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  • 1300 882 018

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Frequently Asked Questions

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What will Q Report protect my jewellery against?

A Q Report policy provides coverage against loss and damage to your jewellery. If your jewellery is lost, stolen or damaged, with Q Report you can make a claim to have your jewellery replaced or repaired.

Why should I choose Q Report over other providers?

With Q Report, you’re speaking to people who live and breathe jewellery; not insurance salespeople. We come from a jewellery background and know that when it comes to insuring jewellery, it's different from other items you may insure. We have a thorough appreciation for both the workmanship and the quality of your gems and jewellery.

 

Your jewellery will be covered inside and outside the house as well as worldwide while you travel. It is also an Agreed Value policy, so you can be certain how much will be paid in the event of a claim. You’ll also be able to return to your original or preferred jeweller in the event of a claim.

 

If you need to make a claim, you will deal directly with us. We won’t pass you from department to department or offload you to some other unrelated service provider. We’ll guide you through every step of the process and be there for you whenever you need us.

 

Let’s not forget the fact that we have extensive experience in jewellery claims and have an impeccable track record for the last 13 years. Don’t take our word for it. Read our reviews and testimonials and see for yourself.

 

So if you love your jewellery, you’re going to want a Q Report.

Do I need jewellery insurance if I have home contents insurance?

Every insurance policy is different, as is each person’s circumstances. So we cannot comment on your home contents insurance policy. But we would suggest that you call your insurer and/or read the fine print to find out answers to the following essential questions:-

 

  1. Is my jewellery covered when I wear it outside of the house?
  2. What if I travel with my jewellery (interstate or overseas)? Will it be covered? For how long and are there any other restrictions?
  3. If I lose my jewellery and need to make a claim, will the full insured value be paid? Or is it up to the insured value?
  4. In the event of a claim, will I be able to choose the jeweller to repair or replace my jewellery or will I have to go to the jeweller you choose?
  5. What happens if the value of my jewellery changes? Do I have to get it revalued every year and send you an updated revaluation?

 

If you are not satisfied with your home contents insurer’s response to these questions, give us a call so you can see if our policy better suits your needs.

My jewellery came with a warranty. Is this different to insurance?

Yes. Warranty and Insurance are very different.

 

Warranty is intended to cover consumers for manufacturing defects for a limited time. It’s a guarantee that a product has been made correctly and that you are getting what you paid for.

 

Insurance will cover you for things like accidental damage, loss and theft.

 

When it comes to warranties, most products (including jewellery) are covered under Australian Consumer Law. In simple terms, when you purchase an item of jewellery it comes with an implicit warranty that you could wear it normally and if after say the first few weeks it broke or stones fell out, you should be covered under warranty. However, if you dropped the ring on a concrete floor, or your finger got hooked on an object which pulled it out of shape, this would be your responsibility unless you had insurance.

Worldwide coverage – What does this mean? Are there any exceptions?

The Q Report policy provides coverage to Australian residents while travelling worldwide anywhere in the world except to and from Cuba, which is subject to certain restrictions.

 

So you can travel around the world with absolute confidence that you have insurance coverage for your jewellery if your jewellery was insured with Q Report.

What does an “Agreed Value” policy mean?

Agreed Value means that in the case of an approved claim for a total loss, we pay the full sum insured amount on your policy (less the $100 excess). Some policies won’t pay the full amount shown on your policy if they can replace your item for less by using terminology like you are insured “up to the sum insured”. It’s all in the fine print.

What does 125% cover mean?

As diamonds and other rare gemstones and metals are traded in US Dollars, currency fluctuations could impact on the ability to replace your item of jewellery.

 

This is why our Q Classic policy provides up to 125% cover. Meaning, in the case of a claim for a total loss, at our discretion, we may recommend that an additional amount up to 25% of the insured value could be applied to your claim. This is at no additional cost to you, so as to put you back into the same position you were prior to your loss.

