Planning on popping the question overseas? Got some bling burning its way through your back pocket? You may want to think twice before bringing that bauble abroad unless it’s sufficiently insured.
Did you know many insurers specifically rule out cover for items of high-value jewellery? It may come as quite a surprise to those planning a paradise proposal that many travel insurance policies exclude cover for jewellery or will only cover such items for a nominal sum.
If you’re planning to propose overseas with a particularly expensive engagement ring, make sure you do your research and find a provider that will insure the ring to its full value.
which insurers will cover an engagement ring?
The following travel insurers provide the highest cover for jewellery on the market:
|Insurer||Unspecified per item limits||High Value Cover||Conditions|
No cover for items being checked into the hold of any transport carrier, unless you obtain letter from that carrier requiring you to transport such items in the cargo hold
|AA Travel||$1,500||$10,000||No cover for jewellery except when at the time of the loss or damage the item is being worn by you|
|Columbus Direct||$750||N/A||No high value item cover for jewellery available|
|Covermore||$750||$10,000||A maximum limit of $2,000 applies to any items left during the day in the boot of a locked motor vehicle. No cover for any loss or damage to jewellery placed in the care of a transport provider, unless security regulations prevent you from keeping the valuables with you|
|DuInsure||$750||N/A||No additional high value cover for jewellery. No cover for any loss or damage to jewellery placed in the care of a transport provider, unless security regulations prevent you from keeping the valuables with you|
|House of Travel||$1,500||$5,000||Watches are not considered to be jewellery for the purpose of this insurance. Jewellery is covered only when worn or carried on your person, or stolen from a fixed locked safe following forcible entry|
|NZ Travel Insurance||$750||$4,000||No cover for jewellery except when at the time of the loss or damage the item is being worn by you|
|Southern Cross||$2,500||$10,000||$15,000 total high value limit per policy. No cover for any loss or damage to jewellery placed in the care of a transport provider; jewellery left unattended in a vehicle; or items left in accomodation not within a safe|
|State||$1,500||$10,000||Only $500 unspecified items cover for domestic trips. $25,000 total high value limit per policy for international policies|
|TID||$700||$4,000||No cover for items being checked into the hold of any transport carrier or left unsupervised in a motor vehicle|
|TINZ||$1,000||N/A||No additional high value cover for jewellery|
|Warehouse Money||$700||$4,000||$10,000 total high value limit per policy. No cover for items being checked into the hold of any transport carrier or left unsupervised in a motor vehicle|
|Worldcare||$1,500||$10,000||$20,000 total high value limit per policy. If the value of the items exceeds this amount, they may increase if you speak with them.|
Don't get stung by depreciationIf you don’t specify your high value items, you could be subject to depreciation and may only be able to claim back a set amount regardless of your total luggage cover. It’s essential for travellers to check the sub-limits of their policies to avoid getting caught out at claim time.
If the above limits won’t suffice you could also look at insuring your engagement ring under your home and contents policy. In doing so, it’s essential that you specify the item on your policy and double check that you are able to travel with it overseas. Another option is to consider a standalone jewellery insurer.
Panic free proposal tips:
Popping the question can be a lifechanging, course-altering moment, or a sweaty, panic-ridden one you’d rather forget. However with the right preparation and a bit of forward planning you can carry off a destination proposal without a hitch!
- Protect your bling: It’s the stuff of nightmares. Packing your precious pearl, only to realise it’s vanished somewhere between customs and check-in. Before you whisk away with a sizable diamond in your back pocket, make sure you have it insured.
-Safety first: Find out in advance whether your hotel can provide a safe to store your precious bauble.
-Pack wise: Store the engagement ring in your carry-on luggage as checking it in your luggage can be risky and draw unwanted attention. Remember to remove any liquids or electronics from your bag to minimise attention.
- Bring proof of purchase: Foreign customs officials may want to see any official paperwork or proof of purchase of the ring.
-Store smart: Store your ring safely in an unwrapped jewellery box as customs may want to look inside. Attach a note along the lines of ‘Engagement ring enclosed, please be discreet.’ Place it in the depth of your carry-on luggage to ward off your significant other’s curiosity.
-Location, location, location: While it doesn’t need to be grand or OTT, putting some thought into a great proposal site can make all the difference. Make it a moment to remember by popping the question in a setting close to your partner’s heart or during an activity you both enjoy.
-Fake it: If the thought of getting ‘sprung’ by a customs agent or having the ring stolen is all too much, consider bringing along some surrogate sparkle to use temporarily.
Got the ring; then INSURE YOUR BLING!
Remember with travel insurance, there is definitely no ‘one size fits all’ approach. Policies differ greatly and some will offer you adequate cover for your belongings while others won’t. Take this into account that not every policy will cover items of high value as standard.