How do I insure my jewellery in NZ, and when do I need to specify it?

Written by Henry Smith · Reviewed by Smiths Insurance & KiwiSaver, licensed Financial Advice Provider (FSP712931) · Updated 2026-10-07 · Reviewed quarterly, when the underlying data is restated.

General information, not advice on your situation. Buying through Tower's online quote is direct, without advice. QuoteHub is a Tower partner and Smiths Insurance & KiwiSaver may receive a commission from Tower.

Yes, a New Zealand contents policy normally covers jewellery and watches, but only up to a limit for any one piece and a second limit for all your unspecified jewellery in a single claim. On Tower Insurance's Standard level, for example, those limits are $1,000 per item and $5,000 per claim (Tower wording). A piece worth more than the per-item limit is only covered above it if it is specified, which means naming it on your certificate for a higher amount. Without that, the gap between the limit and the replacement price is what you would carry yourself.

Is jewellery covered by contents insurance?

Jewellery sits inside your contents insurance, not under a separate policy. Tower's wording lists "jewellery including watches" under personal effects, next to clothing, cosmetics and prescription glasses (Tower wording). It pays for sudden and accidental physical loss or damage, which covers theft in a burglary, a stone knocked out of its setting or a ring that goes down a drain (Tower wording).

House insurance is the building cover and does not insure what you own, so see home and contents insurance for how the two fit together. Other New Zealand insurers sell contents cover too, and the checks on this page work on any wording.

The two limits that decide your payout

The first limit is the most paid for any one item or set, such as a pair of earrings. The second is the most paid for all your unspecified jewellery in one claim, which matters if a burglar takes the whole jewellery box. Tower sets both by contents level.

Here is how that plays out for a ring that would cost $4,000 to replace. Unspecified, Standard pays up to $1,000 (Tower wording), Plus pays up to $2,500 (Tower wording), and Premium pays it in full because $4,000 is under its $10,000 per-item limit (Tower wording). On Standard or Plus, the shortfall is yours unless the ring is specified.

The total limit works the same way. If you own six pieces that would each cost $900 to replace, no single piece is over the Standard per-item limit of $1,000, but all six together are above the $5,000 total, so a burglary that takes the lot is capped at $5,000 (Tower wording). Specifying is for items over the per-item limit (Tower wording), so for lots of smaller pieces the total limit set by each contents level is the figure that decides the payout, not specifying. The insurer can tell you how it would treat your own collection.

Specified jewellery: how it works

An unspecified piece is covered up to the standard limits. A specified piece is one you have asked the insurer to cover for a higher, named amount, which then appears on your certificate of insurance. Tower describes it this way: if an item is worth more than the policy limit, you tell Tower so it can be fully covered, and it adjusts your premium for the extra risk (Tower).

Three details from the wording are easy to miss:

• The insurer has to agree. Tower says "if we agree to cover the item" the higher limit is shown on your certificate and you pay an additional premium (Tower wording).
• It sits on top of your contents sum insured. Specified items are in addition to the sum insured, so a specified ring does not use up the amount you set for furniture and clothes (Tower wording).
• The threshold follows your level. Jewellery can be specified when it is over $1,000 on Standard, over $2,500 on Plus and over $10,000 on Premium (Tower wording, Standard, Plus, Premium).

The cost depends on the piece and the insurer, and the figure comes from the insurer once it agrees to cover the item.

Which pieces to specify

Run down your jewellery box and check each piece against your level's per-item limit.

Loose stones, gold bars and what cannot be specified

Not everything can be lifted above the standard limits. Tower's wording lists items you cannot specify: documents for more than $1,200, gold or silver bars, ingots or bullion for more than $250, money for more than $250, and precious stones for more than $250 (Tower wording, Standard). The limit for money, bars and precious stones is $250 on Standard, $500 on Plus and $1,000 on Premium (Tower wording, Standard, Plus, Premium).

The practical point is the difference between a stone set in a ring and a loose stone in an envelope. A mounted stone is part of a piece of jewellery, while a loose stone falls under the lower limit. If you hold loose diamonds or bullion as an investment, a standard contents policy is unlikely to be the right home for them, so an insurer that handles that kind of asset is the place to ask about them.

Away from home, overseas and empty houses

Jewellery is made to be worn, so where the policy applies matters. Tower's contents page shows cover for accidental loss or damage of up to $5,000 away from your house on the Standard level, as a general benefit for contents rather than one specific to jewellery (Tower). It also says contents insurance covers your things only while you are travelling within New Zealand, and points to its separate travel insurance for trips overseas (Tower). Any other policy will have its own wording on jewellery carried in a suitcase.

