Are you covered?

We have put together a list of questions you should ask when considering a insurance provider. We strongly recommend Jewelers Mutual.

• Is an appraisal necessary for full coverage?
• What is the difference between scheduled and nonscheduled coverage?
• Is there a deductible? If so, how much? Can I ask for a larger deductible for a premium savings?
• Is my policy all-risk (covering damage, robbery, mysterious disappearance, ect.)?
• Am I still covered if there is negligence or carelessness involved?
• Is my jewelry covered if lost, stolen or damaged while it is in someone else’s possession?
• What if only a part is lost, e.g. the diamond falls out of the ring?
• If there is a loss, do I have a choice of cash or replacement?
• Can I go to whomever I choose for the replacement?
• If a loss has been replaced through an insurance company source, will I be allowed to verify proper replacement by a reputable firm?
• If I cash out, will I get the full amount?
• If I select replacement, will I get to choose the replacement?
• Is there a difference in limitation between jewelry and silver?
• Are there any geographical limitations to my coverage outside of my home or business? Internationally?
• How much will it cost me per thousand for full coverage? For partial? What do I sacrifice for the limitations?
• Is depreciation ever imposed?
• How often should I replace my appraisal?
• Am I limited to appraisal replacement cost should there be a sizable increase in the value of my jewelry?
• If there is damage to a piece, can I replace it or mist I be limited to repairing it? If adjustment is limited to repair, am I enumerated for a loss of value?
• What if the lost item is irreplaceable?
• Is there any security precautions required? If not, would it affect the premium if there were?
• What proof is needed to justify a claim?
• What kinds of jewelry insurance are available?
• Are there any exclusions?
• What is the pair and set clause?
• What types of property are not covered?