 

For example, you bought a ring for $10,000. The Australian Dollar drops substantially against the US Dollar. Your ring was stolen and you need to make a claim. Your jeweller can no longer replace the ring at $10,000 due to the currency fluctuation. In this case, we have the discretion to add up to 25% ($2,500) to the claim settlement paid to your jeweller so your jeweller could replace the ring and put you back in the same position that you were prior to your loss.

Who underwrites the Q Report policy?

Chubb Insurance Australia Limited, ABN 23 001 642 020, AFS Licence No 239687.

What do you need from me to insure my jewellery? What if I don’t have all of the documentation required?

If you purchased your jewellery through a Q Certified Jeweller, in most cases they can insure your jewellery at the point of sale without you needing to provide any further documentation.

 

In all other cases, we’ll usually need copies of the following documents:-

  1. Receipt of purchase
  2. Photo of jewellery (top and side view)
  3. Valuation
  4. Diamond / Gemstone certificate (if applicable)
  5. Proof of possession – take a photo of the item in front of a document with today’s date (e.g. a newspaper or receipt)

 

For watches, we also need

  1. Warranty Card
  2. Photo of the back of the watch

 

If you don’t have all of the above, that’s not a problem. Send us what you have and one of our consultants will review it and we’ll come back to you if we need anything further.

Do you insure at the purchase price or valuation price? Can I insure at the higher valuation price or nominate the value I want to insure at?

We generally insure at the purchase price if it’s a recent purchase (within 12 months) or the current market replacement if it’s an older purchase. While we do consider the valuers pricing as shown on valuations, we will make our own determination based on our own algorithms and market data. We do this so that you will not be paying an inflated premium, or conversely, that you won’t be underinsured. In some cases, we will also speak with your jeweller to ensure that they can replace that item for you at the figure they have nominated as today’s replacement figure.

 

We are confident that we will insure your jewellery at the correct figure. There are factors such as currency fluctuations that are simply out of our control, so our 25% buffer on our Q Classic policy gives you that extra peace of mind.

 

Remember, Jewellery Insurance is all we do and we believe, as do our customers, that we are very good at it!

How long does it take for the insurance to take effect?

Coverage is instant from the moment payment has been successfully received. You will automatically receive a Confirmation Advice confirming you are covered.

Who is covered under my policy?

The person listed on the policy and their spouse (legal or defacto) who lives with that person is covered.

What can I and can’t I insure with Q Report?

Q Report insures all new and existing jewellery and watches that are in good condition.

 

We don’t insure:-

  1. Jewellery in poor condition or severely damaged
  2. Loose diamonds and gemstones
  3. Gold bullion and loose coins
  4. Artefacts
  5. Ivory

How can I make payment for my policy?

Payment can be made by credit card (Visa, Mastercard and Amex) either online or over the phone.

 

For renewal payments, you can also pay by Direct Deposit or cheque.

Can I pay monthly?

Yes. We have a monthly instalment payment facility as an option for you.

 

It is more cost effective to pay annually, but some of our customers prefer to pay by monthly instalments.

 

The additional cost of choosing the monthly payment option is 10% over the course of 12 months. For example, if your annual premium is $300 and you chose to pay by monthly instalments, you would end up paying $330 over the 12 month period.

Can I reduce my premium by increasing the excess?

Unfortunately, not. The excess on a Q Report policy is fixed at $100 and we cannot adjust the premium on the policy.

My item is over $50,000 and I can’t proceed online. What do I need to do?

Due to the high value of the item(s), we need a little more information before we can proceed with your policy. One of our consultants will contact you to go through a few questions regarding home security measures and travel arrangements etc.

 

This process won’t take long and we’ll aim to get you insured as soon as possible.

What happens when it’s time to renew my policy?

