Victor Canera and Setting a Diamond Question

The jeweler insures the diamond while it is being set. State Farm would not insure my diamond or the ring until it was in my possession. That was my experience 6 years ago. I had the stone sent to me from the guy I got it from and then I took it to the local jeweler to have a custom setting made and set.

Of course if you are shipping the diamond, you send it by the United States Post office and pay for the insurance to cover the actual purchase price of the stone. It has to be sent registered mail to get that amount of insurance.

Whoever is in possession of the stone should send it to VC. they will insure it when they send it. don't you want to see the stone before it is set? Just wondering.

JEWELERS DO NOT ALL INSURE DIAMONDS WHILE THEY ARE BEING SET. That is FALSE. The policies of each jeweler are different.

State Farm might have one policy, but other insurance carriers don't share it. IF you show that you are buying a setting for the stone at the time you are adding the stone to the policy Jewelers Mutual WILL insure the stone while it is being set. So will Chubb. That's my experience. I just had the setter send me an invoice for the setting-- detailing the estimated cost of the setting and a description that ALSO stated the diamond's stats (refer to it by lab report number if you have that engraved on the stone). I sent it to JM along with my Diamond's appraisal so they would know it was a RING they were insuring-- just in two separate parts because the setting needed to be custom fabricated. JM insured my diamond while setting with NO issue at all. This was my OEC (which I sold later). I bought it lose and was going to have it set at a different place.

I would have the stone sent directly to Victor, unless you want to see it in person.

As I said in your other thread, I would DEFINITELY get the G SI stone that ariel posted for you. It is a better performer. You will NOT see the color difference between the G and the F especially in a halo. And it's totally eyeclean. And it saves you 20K!

If you want to see the stone in person, then send it to Victor registered mail.

ASK VICTOR if he insures the stone while setting.

Gypsy and Ariel thank you for your replies. I will definitely check with my insurance company as well as JM. I will have to call VC to see if he insures the stones that he sets.

Written by Sparkle524 » March 21st, 2012, 4:01 pm:Gypsy and Ariel thank you for your replies. I will definitely check with my insurance company as well as JM. I will have to call VC to see if he insures the stones that he sets.

I am curious to know if VC insures the stone while in his possession as well - let us know if you ended up calling him!

I cannot imagine that Victor would take responsibility for damage to a diamond he did not sell while setting it. I thought the only time a jeweler usually covers it is when he is the seller of the diamond. Once that diamond leaves the seller, the buyer needs to have insurance unless they can easily afford to replace it. I'd do what Gypsy suggested and get a JM policy so it can be covered while being set.

Agreed - safest to get JM insurance which will cover the shipping and setting. I would go with VC to set the stone .. very few do as good of a job with setting.

Written by CharmyPoo » March 24th, 2012, 10:50 pm:Agreed - safest to get JM insurance which will cover the shipping and setting. I would go with VC to set the stone .. very few do as good of a job with setting.

agreed

I will be making a decision this week. Once I've decided which diamond to go with I will email Victor and ask him if he carries insurance on the stone while he is setting it. I am thinking about having the vendor send the diamond to VC so that it will be insured. I will also get JM for the setting process if necessary.