House of Diamonds is a preferred jeweler for many insurance carriers. We are constantly asked for repair and replacement quotes for damaged or lost jewelry covered by an insurance policy.
The process can be painful and sometimes unfair.
Let’s say you lose the primary stone in your wedding band. You notify your insurance company. You’ve been paying premiums to them for years. And the process often goes something like this:
- You turn in a claim.
- The claim goes through one (or several) underwriting steps to determine your loss and to get an approximate estimate for repair or replacement. Sadly, these underwriters are usually not jewelry experts.
- A conclusion is made by the underwriters. Quite often, they will work with one replacement provider and it’s rarely an actual jewelry store.
- If you’ve damaged your ring, you have to package it and send it to the replacement company they specify. If you’ve lost your ring, they end up mailing you a replacement that is “like and kind.” You end up crossing your fingers and hoping that they do a good job replacing or repairing your item.
In our experience, the results vary greatly. And the way it works is not always in your best interests. Especially with replacements. They are trying to satisfy the letter of their insurance policy as inexpensively as possible, and you are pretty much stuck with their decision.
Even worse, if a replacement happens on a House of Diamonds item through another source, all warranties, guarantees, trade-up policies, etc. are void. The reason for this is that the replacement stones typically are not equivalent, and they did not come from our trusted sources.
This can obviously lead to frustration. Customers that go through this process and find out what the ramifications are after the fact, have no recourse. There is really nothing they can do. So be sure to request that your items be repaired or replaced with the jeweler of your choice.
Jewelers Mutual Insurance – A Better Way to Protect Your Investment
In the event of a claim, Jewelers Mutual allows you to go to the jeweler you choose. You are in the driver’s seat for the replacement. In other words, you can re-choose your center stone and verify that any mountings and work meet your specifications before you sign off.
With House of Diamonds as your replacement choice, the process is seamless.
Their annual premiums are reasonable and their policies have no deductibles.
We are involved with insurance claims every week, sometimes multiple times in a week. And our experience working with Jewelers Mutual Insurance is by far the best in terms of protecting our client’s investment and interests.
Visit JewelersMutual.com for more information.