A brief about Jewelry Insurance

Madeline · Posted: Fri May 05, 2006 7:55 am Post subject: A brief about Jewelry Insurance

Jewelry Insurance is all about getting coverage for a precious jewelry in the event when it gets lost, stolen or damaged. Once the buyer has the jewelry in his possession he is supposed to get an appraisal from the seller for the real worth of the jewelry so that it could be replaced for the same value at any other place. The buyer is then needed to submit a copy of the appraisal to his insurance agent who in turn would charge him a fee to get coverage for his jewelry.

Gertrude · Posted: Fri May 05, 2006 8:21 am Post subject: Cash for replacement

hi...I have been considering the possibilities to opt for Jewelry Insurance of late….but before that I need to know the basis of settlement from the insurers' point of view…Could anyone help !

regards,
Gertrude

steven · Posted: Fri May 05, 2006 9:17 am Post subject: jewelry policies

According to the jewelry policies offered by most of the insurance companies, if their prospect possesses jewelry worth more than $1000 then he needs to get the items enlisted and described on the policy document. In the event that such items get stolen the insurance company would offer a payment depending on the indemnity or the replacement value of the item as per the policy norms.

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Melanie · Posted: Fri May 05, 2006 9:27 am Post subject: jewelry depreciates with time...

hi...I've recently applied for a jewelry insurance program but not yet received my membership materials. But I am really at a loss since I was unaware that jewelry depreciate with time…now I'd like to know if this policy would be of any help to me at all?

Melanie

evan · Posted: Wed May 17, 2006 5:08 am Post subject:

My friend…its quite true that many people are still not aware of the fact that the value of jewelry reduces with the passage of time but it is on this basis that your claims will be settled. A second-hand retail value of the lost or stolen item ascertained by the age, wear and tear or the changing preferences would be depicted by the settlement . Hence its more important for you to know the exact worth of your jewelry and get it evaluated at regular intervals of time. Hence the Replacement value of the lost or stolen jewelry item is just the cost of substituting your jewelry with an item worth the same quality and specification.
regards..

A brief about Jewelry Insurance

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