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By the year 2020, the online fine jewellery and fashion jewellery market is expected to capture 10 to 15% of the jewellery market, respectively.1 And while buying jewellery online can be convenient, it is wise to proceed with caution and make sure your purchase is legitimate and arrives in your hands whole and beautiful.
Here are a few things you’ll want to do before you click “purchase” online:
1. Research the seller
Do your due diligence on the seller first. Read other buyers’ comments or reviews, to see whether the seller has a reputation for being ethical, fair, and easy to work with.
2. Read the fine print
Review the seller’s privacy policy to see whether they share your email or contact information with third-party organizations. Carefully read their exchange and return policy as well, to make sure that if you’re not happy with what you received, or something comes to you damaged, you will have some recourse.
3. Request pictures
Ask the seller for detailed pictures to ensure the quality of the jewellery you’re purchasing. For example, if the site claims the piece is signed or the metal is a certain quality, request a photo of the signature or metal purity stamp on the piece.
4. Make sure it’s packaged carefully
Scratches are a common cause of jewellery damage, so make sure that your piece is packaged carefully and tightly, so it cannot be easily tossed around in transit. Request that the seller pack each individual item in a soft cloth pouch that can be sealed or tied shut so the piece can’t come loose during shipping. Make sure the cloth pouch fits snuggly within its shipping box – packing with extra bubble wrap or tissue paper can help. Additionally, twisting and bending semi-rigid chains or other jewellery pieces can cause permanent damage. Pay extra if need be to ensure that your item is shipped in a box that is large enough.
5. Verify your coverage
Especially when you are purchasing expensive diamonds, gemstones, and jewellery with precious metals, there is no guarantee that your existing homeowners policy will provide sufficient protection if the piece is lost, damaged, or stolen. Before buying a piece online, contact your broker to see what coverage you have in place. Consider adding a valuable articles policy that provides all-risk protection and automatic coverage for newly acquired jewellery to ensure that your purchase is protected from the moment you click “buy.”
Insights and expertise
This document is advisory in nature and is offered as a resource to be used together with your professional insurance advisors in maintaining a loss prevention program. It is an overview only, and is not intended as a substitute for consultation with your insurance broker, or for legal, engineering or other professional advice.
Chubb is the marketing name used to refer to subsidiaries of Chubb Limited providing insurance and related services. For a list of these subsidiaries, please visit our website at www.chubb.com. Insurance provided by Chubb Insurance Company of Canada or Chubb Life Insurance Company of Canada (collectively, “Chubb Canada”). All products may not be available in all provinces or territories. This communication contains product summaries only. Coverage is subject to the language of the policies as actually issued.