GemLab To The Rescue!

Consumer illustrates the benefits of GemLab's Independent Jewellery Valuation Service.

See in this Consumer piece how our comprehensive understanding of jewellery insurance has prevented this jewellery owner from an incorrect claim settlement. https://www.consumer.org.nz/articles/jewellery-insurance In the article The Insurance Ombudsman recommends you have your more expensive jewellery professionally valued to ensure you are fully protected.

In this case, however, when the client lost their watch the insurance company only offered to replace it for a third of our valuation. The reason is the insurance company's valuer had mistakenly listed the second-hand value of the watch in the replacement column on the loss schedule. It should have been the replacement new value as per our original valuation report.

It was only after we convinced the insurance company that they were making an error that they agreed to settle on the correct basis according to the policy wording.

It is possible that many jewellery claims over a period of years have been settled incorrectly because of this fundamental error. If you have made a claim for estate or antique jewellery or vintage watches over the past 10 years you may also have been settled incorrectly without you realizing.

If you would like to have your historical or current jewellery claim independently valued, please contact Paul Nilsson at GemLab