Insurance

After going through the stress and emotional upheaval of losing or damaging your jewellery, you need the peace of mind that comes with knowing that you have the insurance cover you need.

The Jewelsure Repair and Replacement Insurance Policy

We have recognised a need for our members to be properly insured, as many of the insurance details that we are provided with prove to be inadequate or too restrictive. Due to our unique distribution and the group purchasing power of our members, we have been able to negotiate preferential terms and favourable rates and can offer you a comprehensive insurance product that provides you with the protection that you deserve.

The Insurance

The Jewelsure Repair and Replacement Insurance Policy offers:

 

  1. 24 hours per day, 365 days per year  cover,
  2. Worldwide protection,
  3. Repairing or replacing your item with like for like components,
  4. The ability to add additional items of jewellery to your Jewelsure Repair and Replacement Insurance Policy,
  5. Valuation protection, i.e. Jewelsure revalues all items on its system each month. If the value increases, you are covered during the policy period for the increased amount, and
  6. A simple and expedient claims service.

How does this differ from other similar insurance policies?

There are a number of differences between our policy and standard household policies or other jewellery insurance policies. For example:

  1. You may only be covered at home, or within the State that you live, or Australia,
    • Please note that even if you have global cover under your household policy, there is often a time period limitation for the time that you may be out of Australia, i.e. trips not lasting more than 14 days.
  2. You may have a limit on the value for each item – quite often the maximum limit is as low as $500 per item,
  3. You may have a limit on the value for your entire collection of jewellery – quite often the maximum limit is as low as $1,000 per collection,
  4. Applicable excesses are invariably $100, $250 or more,
  5. You may be forced to go to one of the insurer’s preferred suppliers – Jewelsure allows you to go to your preferred Jewelsure approved jeweller,
  6. Insurers suppliers may try and replace the precious metals or stones with inferior products in the event of a claim, and
  7. Cash offers from an insurer are invariably lower than the actual amount of the insurance.

The Insurer

Certain Underwriters at Lloyd’s, One Lime Street, London EC3M 7HA

Quantum Underwriting Agencies Pty Ltd (Quantum) ABN 68 131 910 542 is authorised to quote, bind and issue Certificates of Insurance under a Binding Authority Agreement (Binder) granted to Quantum Underwriting Agencies Pty Ltd by Certain Underwriters at Lloyd’s. When we act under a binder or agency we will be acting as the agent of the insurer. Quantum is a Corporate Authorised Representative (AR No 328372) of Quantum Insurance Holdings Pty Ltd ABN 71 163 019 485 AFS License No: 451134.

 

Established in 2004 Quantum Underwriting Agencies has grown to become the largest, specialist ‘Specie’ underwriting agency in the southern hemisphere by premium volume written. Directors Alex Thornton and Peter Streames worked in Lloyd’s for over 20 years each before moving to Australia and have a combined 70 years specialising in Fine Art & Jewellery. Quantum writes Specie business throughout Australia, New Zealand and the Asia Pacific region

Should you have any queries, questions or require an insurance quotation for your item(s) of jewellery please contact us on either of the following:

Phone: 1300 974 095
Email: reception@qua.net.au

Please be advised that the information provided is to be regarded as general advice. When we provide advice, we have not considered your objectives, financial situation or needs. General advice is not personal advice. We recommend that you consider the suitability of this general advice, in respect of your objectives, financial situation and needs before acting on it. You should obtain and consider the relevant product disclosure statement before making any decision to purchase this financial product.

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