lost ring, now another disappointment

[partgypsy]

Well I haven't shared this with anyone here because I've been really bummed about it, and hoping that it would turn up, but...
Ever since I returned from vacation the first week in August I haven't been able to find my diamond anniversary ring. This is the one where I bought an ideal cut diamond from Wink and had it set in a custom setting at a local jeweler (hand fabricated 18K and platinum setting). Our house did get broken into a week or so before we went on vacation. We filed a police report but as the things stolen (cash and kid's electronics) were below our deductible we didn't tell the insurer. I know I had my ring at that time. I leave my ring at home. I get the jewelry box out of hidden place, and it's not in my jewelry box. I think it's possible that I forgot to put the ring in the jewelry box and then hid it somewhere else, but I looked everywhere I can imagine, and nothing. Gone I can imagine that I was so paranoid about losing my ring I end up hiding it so well I can't find it. the less appealing option is that someone nicked it at some point.

I admit defeat and call insurers. That was a few weeks ago. I called them today, and they said they hadn't got a quote back from the jeweler who will give them an estimate. What jeweler? "Reeds". Even though I have a current appraisal for the item (as well as the original invoices and descriptions of the items ) they are not using that information, but what Reeds says they would replace it for. I feel a little sick to my stomach because I know this will not come out right.
What do I do about this? I told them where I got the diamond, and the local business I got the ring made, but I get the impression they will not contact either of those businesses to find out replacement value.

 

[Gypsy]

Move this to RT where the vendors and appraisers will see it.

 

[partgypsy]

Thanks Gypsy, have asked moderators to do so.

 

[Karl_K]

They have to replace it with what the policy was bound with.
What I like to do for custom is even if the vendor don't brand it have the appraisal read Custom by <name>, that gives you the right to argue that your not "whole" unless it is done by that person if it is possible.
That's why the documents you use to bind a policy are so important.
If the policy is bound with a generic description then it leaves them much more room to wiggle with the replacement item.
I would wait and see what they come up with, it might be a fair offer.
Then bury them in paperwork with the argument that what they propose will not make you "whole" if needed.

Remember the adjustor is not your friend their job is to settle your claim as cheaply as possible.

 

[WinkHPD]

Well I haven't shared this with anyone here because I've been really bummed about it, and hoping that it would turn up, but...
Ever since I returned from vacation the first week in August I haven't been able to find my diamond anniversary ring. This is the one where I bought an ideal cut diamond from Wink and had it set in a custom setting at a local jeweler (hand fabricated 18K and platinum setting). Our house did get broken into a week or so before we went on vacation. We filed a police report but as the things stolen (cash and kid's electronics) were below our deductible we didn't tell the insurer. I know I had my ring at that time. I leave my ring at home. I get the jewelry box out of hidden place, and it's not in my jewelry box. I think it's possible that I forgot to put the ring in the jewelry box and then hid it somewhere else, but I looked everywhere I can imagine, and nothing. Gone I can imagine that I was so paranoid about losing my ring I end up hiding it so well I can't find it. the less appealing option is that someone nicked it at some point.

I admit defeat and call insurers. That was a few weeks ago. I called them today, and they said they hadn't got a quote back from the jeweler who will give them an estimate. What jeweler? "Reeds". Even though I have a current appraisal for the item (as well as the original invoices and descriptions of the items ) they are not using that information, but what Reeds says they would replace it for. I feel a little sick to my stomach because I know this will not come out right.
What do I do about this? I told them where I got the diamond, and the local business I got the ring made, but I get the impression they will not contact either of those businesses to find out replacement value.

So long as you had your ring insured as a Crafted by Infinity diamond they HAVE to replace it with one. If not, when you sue them, they are going to lose and be liable for treble damages.

If they give you a bunch of poop, call your State Insurance Agency and ask to speak with someone who works with these kinds of deals. They will call the insurance company and remind them of their obligations.

If your State is like Idaho, you MUST do this before you contact a lawyer, as once you contact a lawyer then can not longer assist you.

You need to talk with the adjuster and let them know you are not some kid who fell off the turnip truck last night and that you paid premiums for quality jewelry and will accept nothing less.

Since I do not know your screen name and how it correlates with your real name, I can not send you a copy of any paper work that I gave you. If you need information that I have you only need to contact me and I will make it happen.

