Insurance Age

Marsh warns of underinsurance

Marsh has warned jewellery collectors of the risk of underinsurance in the wake of spiralling diamond and precious metal prices. During the past 12 months, the price of large diamonds has increased by an average of 30%, while platinum has almost doubled. Marsh said jewellery should be revalued every three to five years, although owners should consult a valuer for an estimation timeframe if their items were increasing rapidly in price.

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