Even the experts are not immune

by Admin 25. November 2014 13:11

Recently, I gave a demonstration of i-Val to a client of mine, whose career has been in insurance for many years. 

 

I showed her an example of a poor appraisal which resulted in the overpayment of thousands of dollars of premiums paid for several years by the jewelry owner.  And how, had there been a loss, the insurance company would have overpaid hundreds of thousands of dollars in a claims settlement.


We talked about how exposed both the insured and the insurance company are, if the appraisal document fails to adequately describe and/or value an article, and how i-Val would have flagged issues prior to scheduling.


I spoke with her again this week.


Here is someone who knows the language and the risks, based on working in the insurance industry for many years on a daily basis.


And, she admitted that it was our demo and conversation that prompted her to revisit her own jewelry coverage again.

We all get busy and lose track of time. 


Jewelry owners must rely on their jewelry and insurance experts to help them navigate through the proper information and coverage. 


Perhaps ask your jeweler or appraiser if they could remind you of when you need to get your jewelry examined for security, as well as when you need appraisal updates.

 

Tags:

General | About Blog | Insurance | Jeweler | Owner

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