Help on getting Jewelry Mutual Insurance with Leon''s email Quote.

[GoodSoul]

Hi,

I''m pretty sure that I''m getting a Leon Mege setting and have started to inquire about the JM insurance for loose stone to be setted.

I got a response from JM that I need an official quotation with LM''s official letterhead in order for them to insure this and the email quote is not good enough.

For all the LM''s owners out there (who are out of state), how do you handle the insurance process for LM''s work? Does Leon provide an official quote with Letter Head? I know that a firm work order (although not sure if it''s email or proper one with letterhead) will be drawn up when he receives the stone but I am hoping to insure it before I ship it out.

Thanks for your advice.

 

[neatfreak]

I would just call Leon and ask him. I am sure he''d provide what you need if you explain it is for insurance.

 

[GoodSoul]

Thanks Neatfreak. I kind of spoke to Leon before on this. He initially didn''t even want to quote me till he sees my stone and when I told him that I want to be sure that I can afford him and also to get the insurance before I shipped out, he asked me why I need insurance when the shipping is insured and he''s insured. He then followed to say, that''s my choice to have better protection. He gave me a verbal quote then. When I emailed him to get a more precise quote, he gave an email quote but that was not acceptable according to that JM rep. I will probably call Leon again but is just wondering how the other folks handled it.

Thanks.

 

[swingirl]

What is it that your insurance company wants? The value of the stone? I did not have any additional insurance on my stone when I mailed it to Leon. Registered mail insured it for the cost. I don''t think I was able to insure a loose stone when I checked on insurance.

 

[GoodSoul]

Hi Swingirl,

From what I read from PS, only Jewelry Mutual (JM) insures for loose stones that are to be setted within 30 days (it must be sent to jewelry to set within this period). The shipping insurance will cover the stone... and while Leon was insured for the lost of the stone, he does not provide any insurance if he chips or crack the stone during setting.

What JM wants is a official value of how much the setting is worth (official quote with letter head) + the loose stone appraisal so that the whole thing can be insured. I have the latter and is now working on the Leon''s setting value.

Thanks.

 

[swingirl]

You mean JM won't accept Leon's written quote? What else do they want?

Or won't Leon provide you with a written quote?

 

[ymmt]

I went through the same process just last week, although I live in NYC and met with Leon in person. I went with JM as well, and had originally sent over a stone appraisal and a email quote. I never got a response on whether the email was enough since I subsequently sent over my LM work order/invoice a day later.

I do not think Leon will write up the work order without your stone, since he draws designs and makes notes on it. But just if you do decide on Leon, tell him to fax over the work order (or email it) and then you can forward it over to JM.

Edit: Forgot to add that the work order does indeed have the LM letterhead.

 

[neatfreak]

GS: If Leon insures your stone against loss just not against cracking/chipping, if you send your stone to Leon and he faxes/emails you a work order before he begins work (which I assume is status quo) you can then in turn just email or fax that work order right over to JM before Leon even starts work on your ring. Shouldn''t be a problem as he won''t be setting your stone for probably a few weeks.

 

[denverappraiser]

Have Leon call me and I’ll walk him through how to do it. It’s not hard.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Jewelry Appraisals in Denver

 

[GoodSoul]

Swingirl : Leon has given an email quote which JM rep said it's not good enough. I will probably speak to him again for a quote on a letterhead. Thanks.

ymmt : thanks for sharing what you did. I was confused as one JM rep said the an email quote with specs (e.g. stones and carat size and etc) is good enough... whereas another JM rep who saw the email quote said it's not good enough. I may just call JM again to confirm. Thanks for sharing that the work order is on his letterhead.

neatfreak : I may just do what you said but I was hoping to insure it before shipping as I want to ship it via Fedex or UPS overnight delivery. Reason being that I'll be out of country for around 4 weeks by end this week. Was hoping to finalize everything before my trip. As I know that these do not insure, thus, was hoping to get JM since they cover shipping as well. If LM does not provide Letterhead.. then I will probably just go with USPS and do what you suggest. Thanks!

denverappraiser : Really appreciate your offer!! You are too kind. Thanks in advance. Will see how it goes after speaking with Leon tomorrow. Thank you.