Wink

 

[Karl_K]

Well I haven't shared this with anyone here because I've been really bummed about it, and hoping that it would turn up, but...
Ever since I returned from vacation the first week in August I haven't been able to find my diamond anniversary ring. This is the one where I bought an ideal cut diamond from Wink and had it set in a custom setting at a local jeweler (hand fabricated 18K and platinum setting). Our house did get broken into a week or so before we went on vacation. We filed a police report but as the things stolen (cash and kid's electronics) were below our deductible we didn't tell the insurer. I know I had my ring at that time. I leave my ring at home. I get the jewelry box out of hidden place, and it's not in my jewelry box. I think it's possible that I forgot to put the ring in the jewelry box and then hid it somewhere else, but I looked everywhere I can imagine, and nothing. Gone I can imagine that I was so paranoid about losing my ring I end up hiding it so well I can't find it. the less appealing option is that someone nicked it at some point.

I admit defeat and call insurers. That was a few weeks ago. I called them today, and they said they hadn't got a quote back from the jeweler who will give them an estimate. What jeweler? "Reeds". Even though I have a current appraisal for the item (as well as the original invoices and descriptions of the items ) they are not using that information, but what Reeds says they would replace it for. I feel a little sick to my stomach because I know this will not come out right.
What do I do about this? I told them where I got the diamond, and the local business I got the ring made, but I get the impression they will not contact either of those businesses to find out replacement value.

So long as you had your ring insured as a Crafted by Infinity diamond they HAVE to replace it with one. If not, when you sue them, they are going to lose and be liable for treble damages.

If they give you a bunch of poop, call your State Insurance Agency and ask to speak with someone who works with these kinds of deals. They will call the insurance company and remind them of their obligations.

If your State is like Idaho, you MUST do this before you contact a lawyer, as once you contact a lawyer then can not longer assist you.

You need to talk with the adjuster and let them know you are not some kid who fell off the turnip truck last night and that you paid premiums for quality jewelry and will accept nothing less.

Since I do not know your screen name and how it correlates with your real name, I can not send you a copy of any paper work that I gave you. If you need information that I have you only need to contact me and I will make it happen.

Wink

woops I missed it was a cut by infinity diamond.
If the policy was bound as a cbi they have to replace it with a cbi.
Same with the setting if it was bound with a brand or custom by <name>.

 

[cflutist]

Even though I gave them all of the Tiffany paperwork, my insurer did not put "Tiffany" anywhere in the description.
I made them re-do it since I know that I paid a premium (2-3x of what I could have bought a Fancy Yellow from an online vendor for)
so that if it is lost/stolen, it gets replaced with a Tiffany diamond and ring. They listed all of the brand names of my flutes, china, crystal, and silverware, but not a Tiffany ring? Shame on them.

Sorry for your loss, hope it gets resolved soon.

 

[Karl_K]

Even though I gave them all of the Tiffany paperwork, my insurer did not put "Tiffany" anywhere in the description.
I made them re-do it since I know that I paid a premium (2-3x of what I could have bought a Fancy Yellow from an online vendor for)
so that if it is lost/stolen, it gets replaced with a Tiffany diamond and ring. They listed all of the brand names of my flutes, china, crystal, and silverware, but not a Tiffany ring? Shame on them.

Sorry for your loss, hope it gets resolved soon.

bravo for paying attention to that and getting it done right.

 

[drk14]

I admit defeat and call insurers. That was a few weeks ago.

I'm very sorry about your situation. For the benefit of others, would you mind sharing who the insurance company is?

 

[luv2sparkle]

Oh part gypsy, I am so sorry! I hope you get this all worked out. What a nightmare! Stress stress and more stress. Hugs.

 

[partgypsy]

Yeah I have to pull up the folder about this (at work). I may have messed up, in that their description doesn't say custom and name of ring maker). What I think I did, I gave them the original info, with copy of report for the diamond (it is not crafted by infinity but it is an ideal cut diamond) and the invoice for the setting (a local custom jeweler) and also a recent appraisal (the insurance requires we get a new appraisal every 2 or 3 years, which costs me $$ out of pocket). So, with all that information, if they are going to argue they are going to replace it with a reeds ring with similar description, I will not be happy!
I also got worried when talking to adjuster (it is taking them awhile to get back with quote) that, they need to "look up the cost of gold". I mean, the price of gold is only part of the cost of a custom setting. I asked, didn't they have all that information, and the appraisal? And they said yes, but appraisals are inflated (but I asked for replacement value appraisal, as that is what the insurers wanted, so I don't think it's too far off.).

But I will wait and see what they come up with. We have used State farm insurance for 16 years (or more, for vehicle insurance) and never made a claim, but always felt that I was covered with them. so we will see.

 

[partgypsy]

The thing is, after our house broken into (actually husband had door unlocked) I just felt this sense of insecurity, that I came so close to having my jewelry stolen. Most of my jewelry I like, but other than a couple rings from my grandmother none have the sentimental attachment I had to this ring. I always thought I was going to hand this ring down to my oldest daughter. I'm trying not to be a baby about it I just don't know if I can even should replace this ring.

