Appraisal Question?

[Clink83]

I just bought an engagement ring off Blue Nile. Two part question here. A.) Is the price alright for the ring? B.) I have the inflated appraisal from BN for $5500, and another from a local jeweler, who appraised it for $3300, almost exactly what I payed for the ring. Do insurance companies pay all of the appraisal cost or not?

Ring Specs:

2.5 mm Plat. band with two 3x5 mm pear-shaped sapphire sidestones

Center diamond stats

.54 Carat
AGS Ideal 0 cut
Polish and symmetry Ideal
Color- F
Clarity- VS1
Depth % 61.3*
Table % 57.0*
Crown Angle 34.6*
Pavilion Angle 40.7*
Culet % 0.9*

AGSL Report

GCAL Report

Site pic of ring - enlarged view

Scored a 1.1 HCA w/ AGS stats and a .8 w/ the GCAL ones. Paid $2252 for the stone and am just looking for opinions on it and on any information as to which insurance companies are known to cover the entire appraised value.

Thanks

 

[Clink83]

Please, anybody who can provide info please do. Popping the question on Fri.

 

[oldminer]

There is little reason to insure the ring for more than what BN sells it for. HOWEVER, if there is any price increase before a total loss happened, then you might be a bit less than fully insured. Insuring the ring for the inflated amount will give you total coverage unless we undergo raoring inflation, but every day you will have paid more insurance premium than you could or should have paid. You get what you pay for. but being overinsured does not really make it better. All your insurance company will generally do is allow you to relace the ring with a like kind item. Only a few comapanies have "actual cash value" insurance where they just write you a check for the insured amount. Those companies generallyt charge higher rates and are very picky about clients they are willinig to cover.