Is WAX Insurance Legit? A Comprehensive Review of the Collectibles Insurance Service

If you are a collector of luxury items, such as watches, jewelry, handbags, comics, art, and more, you may have heard of WAX Insurance, a service that helps you insure your valuables from loss, damage, and theft.

But is WAX Insurance legit? How does it work? What does it cover? What are the benefits and drawbacks of using WAX Insurance? And how does it compare to other collectibles insurance options?

In this article, we will answer these questions and more, to help you decide if WAX Insurance is right for you. We will also share some customer reviews and feedback on WAX Insurance’s customer service and claims process.

What is WAX Insurance?

WAX Insurance is a service that helps you insure your luxury collectibles, such as watches, jewelry, handbags, comics, art, and more.

WAX Insurance covers you from loss, fire, theft, earthquake, flood, and breakage, worldwide.

WAX Insurance is not an insurance company itself, but rather a platform that connects you with a trusted advisor and a licensed and rated insurance company, the Universal Fire and Casualty Insurance Company (UFCIC).

You can use the WAX mobile app to take a picture of your collectibles, provide basic information, and get a quote and coverage in minutes.

You can also manage your policy, update your collection, and file a claim online. WAX Insurance is currently available to United States residents only.

You can learn more about WAX Insurance on their website or by reading some of the reviews and articles about them .

Is WAX Insurance Legit?

WAX Insurance is also accredited by the Better Business Bureau, with an A+ rating.

The WAX Insurance has received many positive reviews and testimonials from its customers and members, who appreciate its coverage, benefits, and customer service.

WAX Insurance has also won several awards and recognitions, such as the Insurtech 100, the Insurance Business America Hot 100, and the Insurance Business America Elite Women.

WAX Insurance is not a scam or a fraud, but a trusted and reliable service that offers valuable insurance and resources to collectors.

However, you should always be careful and do your own research before joining and paying for anything.

You should also read the terms and conditions of the service and the policy, and make sure you understand what is covered and what is not.

What Does WAX Insurance Cover?

WAX Insurance covers the following types of collectibles and valuables:

• Watches: This includes luxury, vintage, and smart watches, such as Rolex, Omega, Patek Philippe, Breitling, Apple, and more.
• Jewelry: This includes rings, earrings, necklaces, bracelets, pendants, brooches, and more, made of gold, silver, platinum, diamonds, pearls, gemstones, and more.
• Handbags: This includes designer, vintage, and limited edition handbags, such as Chanel, Louis Vuitton, Hermes, Prada, Gucci, and more.
• Comics: This includes comic books, graphic novels, manga, and more, from various publishers, genres, and eras, such as Marvel, DC, Image, Dark Horse, and more.
• Art: This includes paintings, sculptures, drawings, prints, photographs, and more, from various artists, styles, and periods, such as Picasso, Warhol, Monet, Dali, and more.
• Sports Cards: This includes trading cards, memorabilia, and autographs, from various sports, leagues, and players, such as baseball, basketball, football, soccer, and more.
• Stamps: This includes postage stamps, revenue stamps, first day covers, and more, from various countries, regions, and themes, such as US, UK, China, Europe, and more.
• Coins: This includes coins, medals, tokens, and more, from various countries, regions, and periods, such as US, UK, China, Europe, and more.

What are the Benefits of WAX Insurance?

Wax Insurance Benefits are the advantages that customers can enjoy when they choose Wax Insurance as their jewelry insurance provider. According to the company’s website, some of the benefits are:

• Worldwide coverage for most causes of loss, with no deductible
• Liberal appraisal requirements for most jewelry items
• Instant quotes and flexible payment options
• Hassle-free claims and lifetime warranty on repairs and replacements
• VIP support and concierge service
• 30-day money-back guarantee

Wax Insurance Benefits make it easy and convenient for customers to protect their valuable jewelry collections, whether they are passionate about watches, rings, earrings, or any other type of jewelry.

Wax Insurance Benefits also set it apart from other jewelry insurance companies, such as Jewelers Mutual, as it offers some features and advantages that they do not.

Wax Insurance Customer Service

Another benefit of Wax Insurance is that it has a dedicated and responsive customer service team that is available 24/7 via phone, email, or chat.

Wax Insurance customers can also access their account and policy details online, as well as file and track claims.

The Wax Insurance customer service agents are trained to handle any questions or issues that customers may have, and to provide personalized and professional assistance.

Wax Insurance also has a network of trusted and certified jewelers that customers can choose from for repairs or replacements.

Wax Insurance Reviews

The Wax Insurance has received mostly positive reviews from its customers, according to various online platforms and sources.

Customers have praised Wax Insurance for its affordable rates, comprehensive coverage, easy application process, fast and fair claims, and friendly and helpful customer service.

Wax Insurance has also received several awards and recognitions, such as the Best of Weddings 2023 by The Knot, the Top Rated Jewelry Insurance 2023 by Trustpilot, and the A+ rating by the Better Business Bureau.

Wax Insurance Claims

Wax Insurance Claims are the requests that customers can make to Wax Insurance when their insured jewelry or collectibles are lost, stolen, or damaged.

According to the company’s website, Wax Insurance Claims can be made easily and quickly through the following steps:

• Contact Wax Insurance as soon as possible after the incident, either online or by phone.
• Provide the details of the incident and the item(s) involved, such as the date, location, description, and value.
• Choose how you want to repair or replace your item(s), either by selecting a jeweler of your choice or by using one of Wax Insurance’s preferred jewelers.
• Receive your repaired or replaced item(s) with free shipping and a lifetime warranty.

Wax Insurance Claims are processed and approved within 24 hours for most cases, and customers do not have to pay any deductibles or depreciation.

Wax Insurance Claims also cover the full value of the item(s), up to 150% of the itemized limit, if the market value exceeds the limit at the time of the loss.

The Wax Insurance Claims are designed to provide customers with peace of mind and satisfaction when they need it the most.

Wax Insurance Cost

Wax Insurance offers competitive and affordable rates for its jewelry insurance plans, based on the value and type of the jewelry.

The Wax Insurance customers can choose from different payment options, such as monthly, quarterly, or annually.

Wax Insurance also offers discounts for multiple jewelry items, referrals, and renewals.

Wax Insurance’s average annual premium is around $100 for a $5,000 ring, which is about 2% of the jewelry’s value.

The Wax Insurance’s rates are comparable or lower than other jewelry insurance companies, such as Jewelers Mutual, Lavalier, or Zillion.

Wax Insurance vs Jewelers Mutual

Jewelers Mutual is one of the most popular and reputable jewelry insurance companies in the market, and a potential competitor of Wax Insurance.

The Jewelers Mutual has been in business since 1913, and has a long history and experience in the jewelry industry.

Jewelers Mutual also offers comprehensive coverage, flexible plans, and hassle-free claims for its customers.

However, there are some differences between Wax Insurance and Jewelers Mutual that customers should consider before choosing a jewelry insurance company. Some of these differences are:

• Wax Insurance does not require appraisals, receipts, or photos for most jewelry items, while Jewelers Mutual does.
• Wax Insurance offers a 30-day money-back guarantee, while Jewelers Mutual does not.
• Wax Insurance has a lifetime warranty on all repairs and replacements, while Jewelers Mutual has a limited warranty.
• Wax Insurance has a network of trusted and certified jewelers, while Jewelers Mutual has a network of authorized and independent jewelers.
• Wax Insurance has a simpler and faster claims process, while Jewelers Mutual has a more detailed and longer claims process.

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