A Guide for Consumers
For your own protection and your responsibility to your insurance company
- Check your insurance policy. Not only does the extent of the cover vary between insurance companies, so too do the procedures in the event of a claim.
Following a loss, insurance companies’ wordings may vary as follows:
- In the event of a loss insurers may direct you to a nominated jeweller to have valuables repaired and or replaced or,
- In the event of a loss insurers may allow you to nominate a jeweller at your discretion subject to a fair and reasonable quotation to replace, repair or reinstate.
- Obtain an up-to-date appraisal of your jewellery and other valuable items every two to three years.
- Keep an inventory of all your jewellery, specified or unspecified and where possible, receipts and details of when and where the item was purchased.
- Have your jewellery inspected regularly by a JWNZ member to make certain that claws and mounts are in good condition.
- The clasps and strings of cultured pearls and valuable beads should also be checked regularly.
- Keep a separate inventory of all your jewellery at another location (other than your home), in case of fire, flood or peril.
- Take care of all your jewellery. Gold and silver are precious metals and should be treated with due care as stress can result in damage. Keep your jewellery in a safe place at your residence.
- It is advisable to photograph your valuable items or video your house contents to ensure that if a burglary does occur, you will be able to identify what is missing without relying on your memory.
Please note that most robberies centre on the master bedrooms – dressing tables and wardrobes.
Making an insurance claim
In the case of loss or theft of insured jewellery the Jewellers & Watchmakers of New Zealand Inc. would suggest the following procedure:
- On discovery of loss, notify your local police station immediately. Obtain a crime report.
- Immediately notify your insurance company or broker as to the nature and extent of your loss and request a claim form to be posted to you.
- Complete the claim form in as much detail as possible. Your JWNZ member will offer you assistance and in most cases be prepared to act on your behalf.
- In the event of you losing a gemstone take the claim form and article to your JWNZ jeweller for a quotation before returning it to your insurance company. Allow plenty of time to source a suitable replacement.
Your JWNZ Jeweller and you – working together!
The information above was prepared as a consumer service by the Jewellers & Watchmakers of New Zealand Incorporated in conjunction with Mike Henry Insurance Brokers.