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Has anyone filed a claim with Jewelers Mutual?

mary1012

Rough_Rock
Joined
Mar 21, 2011
Messages
9
I just purchased a policy about a month ago and have somehow lost my ring that I never take off. Absolutely devastated and kind of afraid of calling JM! Has anyone filed a claim with them before? what was the process like? My policy is for $4,000, will I be able to choose a jeweler and a ring for $4,000, or will they only pay like $2000 and I'll be stuck with the difference? So many questions, please help!
 

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Resonance.Of.Life

Brilliant_Rock
Joined
Nov 8, 2008
Messages
1,282
I filed a claim with them last fall and the process was easy and pain-free! I made the initial claim on the website and in 3 business days I got a letter in the mail asking me to fill out more information including what jeweler I wished to work with for the replacement. Within 2 weeks I had my new ring :).
 

mary1012

Rough_Rock
Joined
Mar 21, 2011
Messages
9
What did the paperwork entail? did you go with a mall jeweler (like zales or kay)? I am only worried about filing a claim because I JUST got the policy! Still in shock that I can't find it anywhere... how was the process of getting a ring? did they pay for the entire amount you were insured for, and did you upgrade? sorry for the million questions, just beside myself!
 

Resonance.Of.Life

Brilliant_Rock
Joined
Nov 8, 2008
Messages
1,282
It consisted of telling how I lost the item in detail mostly and they already had my appraisal so I just went with the same jeweler I used before (online retailer). I got the same item (an eternity band) so it was a painless and easy process for me. Since yours is an engagement ring (I assume) it might be more complicated.
 

mary1012

Rough_Rock
Joined
Mar 21, 2011
Messages
9
Yes it in an engagement ring. So they covered your entire insured amount? that is my concern.
 

MichelleCarmen

Super_Ideal_Rock
Joined
Feb 8, 2003
Messages
15,880
mary1012|1300810914|2877344 said:
Yes it in an engagement ring. So they covered your entire insured amount? that is my concern.
What does your policy say? Is anything written about how much they cover?
 

mary1012

Rough_Rock
Joined
Mar 21, 2011
Messages
9
doesn't specify. I just thought that since I insured for a certain amount, that is how much they would pay towards a new ring. Am I wrong?
 

aileron

Rough_Rock
Joined
Dec 2, 2010
Messages
19
Mary,

I'm not sure that I understand your question. Did you insure the ring for $4,000 based upon an appraised value, but you're now concerned because you only actually paid $2,000?

In any event, you will really need to look at the terms of your policy to determine how losses are covered/reimbursed.
 

mary1012

Rough_Rock
Joined
Mar 21, 2011
Messages
9
No. I insured the ring at $4,000 based on the appraisal, but I lost my ring and am wondering if they will pay $4,000 for a new ring, or if they will pay less than that. There is no specification in the paperwork as to how much they will pay. I'm also curious as to how the claims process will be since I've only had the policy for a month! I haven't called yet in hopes that I will find it.
 

yssie

Super_Ideal_Rock
Premium
Joined
Aug 14, 2009
Messages
19,813
No advice Mary, but goodness, what a horrible thing to have happen! I hope JM resolves this quickly and completely, I am imagining how stressed I would be in your shoes :sick:
 

mrssalvo

Super_Ideal_Rock
Joined
Jan 3, 2005
Messages
19,132
It's hard without knowing the details of your policy. If they agreed to replace your diamond with one of equal specs than that's what they will do, it may not cost them is much to replace it but you should end up with a ring that is equal to what you had. I'd call them and let them know at this point and see what they suggest and find out the details of your coverage. If the ring does turn up, you can just let them know and cancel the claim. I'm sorry that you lost your ring.
 

JessicaV

Rough_Rock
Trade
Joined
Dec 29, 2010
Messages
8
Mary1012, first of all, I can hear the devastation in your message and want to tell you how sorry I am for your terrible loss. Losing something as precious as a piece of jewelry which holds so much sentimental value is heart-breaking. But as awful as your situation is, I want to assure you that you have nothing to fear when making a claim. Loss happens. As a Jewelers Mutual policyholder, you’ll be able to work with your preferred jeweler to replace your lost ring with the same kind and quality as the original. You’ve already been through enough worry; don’t let filing your claim add to your stress. It will bring you one step closer to being made whole again!
 

