Do I Need Separate Insurance for Art, Jewellery, and Collectables?

For many Australians, their most valuable possessions extend beyond the home itself. Art collections, fine jewellery, antiques, and rare collectables often hold both financial and sentimental value. But here’s the big question: are they properly insured under your standard home and contents policy, or do you need a separate insurance solution?

At Luxsure Insurance by Clarke Lyons, we specialise in protecting high-value assets. Here’s what you should know.

Are They Covered Under Home Insurance? (Art, Jewellery, Collectables insurance)

Most home and contents insurance policies will cover art, jewellery, and collectables — but with strict limits.

• Sub-limits apply: A standard policy may only cover jewellery up to $2,000 per item, or art up to $5,000. If your item is worth significantly more, it may be underinsured.

• Specified items: Insurers often require you to list (or ‘specify’) items individually with valuations if they exceed certain thresholds.

• Coverage type: Some policies cover theft and fire but exclude accidental damage, which is particularly important for delicate items.

When Do You Need Separate Insurance?

If your collection is valuable, unique, or growing, separate specialist insurance may be the safer choice.

• High-value art collections – specialist policies cover accidental damage, loss during transit, and even international exhibitions.

• Fine jewellery & watches – dedicated cover for accidental loss, damage, or mysterious disappearance.

• Rare collectables – from wine and stamps to memorabilia, specialist cover recognises their unique value.

Separate insurance ensures:✅ Accurate valuations✅ Worldwide cover (important for jewellery or art on loan/exhibition)✅ Broader protection beyond standard home insurance

Why Work With a Specialist Broker?

General insurers may not fully understand the complexities of art, jewellery, and collectables. That’s where Luxsure Insurance by Clarke Lyons comes in.

• We work with specialist underwriters who appreciate the unique risks of high-value assets.

• We ensure valuations are correct, so you’re never underinsured.

• We provide tailored cover that goes beyond the limits of standard home policies.

Key Takeaway

While standard home insurance may cover your art, jewellery, and collectables to a point, the limits are rarely enough to provide true peace of mind. If you own valuable or irreplaceable items, specialist insurance is essential.

At Luxsure Insurance by Clarke Lyons, we provide bespoke solutions for clients who want to safeguard their most treasured possessions with the attention they deserve.

FAQ

Q: Are jewellery and watches automatically covered by home insurance?A: They may be, but usually with low sub-limits (e.g., $1,000–$2,000). For high-value items, you’ll need them specifically listed or separately insured.

Q: Do I need a valuation for my art or jewellery? A: Yes. Most insurers require up-to-date valuations to ensure accurate cover in case of loss.

Q: Can I insure collectables like wine, coins, or memorabilia? A: Yes. Specialist policies can be tailored to protect rare or niche collections beyond what a standard home policy offers.