As part of the renewal process of your Q Report policy, your jewellery will be analysed by our proprietary software and our expert in-house jewellers. They will look to see if there have been any changes to the costs of raw materials, and how that may impact on the value of your jewellery as well as the value of your jewellery or watch in today’s market. We do this revaluation at no charge to you

 

Following this revaluation process, you will receive an invitation to renew your policy 28 days prior to the expiration of your policy. At that point, you will have the option to either pay the annual policy amount payable or pay by monthly instalments and be insured for a further 12 months.

What happens if the value of my jewellery changes?

Because both precious stones and the metals that they are set in may fluctuate in price, at Q Report we offer a complimentary service whereby we revalue your jewellery or watch every year at no charge to you. This way, we make sure that your item of jewellery is insured at the correct value in the case of loss or damage.

I want to add another item of jewellery to my existing policy. What do I need to do?

Simply email info@qreport.com.au with the following:

 

  1. Q Report policy number (this begins with RP)
  2. Receipt of purchase
  3. Photo of jewellery (top and side view)
  4. Valuation
  5. Diamond / Gemstone certificate (if applicable)
  6. Proof of possession – take a photo of the item in front of a document with today’s date (e.g. a newspaper or receipt).

 

For watches, we also need

  1. Warranty Card
  2. Photo of the back of the watch

 

If you don’t have all of the above, it’s rarely a problem. Send us what you have and one of our consultants will review it and we’ll come back to you if we need anything further.

What do I need to do in the event of a claim?

In the case of a claim, you will need to notify us directly. You can either call us on 1300 882 018 or email us at claims@qreport.com.au .

 

We will then guide you through the next steps where we will require a statutory declaration, and a police report (if lost or stolen).

 

We will then take care of the rest and liaise with your jeweller and the underwriter and keep you updated along the way.

How long does the claim process take?

It largely depends on how long it takes for you to send us your Statutory Declaration and Police Report (if applicable).

 

Assuming there are no problems and we don’t require any further information, claims are usually processed and approved within 5 business days. Although, we have had cases where this process has been completed within 1 day.

I’ve been dealing with my trusted jeweller for years and only want to use them in the event of a claim. Will this be a problem?

That we love to hear!

 

At Q Report, we appreciate the relationship you may have with your jeweller. We’ll always suggest that you go back to your original or preferred jeweller in the case of a claim. We will not dictate to you where you need to go to repair / replace your jewellery.

I purchased my ring overseas. What happens if I need to claim?

We regularly deal with jewellers from all over the world. If you wanted to make a claim and have your jewellery repaired or replaced by your jeweller overseas, we will liaise directly with that jeweller to get the necessary information to get your claim finalised as soon as possible.

 

Our Head Office team are also able to speak many languages so this makes the process much easier.

Can I get a cash settlement if I make a claim?

The aim of our policy is to put you back into the same position you were in prior to your loss. This means to replace the item jewellery in the case of a loss or repair it in the case of damage. In certain cases where it is impractical to replace or repair the item easily, we will discuss with the Insurer the cash settlement option.

Can I cancel my policy?

Yes, you may cancel your policy at any time by notifying us in writing of the future date that the cancellation is to take effect.

 

We will then refund to you the balance of the unused premium on a pro rata basis.

 

For new policies, there is a 14 day cooling off period where if you choose to cancel your policy and notify us within 14 days of the inception of your new policy, we will refund the full amount of premium paid by you (note the Policy Setup Fee is non-refundable).

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Q Report

Jewellery Insurance

Protect the things you love

Q Classic

If your jewellery means something to you, it deserves to be protected. Your Q Classic policy is designed to provide comprehensive cover for items $5001 and over.

Q Pocket

Jewellery doesn’t need to cost tens of thousands of dollars for it to be priceless. Your Q Pocket policy protects your jewellery with specialised cover and generous policy benefits.

Watch Insurance

Jewellery doesn’t need to cost tens of thousands of dollars for it to be priceless. Your Q Pocket policy protects your jewellery with specialised cover and generous policy benefits.

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