Jewelers Mutual in Canada!

[ChunkyCushionLover]

If Jeweler''s Mutual does pay out on cost price or replacement cost and instead tries to pay out some other way its a lousy policy and not worth it. I am surprised if they insist on going to a canadian jeweler, they specialize in jewelry and should not be playing that game.

 

[sfritz]

To answer your question, I asked the vice president of our Personal Jewelry Insurance division.

Here is his answer: Our Personal Jewelry Insurance insureds can work with the vendor of their choice as long as the vendor is willing to work with us, i.e., provide us with the necessary information and agree to our replacement process. We will make every effort to work with our customers to make sure the item is replaced to their satisfaction. Limits of insurance for Canadian residents are in Canadian dollars. Be sure to select a limit sufficient to cover any potential future losses.

Sue Fritz
Jewelers Mutual Insurance Company

 

[ChunkyCushionLover]

Date: 2/5/2010 12:49:44 PM
Author: Sue Fritz


To answer your question, I asked the vice president of our Personal Jewelry Insurance division.

Here is his answer: Our Personal Jewelry Insurance insureds can work with the vendor of their choice as long as the vendor is willing to work with us, i.e., provide us with the necessary information and agree to our replacement process. We will make every effort to work with our customers to make sure the item is replaced to their satisfaction. Limits of insurance for Canadian residents are in Canadian dollars. Be sure to select a limit sufficient to cover any potential future losses.

Sue Fritz
Jewelers Mutual Insurance Company

Sue,

At PS the majority of posters have at one time purchased from a US based Pricescope vendor. It is trivial to convert any purchase in US dollars into a Canadian dollar equivalent and add on the appropriate Canadian taxes that would be charged in Canada. However will JM really make the process difficult for us to do so? There is no Canadian equivalent to the highly competitive Pricescope vendor market.

What is your replacement process? Why aren't you just paying the insured the sale price or the appraisal process(the insured value) and letting them purchase as they like?
Why should JM be involved in the replacement process and why should there be any restrictions on that at all? Pay out in Canadian dollars and let the insured choose based on this payout.

I strongly disfavour insurance companies that try to reduce payouts by meddling in the replacement process and who try to "wholesale" the replacement process to their benefit. I have not heard of any Canadian insurance company that it this way is your process different?