How to Insure Art, Jewellery and Watches Under One Policy in Australia
- Luxsure Insurance - Luxury Home Insurance Broker
- Jan 28
- 3 min read
High-net-worth households rarely own just one category of valuable asset. Fine art, luxury jewellery, high-end watches, and designer contents are often held together — displayed, worn, travelled with, and stored across multiple locations.
Yet many Australian homeowners still insure these assets across fragmented policies or, worse, under standard home insurance limits. The result is confusion, underinsurance, and costly disputes at claim time.
This guide explains how art, jewellery, and watches can be insured under one specialist policy in Australia, and why this approach is essential for prestige homes and valuable collections.
Why Standard Home Insurance Fails Multi-Asset Households
Standard home and contents insurance is not designed to insure fine art, jewellery, and watches together.
Common issues include:
Separate low sub-limits for each asset class
Inconsistent valuation methods
Conflicting exclusions across items
No cover outside the home
No recognition of collections or sets
For luxury households, this fragmented approach creates major exposure gaps.
What “One Policy” Insurance Actually Means
Insuring art, jewellery, and watches under one policy does not mean a generic contents policy with higher limits.
It means a specialist fine art and valuables insurance program that:
Lists high-value items individually or as collections
Uses agreed or replacement valuation
Provides worldwide cover
Applies consistent terms across all assets
This approach delivers certainty and simplicity.
How Fine Art Is Insured Under a Combined Policy
Fine art insurance within a combined policy typically includes:
Individual listing of artworks or collections
Agreed value based on professional valuation
Cover during display, transit, storage, and loan
Accidental damage and restoration costs
Artworks are treated as standalone assets, not generic contents.
How Jewellery Is Insured Under the Same Policy
Luxury jewellery is insured using specialist appraisal rather than retail receipts.
Coverage typically includes:
Diamonds, gemstones, and heirloom jewellery
Agreed or replacement value
Worldwide cover, including while worn
Loss, theft, and accidental damage
Jewellery is insured seamlessly alongside fine art — not under capped contents limits.
How Luxury Watches Are Covered
High-value watches require specialist treatment due to:
Brand-specific replacement costs
Limited availability
Market volatility
Combined fine art policies insure:
Luxury watch collections
Individual watches at agreed value
Worldwide wear and travel
Theft, loss, and accidental damage
This is essential for collectors and frequent travellers.
Why Combined Cover Is Better Than Multiple Policies
Insuring art, jewellery, and watches under one policy provides:
1. Consistent Valuation
All assets are valued using specialist methodologies — not mixed standards.
2. Simplified Management
One renewal, one insurer, one private-client claims team.
3. Worldwide Protection
Uniform cover terms whether assets are at home or abroad.
4. No Overlapping Gaps
No confusion over which policy responds.
5. Specialist Claims Handling
Claims are managed by experts who understand high-value assets.
The Role of Prestige Home Insurance
While art, jewellery, and watches are insured under specialist cover, the home itself must also be protected correctly.
Prestige homes often contain:
Architectural design
Bespoke materials
High-value interiors
This is where prestige home insurance integrates with fine art insurance, ensuring both the property and its contents are insured to their true value.
Together, they form a private-client insurance program.
Who Needs Combined Fine Art and Valuables Insurance?
You should consider insuring art, jewellery, and watches under one policy if:
You own fine art or curated collections
Your jewellery or watch value exceeds standard limits
You travel frequently with valuables
Your home is a prestige or architectural property
Replacement would be complex or disputed
If losing an item would involve negotiation, delay, or valuation disputes, specialist cover is essential.
Fine Art and Valuables Insurance in Australia
In Australia, specialist insurers offer fine art and valuables insurance exclusively for high-net-worth households. These insurers do not operate in the retail market and require bespoke underwriting.
A combined policy ensures:
Accuracy
Simplicity
Discretion
Certainty
This level of protection is not available through standard home insurance.
Protecting High-Value Assets the Right Way
Fine art, jewellery, and watches represent more than monetary value — they reflect lifestyle, legacy, and personal history.
Insuring these assets under one specialist policy ensures they are protected properly, wherever they are in the world.
To understand how this works in practice, explore our Fine Art Insurance Australia and Prestige Home Insurance Australia pages and ensure your assets are insured without compromise.
Comments