 

[WinkHPD]

Yeah I have to pull up the folder about this (at work). I may have messed up, in that their description doesn't say custom and name of ring maker). What I think I did, I gave them the original info, with copy of report for the diamond (it is not crafted by infinity but it is an ideal cut diamond) and the invoice for the setting (a local custom jeweler) and also a recent appraisal (the insurance requires we get a new appraisal every 2 or 3 years, which costs me $$ out of pocket). So, with all that information, if they are going to argue they are going to replace it with a reeds ring with similar description, I will not be happy!
I also got worried when talking to adjuster (it is taking them awhile to get back with quote) that, they need to "look up the cost of gold". I mean, the price of gold is only part of the cost of a custom setting. I asked, didn't they have all that information, and the appraisal? And they said yes, but appraisals are inflated (but I asked for replacement value appraisal, as that is what the insurers wanted, so I don't think it's too far off.).

But I will wait and see what they come up with. We have used State farm insurance for 16 years (or more, for vehicle insurance) and never made a claim, but always felt that I was covered with them. so we will see.

I reiterate, and I was a replacement jeweler for State Farm for years, they have an obligation to replace in like kind. Let your adjuster know that like kind means, custom made ring and a diamond of equal or better weight and cut, color and clarity grades to what was insured. He knows this and will be happy to get you to accept less if you do not let him know that YOU know it to and that you will NOT accept a bid from a chain store as being equal to a custom made ring from the jeweler who made you the ring to begin with.

If he acts in bad faith, he also knows that the company will be hit with treble damages, so it is not in his best interest to push you beyond the exploratory stage of this adventure. Let him know that you know and suddenly, unless he is unusually obtuse, things will get much better.

Wink

 

[cflutist]

I agree Wink, "In Kind" is the key here but State Farm has incompetent workers entering descriptions who cannot read what is on an appraisal.

I already had them correct the Tiffany error from March, and now just yesterday I received an updated schedule for my newest Fancy Intense Yellow diamond pieces. They left off the words Hand-Assembled (versus machine made) and NATURAL Fancy Intense Yellow diamonds. I tried to explain to them already that hand assembled is more expensive than machine made, and that Natural Yellows are much more expensive than irradiated/treated or synthetic yellow diamonds. Also for the pendant, they spelled it as INTENCE instead of INTENSE.

They are 3 for 3 right now, bunch of bozos.

I have to protect my interests otherwise they would have tried to replace my bracelet with a machine made one of irradiated yellows.

 

[partgypsy]

cflutist your experience is scary, but Wink your comments are encouraging. I will have to talk with them if they are not trying to replace "in kind".

 

[missy]

Sorry about this part gypsy and I hope it all works out for you. It is encouraging reading what Wink wrote and I think everything will work out fine but sending you good luck dust anyway!

 

[Calliecake]

Thank You Cflutist for sharing your experience. Talk about an eye opener. I really need to review the paperwork for my insured jewelry.

Part Gypsy, I'm sorry your having to deal with this. How frustrating

 

[MissGotRocks]

Is your ring on a separate rider with State Farm?

 

[partgypsy]

yes, it is in a separate jewelry rider, which requires a current appraisal. That's why I thought I was covered. Though we never had to make a claim so far, their customer service has always been good (so far).

 

[Karl_K]

I agree Wink, "In Kind" is the key here but State Farm has incompetent workers entering descriptions who cannot read what is on an appraisal.

I ran into the same thing with adjusters after an idiot hit my car so I ended up dumping them and saved money on better coverage to boot.
I have really been happy with Erie insurance for my car when I had a claim when an idiot hit my car in a parking lot.

 

[ponder]

yes, it is in a separate jewelry rider, which requires a current appraisal. That's why I thought I was covered. Though we never had to make a claim so far, their customer service has always been good (so far).

Hmmm... My state farm jewelry rider (personal articles policy) a cash payout. I wonder why some are "like and kind" and others aren't?

 

[cflutist]

Could it be different in different states? My State Farm PAP is in kind. When a bunch of snow dropped on my hubby's camera and shorted it out, they gave us only the current discounted price on Amazon even though we paid more and insured it for more.

 

[partgypsy]

An update. Talked to jeweler at Reeds who calculated the replacement price (3500, while replacement price for appraisal is over 5K). What they want me to do is go to Reeds and pick out a replacement ring. Talking to him, I explained my concerns that it was a custom made ring (hand fabricated/forged) and he said he did not know that. Found out his estimate was based on description only, forwarded by State farm, and the State farm settler did not give him a copy of the appraisal (which has a detailed description of ring plus estimate of replacement price and a color picture), even though State Farm themselves requested the appraisal and is in the file...

