How can using an experienced jewelry consultant save my company money?
Initial review of new jewelry coverage policies confirms that supporting appraisal description and valuation are accurate, and that the insurer's limit of liability is reasonable for comparable replacement. Frequently retail jewelers inflate stated replacement values to either "flatter" the owner of an existing item, to convince a new purchaser that he is getting a "deal" below regular retail pricing, or in the case of an appraiser unfamiliar with the market value of the appraised jewelry, to "cover" the appraiser in case he underestimates the true value of the item.
By reviewing new applications for coverage these false values can be corrected prior to the issue of coverage, and protect the insurer from undue, and unfair, loss.
Today's economic climate has given rise to an increase in questionable claims under standard Inland Marine Policies, and a company's adjusters are increasingly asked to make decisions on the accuracy of jewelry claims. Inaccurate appraisals, in conjunction with fraudulent claims, can cost an insurer untold losses in settlements. Inaccurate appraisals are best reviewed and corrected prior to loss. Fraudulent claims can be investigated on an as-needed basis, and can be as simple as an individual claim, to as complex as the loss of a store's entire inventory through a dubious theft. Investigation services can be arranged for any size of questionable claim.
Can you help me recover my company's loss when broken or damaged jewelry is returned to us?
Yes. Frequently local claims service centers are authorized to dispose of reclaimed or damaged items, and often either sell the items to local jewelers or through internet sites. Keith Rivenbark can maximize your recovery dollars by working in your best interest, not the best interest of the purchaser. Damaged stones can be repaired to maximize return, and gold can be refined for maximum dollar recovery, without your company losing margin to jewelers or individuals interested in reselling recovered items. Using long established ties in the jewelry trade, Keith Rivenbark can help you develop relationships with manufacturers able to pay you maximum recovery dollars.
How are evaluations processed?
Documentation for evaluation may be sent via fax or e-mail to the office of Keith Rivenbark GG and you will receive a reply quickly, usually within seventy-two hours.
What does this cost?
A typical evaluation costs $50, with very simple evaluations (such as a basic heavy gold bracelet or chain) as little as $20, and unusually complex evaluations (such as a broach with multiple large diamonds) priced according to the time estimated to accurately research and establish a true replacement cost. You will be contacted for approval before complex evaluations begin.
What is included with a policy evaluation?
The policy is reviewed for accuracy of description, and stated replacement values are verified as reasonable. You will be provided with the source of a comparable replacement and its wholesale cost, a reasonable retail mark-up percentage, and local sales tax. This itemization will help guide your adjusters in making fair, reasonable and prudent decisions when binding or replacing your client's jewelry.
How will my company be billed?
A bill for services will accompany each processed evaluation. Unusual services payment will be billed upon completion.