Guide to insuring high-value items in New Zealand. Learn how to protect artwork, jewelry, collectibles, and other valuable possessions separately.
Why High-Value Items Need Separate Cover
Standard contents insurance policies often have sub-limits on individual items—typically $2,000-$5,000 per item. If you own jewelry, artwork, collectibles, or other valuable possessions, they may not be fully covered by standard policies.
Items That Often Need Special Cover
Common high-value items include:
- Jewelry and watches
- Artwork and antiques
- Collectibles (coins, stamps, memorabilia)
- Musical instruments
- Photographic and video equipment
- Luxury handbags and accessories
- Rare books and manuscripts
- Vintage or designer furniture
Specified Items Coverage
Most NZ insurers offer specified items coverage, where you list high-value possessions individually with their value. These items then receive full coverage (minus excess) regardless of the general sum insured limit.
Documentation Is Essential
For high-value items, proper documentation is crucial. Get professional valuations for expensive pieces—this proves value to insurers and helps speed up claims. Keep receipts, certificates of authenticity, and photographs in a safe place.
Valuation and Appraisal
For jewelry and artwork, consider getting a professional appraisal every 2-3 years. Values fluctuate, and insurers need current assessments to provide accurate coverage. Many appraisals are relatively inexpensive and provide protection.
Coverage While Away From Home
Some policies limit coverage for portable items outside your home. If you wear jewelry or carry items regularly, ask whether these are covered away from the property, not just at home.
Protecting What Matters Most
Your valuable possessions deserve dedicated protection. Specified items coverage ensures you won't be undercompensated if something precious is lost or damaged.
