Are you covered?
We have put together a list of questions- just to be sure you are getting the coverage you expect:
1. Is an appraisal necessary for full coverage?
2. What is the difference between scheduled and nonscheduled coverage?
3. Is there a deductible? If so, how much? Can I ask for a larger deductible for a premium savings?
4. Is my policy all-risk (covering damage, robbery, mysterious disappearance, ect.)?
5. Am I still covered if there is negligence or carelessness involved?
6. Is my jewelry covered if lost, stolen or damaged while it is in someone else’s possession?
7. What if only a part is lost, e.g. the diamond falls out of the ring?
8. If there is a loss, do I have a choice of cash or replacement?
9. Can I go to whomever I choose for the replacement?
10. If a loss has been replaced through an insurance company source, will I be allowed to verify proper replacement by a reputable firm?
11. If I cash out, will I get the full amount?
12. If I select replacement, will I get to choose the replacement?
13. Is there a difference in limitation between jewelry and silver?
14. Are there any geographical limitations to my coverage outside of my home or business? Internationally?
15. How much will it cost me per thousand for full coverage? For partial? What do I sacrifice for the limitations?
16. Is depreciation ever imposed?
17. How often should I replace my appraisal?
18. Am I limited to appraisal replacement cost should there be a sizable increase in the value of my jewelry?
19. 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?
20. What if the lost item is irreplaceable?
21. Is there any security precautions required? If not, would it affect the premium if there were?
22. What proof is needed to justify a claim?
23. What kinds of jewelry insurance are available?
24. Are there any exclusions?
25. What is the pair and set clause?
26. What types of property are not covered?