As if buying the diamond wasnt complicated enough now comes the insurance process. I was told/read that Chubb is a great policy because they write the insured a check if lost/stolen/damaged. However, I called the local agent that represents chubb and she had some unusual advice. She said most ppl just schedule a seperate endorsement on their renter/homeowner''s insurance. She said she wasnt sure if chubb would take a stand alone policy on an engagement ring.
Alright, so we call our all-state renter''s insurance agent today. He says they will cover it with a faxed appraisal to them and it is 13 bucks per grand per year. I aske him to fax the policy. I get the fax and it doesnt really say anything. We call him back to ask about whether it needs to be inspected and what exactly happens if the ring is lost/stolen/damaged? He says no inspections are required and if something happens to the ring they will work with a local jeweler to get the same ring for us. He did not have a list of jewelers but said it would be similar to a Kay Jewelers. This is bullcrap.
The only other insurance I know of is the Mutual one. Was the lady correct about Chubb? Any advice? Thanks
Alright, so we call our all-state renter''s insurance agent today. He says they will cover it with a faxed appraisal to them and it is 13 bucks per grand per year. I aske him to fax the policy. I get the fax and it doesnt really say anything. We call him back to ask about whether it needs to be inspected and what exactly happens if the ring is lost/stolen/damaged? He says no inspections are required and if something happens to the ring they will work with a local jeweler to get the same ring for us. He did not have a list of jewelers but said it would be similar to a Kay Jewelers. This is bullcrap.
The only other insurance I know of is the Mutual one. Was the lady correct about Chubb? Any advice? Thanks