Aussie ring insurance - any replace damaged/lost stone?

bump

D2B, I will be most interested in this as well.. especially considering I have spent the last 12 months arguing with our current Insurer on a largish H&C claim after a nasty storm..Most certainly do not want anything to do with them..

Did you do a search of the forums? I found a thread about insurance that was a couple of years old i think??

AussieNic

I cant seem to find anything to recent, but will have another look. I wish we had more choice in insurance like the US posters seem to have ... sigh....

Good morning everyone,
Although in the UK I would wholeheartedly agree with all that you say. It would appear that our American friends get the best deals regarding all things jewelry related, insurance included. Good luck with your search.

I haven''t got my ring yet and when I do I''ll go with whomever our jeweller suggests.

But it might be worth looking into this company - they specialise in jewellery insurance.

The cheapest I could find was RACQ, however they told me they only give cash out if they can't find an equivalent replacement item in Australia. So in my mind, that told me that I need to provide them with as much info as possible about my purchase to make it impossible to find something equivalent here. They originally just wanted basic details (which would make it easy for them to just buy whatever) but I convinced them to allow me to provide the description. They agreed to put my brief description in their computer file (they only have a small amount of room), which was this:

LEON MEGE 950PT/RU DIAM ENG. RING CTR DIAM
EMERALD CUT 1.01CT G VS2, 2XTAPERED BAGUETT
SIDE DIAMS=0.23CT G VS1. SINGLE CLAW PRONG
SET. SEE CUSTOMER EMAILS FOR FURTHER DETAIL

And I followed up with a HUGE extremely detailed e-mail with attachments of Sarin reports, ASET images, valuations, GIA report scans, etc. Basically everything I considered when I purchased my diamond. I'm just hoping for the best in the event that something happens, hopefully they'll look at my e-mail and either follow my process to find something or just say "this guy is too much trouble" and cash out. They agreed to keep my e-mail on my file.

I didn't have any luck finding insurers that would just cash out no questions asked, I'd be interested if any exist.

ETA: That Q Report insurer looks interesting Pancake, usually Chubb won't insure smaller items, but they seem to. The other thing is that they say their coverage is worldwide, I wonder how they can do that? I wonder how their price compares to others? They seem to say on some parts of their site that they will allow you to return to your original jeweller for replacement, but in other sections they mention "Q Certified Jewellers" and that they only offer cash settlements at their discretion if they can't replace the item.