[Jewelry making - Article 00352] - Re: [Orchid] Insurance for jewelers?

[David S. Geller]

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    For those of you who constantly argue with me about... 

    Asking customers for values on their envelopes: 

    You argue that it's a free appraisals, you don't want the back and
    forth with the customer, yada, yada, yada. 

    I just spoke to a small-medium size jeweler in California who wanted
    to get verbage on his job envelopes. 

    They NEVER asked values and thus underinsured customer's jewelry by
    SEVETY-FIVE THOUSAND DOLLARS. 

    professional job. The burglars came through the roof at night, undid
    all alarms, and used a sledge hammer on siren and bells. They used
    that "plasma" torch and cut right through a TL15 safe. 

    3 months ago they NEVER asked customer values. 

    No they ask EVERYONE. Amazing how you can do it. 

    You need to put values so you can add them up 2-3 times a year so
    you can talk intelligently to your insurance agent. 

    You can figure an AVERAGE of $1000 of value per envelope as a start.
    350 jobs = $350,000. easy! 

    We'd keep 450 jobs in the store and insured customers jewelry for
    $450,000.00 

    My bill with Jewelers Mutual was $11,000 per year. 

    I liked being insured. 

David Geller



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