Wink

Ideal_Rock
Trade
Joined
May 3, 2001
Messages
7,339
mary1012|1300744483|2876834 said:
I just purchased a policy about a month ago and have somehow lost my ring that I never take off. Absolutely devastated and kind of afraid of calling JM! Has anyone filed a claim with them before? what was the process like? My policy is for $4,000, will I be able to choose a jeweler and a ring for $4,000, or will they only pay like $2000 and I'll be stuck with the difference? So many questions, please help!
JM is a replacement policy, they will NOT write you a check. You may go to the jeweler of your choice and ask them to work directly with JM for replacing your item. JM will work with them and will pay them for your ring when it is completed. You will not have to worry about paying for anything, unless you chose a deductible to save on the premium, in which case you will be liable for the deductible.

If you had a good experience with your original vendor then you may want to return to them, as they will know exactly what you had and will be able to easily work with you to replace it.

Wink
 

Wink

Ideal_Rock
Trade
Joined
May 3, 2001
Messages
7,339
4Jessica|1300971977|2878834 said:
Mary1012, first of all, I can hear the devastation in your message and want to tell you how sorry I am for your terrible loss. Losing something as precious as a piece of jewelry which holds so much sentimental value is heart-breaking. But as awful as your situation is, I want to assure you that you have nothing to fear when making a claim. Loss happens. As a Jewelers Mutual policyholder, you’ll be able to work with your preferred jeweler to replace your lost ring with the same kind and quality as the original. You’ve already been through enough worry; don’t let filing your claim add to your stress. It will bring you one step closer to being made whole again!
Well said Jessica, and welcome to Pricescop[e.

Wink
 

Trigon

Rough_Rock
Joined
Oct 22, 2009
Messages
15
Jewelers Mutual likes to keep the business amongst it's own policy holders if at all possible. They will encourage the retail customer to go to a jeweler of their choice, and the original seller will hope it is them. By providing excellent service and merchandise at the original sale, they jeweler raises the likelihood that the customer will return to them if and when there is a loss involved. As mentioned in the preious post, they won't writw you a check, but will make sure that you are made whole.
 

mrssalvo

Super_Ideal_Rock
Joined
Jan 3, 2005
Messages
19,132
JessicaV|1300971977|2878834 said:
Mary1012, first of all, I can hear the devastation in your message and want to tell you how sorry I am for your terrible loss. Losing something as precious as a piece of jewelry which holds so much sentimental value is heart-breaking. But as awful as your situation is, I want to assure you that you have nothing to fear when making a claim. Loss happens. As a Jewelers Mutual policyholder, you’ll be able to work with your preferred jeweler to replace your lost ring with the same kind and quality as the original. You’ve already been through enough worry; don’t let filing your claim add to your stress. It will bring you one step closer to being made whole again!
:appl: Mary, I hope you feel better after reading this and you get your replacement quickly!!
 

tuffyluvr

Brilliant_Rock
Joined
Mar 24, 2011
Messages
1,339
How awful!!! The thought of losing it is one of the reasons jewelery stresses me out! Best wishes in getting your claim taken care of!
 

mary1012

Rough_Rock
Joined
Mar 21, 2011
Messages
9
still haven't filed because I was hoping I would find it :( I promised my fiance I would call tomorrow though. it really is devastating. I wouldn't want a check from JM, just a new ring. Not looking for money, just my ring back! My fiance actually said maybe we could upgrade my previous ring, so we will see depending on how it works with JM. Does anyone know? I would probably be going to a chain jeweler like zales, kay, etc. thank you all so much for your wonderful posts!
 

Wink

Ideal_Rock
Trade
Joined
May 3, 2001
Messages
7,339
mary1012|1301317246|2881743 said:
still haven't filed because I was hoping I would find it :( I promised my fiance I would call tomorrow though. it really is devastating. I wouldn't want a check from JM, just a new ring. Not looking for money, just my ring back! My fiance actually said maybe we could upgrade my previous ring, so we will see depending on how it works with JM. Does anyone know? I would probably be going to a chain jeweler like zales, kay, etc. thank you all so much for your wonderful posts!
Jewelers Mutual will pay for replacing what you had. Any portion of the cost that is for the update will need to be paid by you. They are very used to this situation and can walk you through it.

Wink
 

diamondseeker2006

Super_Ideal_Rock
Premium
Joined
Jan 11, 2006
Messages
54,995
Mary, I would really encourage you to consider upgrading toward better quality than the jewelry stores you named if you are considering an upgrade. There is a ton of information on this forum to help you make good choices, and there are people who can help you choose stones. I know some of the vendors here also have a relationship with Jewelers Mutual, WhiteFlash is one that I know of.

