From jewellery and artwork to coins and medals, discover how to protect your precious items with valuables insurance.
Here’s what you need to know about whether our Bronze, Silver or Gold Home Insurance policies are right for you.
What counts as a valuable?
The definition of a valuable varies across insurance providers and it doesn’t just mean ‘expensive’.
Household items or white goods that you would typically expect to find in any home are not necessarily considered valuables. And, although they can be expensive to buy, gadgets are not always considered valuables.
Our Bronze, Silver and Gold Home Insurance considers the following to be 'valuables':
What is the difference between valuables and personal possessions?
Valuables and personal possessions may sound similar but many insurance providers treat them differently.
Are my valuables covered outside the home?
You like to wear expensive jewellery on special occasions or take your binoculars hiking. If so, it’s worth knowing that many standard contents insurance policies won’t cover items outside the home without additional cover. Even if your items are insured, your provider will usually set a limit on cover for longer trips away from home.
And if you have young adults heading to university, we offer a student insurance add-on.
With our Specialist Home Insurance, you can have complete peace of mind with your personal possessions covered anywhere in the world.
What is a single item limit?
A single item limit is the maximum an insurance provider will pay out for an individual item when you make a claim. The single item could be a pair of earrings or a set of coins. So bear this in mind when adding up the cost of your valuables against your maximum claim limit.
The maximum claim limit (or replacement cost of total valuables) is the total sum your insurance provider will pay for all of the valuables in your home.
For John Lewis Home Insurance, the single article limit for unspecified items with our Bronze, Silver and Gold cover levels is £3,000. For specified valuables, the individual limit is £20,000.
Our Specialist cover level has a single item limit of £10,000 for jewellery and watches and a £25,000 single item limit for art and antiques. However, if you require higher single article limits, these can be considered if you speak to your underwriter. The replacement cost of total valuables is bespoke.
Why do I need to declare expensive valuables?
If you don’t declare expensive valuables you could end up losing money when you make a claim. For example, our single article limit of £3,000 across Bronze, Silver and Gold insurance policies wouldn’t cover the full replacement cost of a £4,000 engagement ring. By telling us about items that cost more than our single article limit we can make sure you’re covered up to £20,000 per declared valuable.
In some cases, your expensive valuables could tip the cost of all items in your home above your replacement cost of total valuables. If this is the case, you might not receive the payout you expected.
If you are unsure about the value of an expensive or notable item:
Get the item valued
Let your insurance provider know the value
Upgrade your level of valuables cover, if necessary
How much cover do I need?
To get the right level of cover, you need to know:
The current value of any expensive or notable items
The total cost of all valuables
Your insurance provider’s maximum claim limit for valuables
If you’re unsure about the value of your items, get them valued by a professional. Values can fluctuate depending on trends and buyer appetite. So it's wise to have your most expensive items valued every 3-5 years. In fact, this could even be a condition of your insurance policy.
|Replacement cost of total valuables||£10,000||£20,000||£40,000||Bespoke|
|Valuables single article limit (unspecified items)||£3,000||£3,000||£3,000||Bespoke|
|Valuables single article limit (specified items)||£20,000||£20,000||£20,000||Bespoke|
*Policy limits apply, including single item and total valuables limits.
Do I need specialist cover for expensive valuables?
Specialist policies are designed to cover your more expensive valuables. Our Specialist Home Insurance is for high-value homes and contents. It has a single article limit of £10,000 for jewellery and watches and £25,000 for art and antiques. Higher single article limits can be considered though. The cover has a bespoke maximum payout for total valuables to suit your needs.
You might find that a £3,000 single article limit with our Bronze, Silver or Gold cover levels is enough to cover your most expensive unspecified items. For more expensive items, you could declare them for cover up to £20,000 each.
If you have a large number of valuables priced at £3,000 or below, you might still benefit from our Silver or Gold level insurance to cover the total cost of all your valuables. The maximum payout for Silver level customers is £20,000 and £40,000 for Gold level customers.
If your valuables aren’t stored safely you might not be able to make a claim on your valuables insurance. For example, you may need to keep specific valuables in a safe or a damp-proof box to make sure your cover remains valid.
How to get valuables cover
When covering your valuables with John Lewis, the information we need to ensure your valuables are covered depends on your level of cover.
For our Bronze, Silver and Gold Insurance we’ll ask for:
Details about you and your home
Professional valuations or original purchase receipts (less than 5 years old) for any items valued at £5,000 or more
For our Specialist Home Insurance, we’ll ask for:
Details about you and your home
Professional valuations or original purchase receipts for art and antiques valued at £25,000 or more
Professional valuations for jewellery and watches valued at £10,000 or more
We can process claims more quickly if you can provide photographs of the valuables and a full inventory of everything that has been lost, stolen or damaged. To be safe, you may want to complete your inventory and take your photographs as soon as you can.
Remember to update us when you buy anything new or make additions to your home that could increase the overall value of your contents. As a general rule of thumb, you could plan to update us on the value of your possessions around birthdays and Christmas and if you get engaged. Keep this in mind, too, if you inherit any valuable items, such as jewellery.
John Lewis Finance, John Lewis Home Insurance and John Lewis & Partners are all trading names of John Lewis plc. Registered office: 171 Victoria Street, London SW1E 5NN. Registered in England and Wales (Registered Company Number 233462). John Lewis plc is an appointed representative of Munich Re Digital Partners Limited, a company authorised and regulated by the Financial Conduct Authority to carry on insurance distribution activities.
John Lewis Finance, John Lewis Insurance and John Lewis & Partners are all trading names of John Lewis plc. Registered office: 171 Victoria Street, London SW1E 5NN. Registered in England and Wales (Registered Company Number 233462). John Lewis plc is an appointed representative (Financial Conduct Authority no. 416011) of Covea Insurance plc which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (registration no. 202277). John Lewis Specialist Home Insurance is underwritten by Covea Insurance plc. Registered Office: A&B Mills, Dean Clough, Halifax, HX3 5AX. Registered in England and Wales (registration no. 613259).