First Actions

If there was a crime involved first, contact the police.  Next contact your insurance company and report the loss.

Your insurance company will have an insurance claims adjuster contact you.  The adjuster is a specialist in insurance losses and settlement and will be your point of contact regarding your claim and will advise you on how to proceed.

Your insurance policy, insurance company and adjuster will help answer some important issues.
Does your policy cover you for this loss?
What are the limits of your coverage?
How much is the deductible you will have to pay?
How will this claim effect your insurability and future rates?
What do you need to do if you proceed with this claim?

Summary

Your insurance adjuster will require you to complete a 'proof of loss' and then needs to know the current, fair market value of your lost items.

Fair market value is based on what is the actually cost to replace your item(s) now, identically if available.  Or the cost of something similar of like kind and quality.

To determine this value the insurance company usually requires you to obtain a few competitive estimates.

JK Schmidt Jewellers is very experienced in dealing with insurance claims.  We will be happy to help you with the preparation of your insurance replacement estimate for the jewellery, giftware and watches of your loss.

There is no charge to prepare an insurance estimate.

Obtaining an Estimate

We recommend that you make an appointment 250-768-7353  or 1-800-406-3666, in order that an insurance specialist is available to spend the necessary time to help you properly.

Before You Come In

To make the process accurate, simpler and quicker - it would be helpful if you do the following before coming in.

Write a List

of all the jewellery and watches you lost with as much of this information you have and know:

Chains: metal, karat, length, style, weight
i.e. gold chain, 10Kt, 22inches, box link, 6grams

Watches: gender, brand, model number, bracelet, material
i.e. Ladies Bulova, 56G55, leather strap, gold tone

Rings: style, metal karat, weight, gemstones - number, size and quality
i.e. Engagement ring, 14Kt, 5 grams, half carat diamond, SI1/G-H

Earrings/Pendants: style, metal karat, gemstones - number size and quality
i.e. studs, 18kt, diamonds, 0.75ct tw, VS2/H with 12 x 2mm AA quality emeralds

Your own rough sketch in size of each item would be also be helpful

You probably don't know all the above specifics.  Not to worry, any information you can provide, helps our insurance specialists.  They will fill in all the blanks with you, using samples, aids and catalogues.

If you know, include the approximate purchase price and when the item was purchased
i.e. paid $400 - 1995

Bring along all appraisals, bills of sales, pictures and certificates you have for the lost items.

Add any other information you know or remember about the item that will help us to come up with an accurate replacement price.

Also bring along any documents that you need photocopied or faxed, we will do that for you.


After Getting Your Information

1.  Based on your information we research the current values,  in conjunction with our gemologist, our technicians and our suppliers, to determine a fair current replacement cost.

That value is what it would cost JK Schmidt Jewellers to provide the identical item or one of like kind and quality.

2.  We prepare the written replacement estimate.

3.  The estimate is faxed to your insurance adjuster and we send you a copy by fax or mail.

4.  When you receive our estimate please review our details, to check if we are missing something or we got something wrong.  Contact us with any questions or concerns.

5.  Once your adjuster has the required estimates and documentation he will proceed with your claim.  Your adjuster will then make a decision on replacement and discuss this with you.


Insurance Claims


FREQUENTLY ASKED QUESTIONS

I was asked to get estimates?
What do I need to do to get an estimate?
What should I do before I come in?
I have no details on my items?
What happens after you get my information?
How long does it all take?
What does the estimate cost?
Can I get an estimate by email or fax?
Your estimate is lowest will I get the same quality?
They approved your estimate now what?
Do I need to replace the same thing?
Your estimate was approved must I deal with you?
What about refunds, exchanges and warranty?
I'd rather have the cash instead?
What does the insurance company pay for the items?
How does the insurance discount work?


I was asked to get estimates?
A few estimates are usually needed, we're experienced with claims and can help.

What do I need  to do to get an estimate?
Make an appointment with one of our insurance specialists.

What should I do before I come?
Prepare a list of your items and bring all the documentation for the lost items you have.

I have no details on my items?
No problem - we'll work with you using samples, aids and catalogues.

What after you get my information?
after we get your information we:
- research to determine replacement costs
- produce a detailed insurance estimate
- fax estimate to the adjuster
- send you a copy

How long does it all take?
Usually a few days for us to prepare the estimate.  We deal with many insurance claims and complete them in the order they come in.

What does the estimate cost?
Nothing - no charge for estimates.

Can I get an estimate by email or fax?
Yes if you have sufficient information about the items, include:
- your name, mailing address and phone number
- your adjuster's name, company, mailing address, and phone and fax numbers
- copies of appraisals and bills of sale

Your estimate is lowest will I get the same quality?
Yes definitely - we guarantee it!  Our prices are low - that's why we make and sell more jewellery than anyone else we guarantee replacement at identical or higher quality than the original.

They approved your estimate now what?
Come in and we'll work with you to select, order, or custom make the replacements.  You pay the deductible if any, you take the items, we bill the insurance company.

Do I need to replace the same thing?
You usually have the flexibility to replace with items of the same cost.

Your estimate was approved must I deal with you?
No it's always your choice which jeweller to deal with.

What about refunds, exchanges and warranty?
Exchanges within 30 days, refunds within 15 days.  We refund to whom paid.  All items are guaranteed and warranted by the manufacturer and us.

I'd rather have the cash instead?
Discuss this with the adjuster, depreciation usually applies to cash settlements.

What does the insurance company pay for the items?
Insurance companies are volume buyers and receive special discounts.

How does the insurance discount work?
Prices quoted are retail manufacturer's suggested selling price insurance discount is on the retail price.  Even if you select sale or clearance items you always get the lowest price.