Crestview jeweler: refund promotion a ‘win-win’ situation

Jeweler
FILE PHOTO | News Bulletin
Published: Wednesday, June 26, 2013 at 10:56 AM.

CRESTVIEW — If Bob Sikes Airport’s official temperature reads 99 degrees Fahrenheit or higher on the Fourth of July, hundreds of Lewis & Co. Jewelers customers will receive refunds on their purchases.

But owner Keith Lewis wouldn’t have it any other way. 

“We're hoping and praying that it hits 99 degrees on July 4. Nothing would make me happier,” he said.

That’s because Lloyd’s, a worldwide specialist insurer, will foot the bill. Under the policy, a business can pay a single premium for the insurer’s agreement to pay a benefit, minus taxes, under certain conditions. Hole-in-one golf tournaments have used such promotions, but the concept purportedly is new to north Okaloosa County.

“It’s something that's never been heard of before in this area,” Lewis said, adding that an Arizona friend’s similar promotion inspired him.

The jeweler did not disclose the premium the company paid for the promotion, but said Lloyd’s required the promotion to end seven days before the temperature reading.

Hundreds of customers who bought items between May 23 and tomorrow stand to benefit from the bet. Whether patrons purchased a $25 charm for a sterling silver bracelet or a $100,000 pink diamond ring, they would get a refund during a private party, the jeweler said.



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