QUESTIONS TO ASK YOUR INSURANCE COMPANY

  1. Is an appraisal necessary for full coverage?

  2. What Is the different between scheduled and unscheduled coverage?

  3. Is there a deductible? If so, how much? Do I have option to increase the deductible and thus lower the premium?

  4. Is my policy all-risk (par loss, damage, mysterious disappearance, etc.)?

  5. Am I still covered if there is negligence or carelessness involved?

  6. Is the item covered if lost stolen or damaged while in the possession of someone else?  What if only a part is lost, stolen or damaged while in the possession of someone else?

  7. If there is a loss, do I have a choice of a full cash-out or will I have to accept a loss?

  8. Can I go to whomever I wish for the replacement?

  9. If a loss has been replaced though an insurance company source, will I be allowed to verify proper replacement by an independent firm or accredited appraiser?

  10. Is there a difference in limitation between jewelry and silverware?

  11. Are there any geographical limitations to my coverage? 

  12. How much will it cost per thousand for full coverage? Partial? What do I sacrifice for the limitations?

  13. Is depreciation ever imposed?  To what and how is it computed?

  14. How often should I have an appraisal undated?

  15. Am I limited to the appraisal replacement cost should there be a sizable increase in the value?

  16. If there is damage to a piece, can I replace it or will I be limited to a repair?

  17. What if the lost item is irreplaceable, like an antique?

  18. Are there any security precautions required? If not, would there be a premium saving if special precautions were taken, e.g., the items were kept in a home safe. Or in a safety deposit box when not being worn?

  19. What proof is needed to justify a claim?

  20. Are there different kinds of jewelry insurance available?

  21. Are there any exclusions?

  22. What is the pair and set clause? Will insurance cover an additional amount for matching a missing item in a set if it hasn’t been computed or stated?

  23. Will you show me the actual language in the policy which addresses each concern I’ve expressed.