Question
If you have a warranty on jewelry but the jewelry store (chain) goes bankrupt and closes?
does that mean you are screwed if the jewelry breaks? I didn't think of that. It cost $6000-7,000 and the estimate to repair was $900. Its my wedding/engagement ring, very important to me but $900 is a lot of money, especially when I could use it for a down payment on a much-needed new, bigger vehicle. Grrrr!
4 weeks ago - 3 answers
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Yup. The thing is, those warranties are really impossible to cash in on. It's very hard to prove that the jewelry had a manufacturing defect as opposed to being broken by force. We rarely had to replace or repair something that was defective. We made so much money on our warranty! You need to have it insured on your homeowner's/ renter's insurance. You may have to buy a rider policy, but that should take care of all your jewelry, and you don't have to go back into the jewelry store every 6 months. (They only have that rule so they can sell you something.) That sucks. You probably would have had to pay anyway. I doubt it would have been covered. What needs to be done? Maybe you can get it done cheaper . . .
Source(s)
<-- former retail jeweler, at a fancy, nice store
4 weeks ago
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Other Answers
if it's insured, you could make a claim on it. (if it's worth it) otherwise, i guess you just have to pay out of pocket to have it fixed/replaced
by Green Is Sexxxy- 4 weeks ago
Depends on whether the warranty was issued through the store or through the manufacturer (many chain stores buy from wholesale or outside vendors). My guess is it was a store warranty, as most are with jewelry. In that case, you might search online (or call any 800 #'s listed in the warranty paperwork) to find out if any other larger chain absorbed the store during the bankruptcy and will honor your warranty.
by Barbara S - Due 4/1/10- 4 weeks ago