The jeweler asked me to email him the appraisal. I also emailed the grading report #l. I noticed even the appraisal was not totally correct, because it was listed as hand cast, when it fact it was hand fabricated. Anyways, we'll see.
I also want to do a cash out. The jeweler said that is possible, but also said that the process was that I go to the Reeds store (to pick out a replacement). So still a little unclear at that point.

 

[Dee*Jay]

Part Gypsy, I'm sorry that your ring is lost and also that the insurance company is being a bit (IMHO) obtuse about the replacement. If I were you I would NOT go to Reeds to pick out a replacement. I would tell the insurance company that a trip to Reeds would be nothing but a waste of time as there is no piece at Reeds that is equivalent to what you are replacing. For some reason I just get a bad feeling about you picking out a piece at that store and then the insurance company finding a way to use that in their favor and against yours. Maybe I'm cynical or paranoid... or both!

 

[partgypsy]

Well, the ball is in their court. I'm going to visit my family this weekend so it probably won't be resolved before then. What I'd like to do is a cash out and replace at my leisure. Both the State farm person and the jeweler believed that a cash out is an option, but keep saying the next step is for me to go to the jewelers. But I'll wait and see what happens next. I'd really just like to have my ring back. Not possible I know. The next best would be getting a ring from the same bench that made my original ring.

 

[perry]

Part Gypsy:

Sorry that you are going through this; and I don't mean to pry... at a bad time. But why did you use State Farm for Jewelry Insurance.

I know that there are forum articles in the past on the pro's and con's of different insurance options. I went straight to Jewelers Mutual based on those articles and discussions with several jewelers. IF there is a problem Jewelers Mutual allow me to work with my jeweler of choice - and they understand going directly back to the original jeweler and gemstone suppliers.

OK, they may not be the cheapest; but, they were not the most expensive either (I did look at options). But, it seems that the coverage is very solid. Wink and some of the other professionals may be able to offer some advice and experience with different insurance companies.

Best of luck in resolving this.

Perry

 

[partgypsy]

Perry I did see those articles, but I had insurance in place via State farm before the articles, and we have State farm for all of our other insurance. I guess I assumed I would never really need to use it, really for peace of mind type thing. My jewelry is also on the low end for what people insure for, so I didn't think it was worth the trouble to switch.

 

[partgypsy]

I sent the appraisal to Reeds, and after waiting (2?) weeks the jeweler said the original offer was correct. So, I'm not happy about it (they won't talk to original jeweler and see how much it would actually cost to remake ring "in kind") but there's nothing more they are offering to do, other than encourage me to go to Reeds to pick out a replacement ring.
I do appreciate that they are honoring cash out. My thoughts right now is to go to Goldworks and replace with simple band that I neither remove nor insure but I will sit on it for awhile. Still sad I don't have original ring.

If I ever get a significant piece of jewelry down the road, I will use Jeweler's Mutual instead!

 

[cflutist]

So are you saying that the description of your ring says "ideal cut diamond" on the State Farm Personal Articles Policy Schedule but they are sending you to Reeds instead of replacing with another Ideal cut diamond? That's totally wrong.

 

[WinkHPD]

Perry I did see those articles, but I had insurance in place via State farm before the articles, and we have State farm for all of our other insurance. I guess I assumed I would never really need to use it, really for peace of mind type thing. My jewelry is also on the low end for what people insure for, so I didn't think it was worth the trouble to switch.

Two things.

1. Contact your long time agent and tell him the crap that is going on with the adjuster. He may be able to get him off the dime, or not.

If that does not work.

2. Contact your State's Insurance Commission. They probably already hate State Farm for being such slow to pay (derogatory terms removed) and have the power to make their life miserable until they do you right. They will, and obviously are, try to bully you into doing it their way, but your State laws may actually be in your favor and the Insurance Commission will love to show them the error of their ways if those laws exist in your State. You must contact the Insurance Commission prior to contacting an attorney as they can not intervene once an attorney is hired, at least in Idaho.

3. If that does not work, you can always contact an attorney. It is triple damages when they are shown to be acting in bad faith. From your side of the story, they are acting in bad faith.

State Farm always treated my client's fairly when I used to handle jewelry claims, but I have heard complaints from around the country that indicate that it is not so in many locations. There are always adjusters who are too interested in saving money for their companies, and not interested enough in making sure their insurance company's clients are made whole. They are counting on you not to rock the boat, so ROCK IT LADY!

Wink