FREQUENTLY ASKED QUESTIONS
Answering your frequently asked questions regarding our products and services.
Providing comprehensive answers to general inquiries regarding the insurance claim process, jewellery manufacturing, diamonds and gemstones, and much more.
Frequently Asked Questions
Why Hennick & Company Jewellery
The Insurance companies have been utilizing the expertise of Hennick & Company for over 35 years. Our Insurance Division Team is knowledgeable in both the insurance requirements and jewellery replacements to make this service as seamless as possible.
Does Hennick & Company work for an Insurance company?
No, Hennick & Company is completely separate from the insurance companies. We act as an impartial third party, so both insurance adjusters and the insured can feel confident and comfortable with our valuation.
Is Hennick & Company open to the public?
Yes, Hennick & Company only takes clients by appointment. Typically those appointments can be made through the insurance industry, you can also make an appointment by contacting us.
If you do not sell to the public, can I shop here?
Yes! Hennick & Company extends our exclusive services to our referred insurance claims clienteles. We ask that you make an appointment before visiting so we are able to assist you in a timely fashion.
Can I have the replacement quote done while I wait and take it with me?
Yes. The detailed report will be done while you wait though the information will be forwarded directly to your adjuster at the end of the meeting (who is handling your claim) to expedite the replacement process.
When will my adjuster receive this report?
Our reports are emailed directly to your adjuster shortly after our interview. From there your adjuster will be in contact with you shortly regarding our report.
How long is the interview?
We allocate 1 hour for each interview. In most cases it does not take the full hour, however, we allocate an hour so you can take your time and be comfortable with the process.
What should I bring?
Please bring a complete list of your missing jewellery. If possible, bring photos, receipts and/or old appraisals. Regardless of the size of the jewellery piece in the photo our high magnification should be able to determine the design.
Why are your prices so much lower than what my jeweller has quoted to replace the same jewellery item?
Hennick & Company is a manufacturer of fine jewellery not a retailer. We also purchase stones directly from the mines all over the world. Through your insurance company, you are given the opportunity to purchase directly from the manufacturer.
I have a $500 deductible. Do I pay you or my insurance company?
Hennick & Company invoices your insurance company for the total amount of the jewellery item that you had replaced. The insurance company will then pay the whole invoice with the exception of the deductible, which we will then have to collect from you. You can pay the deductible by cheque or credit card at the time you pick up your jewellery.
How long will it take to make the jewellery?
It will take approximately two to three weeks depending on the type and design of your jewellery. We will keep you and your adjuster in the loop with every step of the process as you recreate your favourite pieces.
Can you make the same piece of jewellery I am missing again?
Hennick & Company does a remarkable job at custom making jewellery. We can easily duplicate your missing piece if all the details can be seen from a photo and qualities stated on an appraisal.
Will I be getting the same quality diamond and jewellery as I had?
Hennick & Company will match if not surpass every quality of your original diamonds and the workmanship as you previously had. Our diamonds are independently certified, so it is not solely our opinion but an Independent Company’s opinion of Carat, Colour, Clarity and Cut.
What happens if I do not replace my jewellery and ask my insurance company for a cash settlement instead? Do I get the full amount of my jewellery?
This really depends on your insurance company and your policy. Every insurance company is different. Some insurance companies may depreciate or discount the loss while others may not. Everyone’s policy is different; therefore, this has to be discussed with your insurance adjuster.
Can I take the jewellery home today?
In most cases, you cannot take the jewellery home the same day unless the insurance company has given a pre-approval. We have to make sure that your insurance company approves the replacement and will be paying Hennick & Company directly before we release any jewellery. We will get the approval from your adjuster prior to the completion of your custom piece.
Why are appraisals’ dollar amounts higher than what was initially paid for the jewellery item?
The differentiated value is necessary to cover the taxes and market fluctuations such as the rising price of gold or diamond price values.
Do you have to update an appraisal?
Yes. Larger valued items over $1,000.00 should be updated every 3 – 5 years. It is also important to get updated appraisals for any repair work that has been completed such as re-sizing or replacing diamonds. It is important to update appraisals for insurance purposes, so your policy is adjusted accordingly.
Can a diamond chip?
Yes. Once mounted into a ring, a diamond can chip due to an impact. The MOHS scale is a scale that measures the hardness of Gemstones from 1 to 10. Diamond is the only Gemstone measuring a 10. But no matter how hard a Diamond is, it can still chip. The edges (girdle) are the weakest part of the Diamond as it is thin and vulnerable. Prongs will be spaced around your diamond’s edge to help protect it from chipping.
What methods of payment do you accept?
Cash, Cheque, Visa and MasterCard
Do you have a warranty?
Yes. One year from the pick-up date, we will resize the ring and if there is a fault in the product due to manufacturing, we will repair it free of charge.