Why should retailers consider using your company?
Centrestone offers insurance specifically designed for jewellery, ensuring that clients’ valuable pieces are comprehensively protected against damage, loss and theft. With a technology driven platform that seamlessly integrates with jewellers normal sales processes, Centrestone is built for jewellers who want to provide the best after sales service for customers.
Centrestone provides the most comprehensive jewellery insurance policy in Australia including worldwide cover for accidental damage, loss and theft. The policy also includes 150 per cent cover of the insured amount to protect customers from increases in replacement costs, and a $0 excess in the event of a claim.
The question isn’t so much why should jewellers introduce Centrestone to their customers, but what happens if they don’t? If specialised jewellery insurance is not introduced to the customer, most customers will end up either not insuring their jewellery or insure it under home and contents.
This results in poor outcomes for the customer in the event that they suffer any damage, loss or theft of their jewellery, as even under home and contents insurance it is rare that the customer will be fully covered.
Centrestone has written in the PDS that in the event of a claim the customer can receive the repair or replacement from their preferred jeweller, meaning all claims go back to the referring jeweller.
Introducing Centrestone Jewellery Insurance to customers is a premium add on service that provides the customer exceptional after sales care and gives them the option of protecting their jewellery comprehensively.
Why do customers want to be introduced to Centrestone Jewellery Insurance?
The proof is in the data. Centrestone is offered to customers through hundreds of jewellery retailers across Australia, and of all the customers who are sent the quote information about Centrestone by their jeweller, 67 per cent of customers end of proceeding with the cover.
Centrestone gives customers peace of mind knowing their jewellery is covered and that in the event of a claim, they can go back to their preferred jeweller.
By offering an insurance option, jewellers demonstrate a customer service commitment to their client’s long-term satisfaction, and goes a long way to retaining customers for repeat sales.
Insured jewellery can protect jewellers from potential disputes or dissatisfaction if a customer’s uninsured item is lost or damaged.
Jewellers often bear the brunt of customers dissatisfaction when an item is damaged. If the item is insured, the cost of repair is then covered under the policy instead of becoming an issue that the customer claims is a jewellers manufacturing default.
Centrestone is known for its streamlined and efficient claims process, making it easier for customers to recover their losses quickly and without hassle.
Claim invoices are paid to jewellers in advance of the repair or replacement being completed, a stark contrast to the normal insurance practice of forcing jewellers to complete the repair or replacement and then get paid months later.
Offering insurance is an additional service that can differentiate a jeweller from competitors, adding value to the customer’s purchase experience.
What unique benefits does your business offer?
Centrestone Jewellery Insurance offers several unique benefits that distinguish it from its competitors.
Centrestone provides every customer of partner jewellers with four days of free cover of their jewellery, so they are covered before they walk out the door. It’s free cover, meaning a $0 premium and $0 excess if there is a claim in the first 4 days.
Centrestone guarantees a like-for-like replacement from the customers preferred jeweller, meaning peace of mind for the customer (that they get their jewellery item back) and the jeweller (that they retain their customer and get to complete the claim).
Centrestone also provides up to 150 per cent of the insured value to account for price increases in the replacement cost, ensuring that any fluctuations in costs are covered. This means customers won’t be out of pocket if the cost to replace their jewellery has increased since you insured it.
Unlike many insurers, Centrestone does not charge an excess on claims. When it comes claim time, the customer is already hurting when their item has been damaged or lost, so no excess to make a claim streamlines the process.
This can significantly reduce out of pocket expenses in the event of a loss or damage as often the excess under home and contents can be anywhere from $500 to thousands of dollars to make a claim.
Centrestone offers policies specifically tailored for jewellery and luxury watches, including free annual revaluations to ensure the items are insured for their correct replacement value. This level of specialisation is not typically found in standard home and contents insurance policies.
Centrestone’s quick and efficient claims process means claims are settled within days, not months.
The value of insurers is only shown when it comes time to make a claim, and Centrestone prides itself of having an average claim turnaround time of less than 24 hours between receiving all the requested claim information from the customer and providing the claim outcome.
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