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Questions To Ask Your Insurance Company



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Questions To Ask Your Insurance Company

  1. Is an appraisal necessary for full coverage?

  2. Will my claim, and replacement value, be more readily accepted if the appraisal has been performed by an accredited appraiser?

  3. What is the difference between scheduled and unscheduled coverage?

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

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

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

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

  8. If there is a loss, do I have the option of a full cash-out, or will I have to accept less?

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

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

  11. Are there any geographical limitations to my coverage?

  12. How much will it cost per thousand for full coverage? And what is the cost for a partial coverage? What do I sacrifice for the limitations?

  13. Is depreciation ever imposed? How is it calculated?

  14. How often should I have an appraisal update?

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

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

  17. What if the lost item is irreplaceable (for example, in the case of an antique)?

  18. Are there any security precautions required? If not, would there be a premium savings 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 the insurance cover an additional amount for matching a missing item in a set if it hasn't been computed and stated?

  23. What types of property are not covered?

  24. Will you show me the actual language in the policy which addresses each concern I've expressed?

Contact us today to discuss your appraisal needs.