QUESTIONS TO ASK YOUR INSURANCE AGENT

You may not have adequate coverage on your jewelry due to communication between your agent and yourself. Some of the more important questions to ask are as follows:

1- Do I have "scheduled" or "unscheduled" coverage?
If unscheduled, you will have limited coverage and usually a deductible.

2- Is the coverage "all-risk", or are there limitations?
Scheduled coverage is generally all-risk, which can cover partial loss, damage and
mysterious disappearance.

3- If I choose to "cash out", will I receive the amount of the assigned value?
Only if you have a full value replacement policy. Most policies are actual cash value policies. You will only receive the insurance company's cost to replace.

4- Can I go to whomever I choose to make a replacement?
In most cases, only if it is the same cost as it would be for the insurance company.

5- Am I able to replace a half-pair of earrings or cuff links?
Only with specific coverage in the policy. It should be noted in the appraisal.
Antiques, custom and sentimentally important pieces should be considered.

6- Can I save money by increasing the deductible?
Yes. The more the deductible, the greater the savings. A couple of small claims
could cause cancellation. It's wise to think about just covering a major loss and
not making claims for insignificant losses.

Jewelers Mutual Insurance has a policy available for $20 per $1,000 up to $15,000 and $25 up to $30,000 with no deductible. (L.A. County, other counties are less).

It is important that you select an appraiser with strong credentials or you may not be advised about many options that are available to you for your protection, as well as many other questions you should ask your agent.