I do hope you find your ring, but if you don't, you have the rare opportunity to make a more educated purchase this time.
 

mary1012

Rough_Rock
Joined
Mar 21, 2011
Messages
9
well, it's the end of our night and ring is nowhere to be found :( I will be calling JM tomorrow, and will update as to how the claim process goes incase anyone on here was wondering. We have decided on another ring that is about $1,600 over what my insurance policy is for, so is that the amount I would pay towards new ring? Does anyone know? thanks to you all again!
 

Wink

Ideal_Rock
Trade
Joined
May 3, 2001
Messages
7,339
mary1012|1301363878|2882304 said:
well, it's the end of our night and ring is nowhere to be found :( I will be calling JM tomorrow, and will update as to how the claim process goes incase anyone on here was wondering. We have decided on another ring that is about $1,600 over what my insurance policy is for, so is that the amount I would pay towards new ring? Does anyone know? thanks to you all again!
It will depend on your jeweler, if it is a retail jeweler and he is charging you retail for the ring, except the part he is charging to JM, then yes, that should be about it. If he is giving you the same margin that he is giving JM then it could be less.

Wink
 

mary1012

Rough_Rock
Joined
Mar 21, 2011
Messages
9
I am going with Zales. not sure what you meant in your post though, I know nothing about this stuff!
 

ked123

Rough_Rock
Joined
Apr 27, 2009
Messages
80
Hmmm..... they won't write a check? I have JM and asked about this before I signed up. They mentioned that they did not work directly with my jeweler, but in the event of loss, I could still purchase from them and JM would reimburse me via a check. This was for a Tiffany solitaire.
 

PCMusicGuy

Rough_Rock
Joined
Mar 29, 2011
Messages
26
Perhaps the policy at Jewelers Mutual has changed. I bought a police on a ring appraised at $21k in 2008 and they claimed that they did not work with the jeweler directly and could basically just write check. This was the ONLY reason I went with them as that was the main difference between them and any other insurance providers. The policy was ~$350 a year.
 

pilot1

Rough_Rock
Joined
May 4, 2011
Messages
2
I have a few items insured with JM and just recently had my $22,000 diamond pendant robbed from me while travelling overseas, I filed a claim upon my return to the US and now JM has sent me a letter with the following "...... By continuing our investigation of your loss, Jewelers Mutual Insurance Company specifically reserves all its rights and defenses under the policy of insurance issued to you....."
Furthermore, they have referred me to McLarens Young as an adjuster to take care of this case. Personally it looks like it's going to be tough and will take up a lot of my time but I will keep everyone posted as to how it goes. Just after reading this message from them I wish I would have insured all my jewelry through the home insurance provider because it seems to me that they're going to try to stretch this out as much as possible and create more work for me, just judging by his wording.
 

Sheherizaad

Shiny_Rock
Joined
Feb 7, 2011
Messages
244
I insured my engagement ring with Jeweler's mutual. We bought it for $16,800, and it was apraised at $38,000. My policy is for about $45,000. I pay about $650 a year (I also have some other jewelry with them as well, plus I live in NYC so higher crime rates, etc).

The policy is that they work with a vendor of my choice to get something as close as possible to what I have. The quality will never go down as well. So in other words, they will never make me take a 2.2 carat center stone if my center is 2.34 or a J if my stone is an I or an SI1 if my stone is a VS2, so on and so forth. When looking for a new ring, you will have UP TO the limit of the itemized appraisal and itemized insurance value.

Example.

Bought ring in 2002 for $5k
Appraised ring in 2002 for $10k
Approx Retail Replacement value is $8k.
It's now 2008.

You find a ring you like with your jeweler of choice for around $8k or less. You're fine.
You find a ring you like with your jeweler of choice for around $9k-$10k. You may be okay (JM will haggle with the Jeweler.)
You find a ring you like with your jeweler of choice for around $11k+. JM will pay $10k and you will pay the difference.
 

2012bride

Rough_Rock
Joined
Nov 13, 2011
Messages
1
Hi there Mary2012, can i ask you what happened in the end - did you file a claim with JM and if so how did you get on? I was so sorry to read about your lost ring but a similar thing has just happened to me (my new engagement ring has just been stolen) and i am heartbroken. It happened yesterday, i only got engaged a couple of wks ago so my policy with JM is literally only a few days old. I can't stop crying, I can't sleep, eat or think of anything else at the minute and am just terrified that if i have to make a claim it will be rejected. I am just sick at the very thought of this whole process. All i want is my own ring back. I am more upset for my fiance who put so much money and effort into getting me this ring, and the engagement was a complete surprise.
Please please tell me you had a good experience
 
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