A long absence can also matter. In Tower's wording, if your house is left unoccupied for more than 90 consecutive days, cover from day 91 is limited and an additional excess of $1,000 applies to contents claims, unless the house is shown on your certificate as a holiday home (Tower wording). Tower's wording invites you to call it if the house will be empty for more than 90 days.

What can sink a jewellery claim

• Wear and tear and gradual damage are excluded, so a worn clasp or a tarnished chain is not a claim (Tower wording).
• Bad repairs are excluded where cleaning or repairing used inappropriate or unsuitable methods, so use a competent jeweller (Tower wording).
• An unlocked house is a risk, because Tower's wording requires you to take reasonable care and to keep the house securely locked, including all windows and doors, when it is unattended (Tower wording).
• Other insurance matters. Tower's wording says its policy does not cover a loss that another insurer's policy also covers, so any other policy that includes your jewellery is worth telling the insurer about (Tower wording).
• Excess. An excess applies to each event that results in a claim, so check yours on your certificate (Tower wording).

Proof of ownership and valuations

Insurers pay on what you can show. Tower's wording requires proof of ownership or purchase for any property you claim for, and lists receipts, bank statements, warranties, photos and videos as examples (Tower wording). Tower's claims page also lists proof of purchase and photos of damage among the things to supply (Tower).

For jewellery, build a simple file now:

• Photograph each piece from several angles, worn and flat.
• Keep receipts and any jeweller's appraisal together with the photos.
• Record hallmarks and the serial numbers on watches.
• Store copies somewhere other than the jewellery box, such as a cloud folder.

Tower's wording does not set out a valuation process for specified items, so the insurer is the one to say what it wants to see before a high-value piece is specified. Tower settles on replacement value, and may repair, replace or pay by cash, vouchers or store credit, using a supplier of its choice (Tower wording). An up-to-date appraisal shows whether the amount specified matches today's replacement price. QuoteHub gives general information only.

Getting a quote from Tower online

Have your address and a room-by-room total of your contents to hand, including a list of each piece of jewellery and what it would cost to replace. QuoteHub's link opens Tower's online quote, which is Tower's own page, where Tower prices cover on the details you enter and issues the policy. Other insurers sell contents cover too, and the same limit checks apply to their wordings.

Questions people ask

Does contents insurance cover jewellery?

Usually yes, up to limits. Tower's wording covers jewellery including watches, with a per-item limit of $1,000 on Standard, $2,500 on Plus and $10,000 on Premium (Tower wording). Anything worth more needs to be specified.

What does specified jewellery mean?

It means a piece you have asked the insurer to cover for its own, higher amount, which is then shown on your certificate of insurance. Tower says this carries an additional premium (Tower wording).

Do I need a separate jewellery insurance policy?

Not necessarily. Most everyday jewellery is covered through contents insurance, and specifying handles individual high-value pieces. Loose stones and bullion are the exception, because Tower's wording does not let you specify them above the money, bars and precious stones limit, which is $250 on Standard, $500 on Plus and $1,000 on Premium (Tower wording, Standard, Plus, Premium). The same comparison of limits against your own pieces works on any policy.

Is jewellery covered when I travel overseas?

Not under Tower's contents policy, and other New Zealand wordings differ, so check the one you hold. Tower says contents insurance covers your things only while you are travelling within New Zealand, and points to travel insurance for trips overseas (Tower).

Do I need a valuation to insure jewellery?

Tower's wording asks for proof of ownership or purchase, such as receipts, photos and videos, for any property you claim for (Tower wording). For a high-value piece, ask the insurer whether it wants an appraisal before it agrees to specify the item.

What if I rent my home?

Tower offers contents cover for renters to insure their own belongings, and says flatmates need their own policy for theirs (Tower renters). See renters insurance, and for what happens when a loss occurs, read how to make a Tower claim. Phones and laptops have their own limits, covered in phone and laptop insurance, and the factors behind the price are in the contents insurance cost guide.

Cite this page QuoteHub NZ (2026). Jewellery Insurance NZ: Specified Items Explained. www.quotehub.co.nz/contents-insurance/jewellery-insurance-nz. Updated 2026-10-07.

References

• Tower contents insurance policy wording, Standard (09-24)
• Tower contents insurance policy wording, Plus (09-24)
• Tower contents insurance policy wording, Premium (09-24)
• Tower contents insurance
• Tower: calculating contents value
• Tower claims
• Tower contents insurance for renters

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