Claims Repair Schedule
Customer Claims Journey
- Your client reports her lost engagement ring to Lavalier Jewelry Insurance
- The ring is insured for $3,000 with a $0 deductible
- Lavalier refers the client to you to determine your cost to replace the ring
- You determine that it will cost $1,300 for you to replace the ring and $100 for labor, for a total cost of $1,400
- You submit the estimate to Lavalier for authorization to replace the ring
- Using the reimbursement schedule shown here, Lavalier will pay you
$ 1,400 (your cost for supplies/labor)
+ 805 (57.5% profit)
$ 2,205 (plus tax)
| Repair or Replacement Cost including Labor | Percentage for Repair or Replacement |
|---|---|
| $0 – $4,000 | 57.5% |
| $4,001 – $6,000 | 42.5% |
| $6,001 – $10,000 | 34.0% |
| $10,001 – $20,000 | 25.0% |
| $20,001 & above | 24.0% |