Q. You can’t see my jewellery because it’s gone - How can you posibly Value it?
A. We have alot of experience in jewellery claims evaluation, and we have developed our own unique processes to ensure you get a fair and reasonable valuation. Please answer our valuer's questions as best you can. The more information you can provide for us, the more likely our valuation will be accurate.

Q. Why does my Insurance Company want you to value my jewellery claim? Canʼt I just go to a Jeweller to select new jewellery?
A. The insurance claim process is in two parts. An initial assessment or valuation of the claim is necessary and once this has been completed the claim can be settled. Here at JVC Valuers we help only with the first part of the process – the valuation. This makes the second step – the settlement – more straightforward. Once JVC Valuers have completed their valuation you should talk to your Insurer about going to a jeweller for replacement

Q. How long will it take to settle my jewellery claim?
A. There are many factors that can influence this. However, we are committed to doing our role in a timely way. 80% of our valuations are completed within five working days of being assigned to a valuer. Bear in mind that commonly the larger the claim, the longer it will take to settle.

Q. Will I get a choice of Jewellers to replace my Jewellery from?
A. Our replacement valuations are the average price across a range of retail jewellers, except where an item is unique to a particular jeweller. We also find the Insurance Company will where posible give you a choice of Jewellers who stock jewellery similar to what you’re claiming for, for you to choose replacements.

Q. I'm upset about the burglary and I'm not sure about having that much jewellery in the house again. Will I have to buy replacement jewellery?
A. There are two types of policy cover offered by Insurance Companies - replacement and market (indemnity) cover. How your loss is settled will normally depend on your policy. Under a market value policy, there may be no option for you to replace. If you have a replacement value policy the Insurer will probably want to replace rather than pay a cash settlement.

Q. I’ve heard two different values for my jewellery mentioned - replacement value and market value. What’s the difference?
A. Once the terms have been explained to you, the differences between replacement and market values are quite straight forward! We use the same definitions used by and recommended by the Insurance & Savings Ombudsman;
Replacement Value is the cost to purchase a new item of similar quality on the retail market.  For production items it is for items of the same production method which are similar, but may not be a replica.  Handmade items are valued at the cost to have remade as closely as possible.  Antique articles are valued at the cost to purchase an equivalent on the estate jewellery market.  Foreign items with no new equivalents, may be marked ‘Not Applicable’  to indicate an inability to replace in New Zealand. 
Indemnity Value, which can also be called market value or present day value, is the cost to purchase an item of the same age, quality and condition in a “fair market” situation.  Where few sales of similar items have occurred, indemnity may be calculated at Replacement value less depreciation.

Q. I’ve gone to a Jeweller to purchase replacements and they are quoting more to replace than the JVC valuation. Why is there a difference?
A. JVC Valuers makes every effort to value items at a normal retail price, so we are confident a jeweller should be able to sell you an equivalent item at our replacement value. We find there's two common reasons for the difference.

Firstly, your settlement offer is for Indemnity value, not Replacement value. We acknowledge you won't be able to replace with new jewellery for Indemnity Value. But this is an issue with the type of policy cover you have, not the valuation.

Secondly, a jeweller may quote you on exactly replicating an item that was originally mass produced. The item you lost may no longer be produced. JVC would have valued your item as an equivalent item, not an exact replica. If a jeweller did replicate what had been a mass produced item, the replacement would actually be better quality than what you originally had.

Q. My Jewellery was very sentimental, and while the Insurance Company have been very fair I still hope to recover my jewellery one day. What is the chance of this? What will happen if it does get found?
A. Unfortunately, not alot of jewellery is recovered. The Police do often contact us when a quantity of jewellery is recovered. If your jewellery is recovered and your claim was already settled, the Insurance Company are technically the owners of it. However, they will offer it to you, usually with you having to return whatever you were given as claim settlement.