Home Rings Custom Diamonds Information Ring Sizer Scrap Gold Repairs Appraisals Claims Contact

Insurance Claims

The experience of losing an engagement ring or a diamond can be devastating. Many insurance policies cover the replacement of engagement rings or any missing diamonds, without deductible, provided the engagement rings have been scheduled on the policy. Contact your insurer to arrange the appropriate coverage on your engagement ring before you experience a loss. Making a claim on an unscheduled engagement ring may or may not require you to pay a deductible. Your insurance broker will advise you in this regard. Usually the value of most engagement rings, and their center diamonds, exceeds the cost of the deductible. However the value of any smaller diamonds in the ring is often less than the cost of the deductible.

Initiating the Claim

To proceed with a claim on an engagement ring, contact your insurance company immediately. Your insurer will appoint an adjuster who will then mail you a Proof of Loss Form. To pursue your claim you will need to complete this form and return it to your adjuster. Copies of appraisals, invoices and photographs always help to substantiate claims. Adjusters usually ask that you to obtain several replacement cost quotations.Jewellery Insurance Replacement Cost Quotation

Replacement Quote

Kimberley Jewellers is there to help you through this somewhat overwhelming process and to simplify things for you. We specialize in expediting replacement quotes on engagement rings at no cost to you. We are independent of your insurance company and are totally unbiased in our assessment of the value of missing engagement rings. Our very competitive everyday pricing policy is based upon the volume of business we do with the insurance industry and in fairness we extend these fixed lower prices to all our customers. Whether you are replacing an engagement ring at Kimberley Jewellers through an insurance claim, or simply buying a new engagement ring, we charge the same low everyday prices.

Contact us to set up a meeting to prepare the required claim documentation. We will fax the Replacement Cost Quotation directly to your insurer. The Replacement Cost Quotation is used by your adjuster to  determine the value of your claim.

Replacement vs Actual Cash Value

After your insurer receives your completed Proof of Loss Form and your Replacement Cost Quotation they will process your claim. As an alternative to replacing your engagement ring, they may offer you a lower Actual Cash Value settlement. In determining Actual Cash Value your insurance adjuster will apply depreciation against the value that is detailed in the Replacement Cost Quotation, excluding GST and PST. It is your choice as to whether to accept a new engagement ring or to be cashed out at the lower amount.

Replacement Process

If we receive notification from your insurer that you have decided to go ahead with replacement, we will contact you in order to proceed. We have a large selection of engagement rings in our showcases for you to choose from.

 

 

Servicing Burnaby, Coquitlam, Delta, Langley, Maple Ridge, New Westminster, North Vancouver, Port Coquitlam, Richmond, Surrey, Vancouver, White Rock, BC, Canada