produce unique identifying markers which are then registered to the piece’s owner. The solution is invisible to the naked eye, only being visible under UV light, so it does not affect a piece’s appearance or value.  

It’s also important to have your pieces adequately insured; household insurance doesn’t always cover the full value of pieces, and you may need to either expressly declare certain high-value items on your household insurance, or take out specific jewellery insurance.  Either way, you are likely to need a valuation, which can be carried out by a local jeweller.  

What do you need to do to satisfy your insurance criteria? 

When insuring your pieces, you’ll often find that you need to satisfy certain criteria.  This may include having your jewellery valued, which can be undertaken by your local independent jeweller.  This will ensure that you are insuring your piece for the correct value, should the worst happen; of course, it’s awful losing a treasured piece of jewellery due to the sentimentality attached to it, but it would be worse to have the double blow of not being insured to the full value.   

Your pieces should also be documented photographically so that pieces can be recreated if necessary; Asian jewellery in particular is often highly individual and has usually been passed down from generation to generation, so it’s important that the piece can be recreated if necessary.  It’s also important to check any special terms of your insurance policy – for example, do you need to keep your pieces in a safe or bank when they’re not being worn?  With jewellery thieves being so specific in targeting gold pieces, it’s important that your special items are adequately insured, and your local independent jeweller can help you protect your property.

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Source: Metropolitan Police: http://content.met.police.uk/News/MPS-launch-operation-to-target-gold-crime-across-the-capital/1400019851427/1257246741786 , last viewed 06/10/2013.

Jewellery Valuations: The benefits and what you need to know

Jewellery is often amongst the most valuable and sentimental of a person’s possessions, and therefore it’s important to know how much it is worth for insurance purposes. Obviously, we all hope that no harm will come to our precious possessions, and an insurance premium is one of those things that you always trust will be a waste of money in the hope that you’ll never have to use it, but it’s better to be safe than sorry. And this is where your local independent jeweller can come to your rescue: a professional jewellery valuation carried out in a local jewellery shop will help you to be fully protected against loss or theft and make insurance claims quick and simple.

If the worst does happen, most insurance companies will ask for proof of ownership and a professional valuation to prove how much your treasured items were worth. They will also often ask for good quality photographs of the items and detailed descriptions. By asking a local jeweller to carry out a professional valuation of your jewellery, you will receive all of the above and more. During a valuation by your local jeweller, your watches and jewellery will be carefully examined and a detailed written report will be compiled, noting any distinguishing features, as well as documenting your items photographically, to provide you with a legal document fit for insurance purposes. Through the valuation from your local jewellery shop, you will be able to prove the value of your pieces for your insurer, and if any stolen items are recovered by the police, you will also have evidence that you are the rightful owner.

Lots of your items can also be SafeMarked by your local jewellery shop. This is a tiny, discreet mark which your local jeweller can apply in the same way as a hallmark would be applied. The SafeMark is then permanently recorded in a secure national database, giving you absolute proof that you are the owner. This means that if your jewellery is ever lost or stolen, by notifying SafeGuard the details will be put onto a constantly updated register, and if your jewellery is recovered, the police will be able to check the SafeMark against the register. Therefore, it’s definitely worth asking your local independent jeweller about this service!

Your local jewellery shop will either charge a fixed fee for the valuation, or a percentage of the value of the piece itself, so it’s important to find out up front how your local jeweller intends to charge you. Either way, however, your local independent jeweller will give excellent customer service and attention to detail, and the valuation fee will be a small price to pay if the worst does happen.