About Insurance

Insurance is not our field of expertise. Based on our experience, however, two (2) fundamental forms of insurance can be procured for your fine jewelry: "Replacement Value" and "Agreed Value."

A "Replacement Value" policy generally mandates that your Insurer has the right/maintains the option, in the event of a loss, to shop-around through their authorized replacement sources for a comparable item of "…like kind and quality." If they can locate what they think or have been led to believe is a "comparable item" with a cost less than the Appraised amount, that is what they pay. We feel the terminology "replacement value," "full replacement value" and the like to be misleading to consumers. Ask your licensed Insurance Professional.

An "Agreed Value" policy generally mandates that you and your Insurer agree to the value of an item beforehand. In the event of a loss, they pay. Minimal hassles, haggling and aggravation to you, the consumer.

Naturally, the premiums for the "Agreed Value" are greater than the "Replacement Value."

Your best option is to review your option(s) for insurance and requirement(s) with your licensed Insurance Professional. Some good questions to ask might be:

  • which item is Scheduled?
  • how old are the Appraisals?
  • what happens if there is a Loss? Theft? Damage?
  • will we get the full amount of the Appraisal?
  • will the Insurer force me to go to their authorized replacement source?
  • my item is a custom Kebadjian original.
    1. What happens in the event of a claim?
    2. Will I be forced to accept a generic substitute from a retail store I don't know?
    3. Will the Insurer replace with a Brand piece?