As your claim progresses JVC Claims provides the following services. Your insurance company may ask us to perform any one or more of these steps.
1. ITEM VALIDATION
A qualified and experienced JVC Claims team member will discuss your insurance claim with you. This step involves identifying and verifying the item you’re claiming for. We use your description and any documents you can supply as evidence to arrive at a validated description.
The more accurately you can describe the item to us, and in particular the more documented proof such as valuations, receipts and warranties you can provide, the more accurate our valuation will be. Documented proof of your jewellery items is the best way to reassure both you and your insurer that your settlement is fair and complete.
From the validated description we provide a replacement cost and market valuation for each item. Which value applies to your claim depends on your insurance policy and how your claim is settled.
Replacement Cost is the cost for you to replace with an equivalent of your item with no deduction for depreciation or wear and tear.
Market Value is the cost for you to purchase an equivalent of similar age, quality and condition as your item was in at the time of loss.
3. SETTLEMENT PROPOSAL
We work with you to propose a settlement to your insurer that is fair for the jewellery you’re claiming for and in line with your policy terms.
Most insurers prefer to replace where possible and we recommend a choice of jewellers who are able to replace your jewellery.
If your jewellery cannot be replaced, or you choose not to replace we recommend a cash settlement in line with your policy terms.
Our settlement proposal fully informs your insurance company as to the best options for settling your claim for them to review and approve.
Once your insurance company has agreed to your claim settlement we can manage the reinstatement of your jewellery.
GemSelect card – stored value card giving you the widest choice of jewellers to select replacements from.
JADEX tender – provides accurate and cost effective replacement of high value items through comparative quoting.
Direct purchase authorities – allocating the replacement to specific jewellers throughout NZ.
Our specialised repair team will need to examine the damaged item and ensure that a damage event has occurred.
JVC then create clear work specifications of the repairs required, so the jeweller and insurer know exactly what needs to be done for a full and complete repair.
Finally, once your claim is approved we manage the repair through the appointed jeweller and ensure the work required has been completed to a high standard.
JVC Claims has an efficient salvage processing system. We accurately assess the item and recommend the best method to get a maximum salvage recovery.
Once approved, JVC Claims can manage the salvage for the damaged gemstone, the recovered jewellery, or the damaged jewellery – providing the insurer with the best possible return from the market.