|
|
|
|
| ||
Diamond Jewelry Forums
 Picture Gallery
 Video Gallery
 Journal
|
|||
|
|  Search
|  Posted Today
|  Most Active
|  Help
|
||
 »
Home
»  » Diamond Prices and Grading »
 » RockyTalky
»  » How does insurance work for hard-to-find stones?
|
|
 |
How does insurance work for hard-to-find stones? |
 |
| P: 4/5/2006 2:27:38 AM | |
diamond_quester Cut Rock Total Posts: 125 Last Post: 5/16/2006 Member Since: 2/4/2006 |
Never mind! Found the answers. Original question was, if it is very hard for your insurance co to find your shape stone with the exact carat/color/clarity specs (mine doens't have a cut grade since it's a fancy), will insurance be likely to cash out even if you have a replacement policy. As far as I can tell, the answer is that they will try to replace with your specs or better. If they really cannot find anything suitable they will pay out estimated replacement value.
|
| Posted: 4/5/2006 2:27:38 AM | |
|
There are 3 replies to this message. There are 3 replies on this page. |
|
| P: 4/5/2006 8:44:25 AM | |
oldminer Ideal Rock Total Posts: 4,964 Last Post: 11/20/2009 Member Since: 9/4/2000 |
It isn't a bad question and the answer you found is pretty good. A difficult to find item can be insured for its value, but replacing it can be quite difficult. One must always be prepared to accept the cash or something similar, not identical. Difficult to find definitely means difficult to replace..... 
David S. Atlas |
| Posted: 4/5/2006 8:44:25 AM | |
| P: 4/5/2006 10:15:14 AM | |
|
diamond_quester Cut Rock Total Posts: 125 Last Post: 5/16/2006 Member Since: 2/4/2006 |
I'm prepared for that, David! Just wanted to make sure that in such a case, insurance cannot require me to accept trade-offs in the 4C's. PS search doesn't turn up any options priced within my coverage amount until I relax at least two of the three specs (carat, color, clarity). I would like to at least have some say in whether the trade-off is acceptable to me.
|
| Posted: 4/5/2006 10:15:14 AM | |
| P: 4/5/2006 11:22:55 AM | |
denverappraiser Ideal Rock Total Posts: 4,614 Last Post: 11/22/2009 Member Since: 7/21/2004 |
Read the details of your policy. They are not all the same. In general, if the company can't make a replacement that meets all of the specifications listed in the item description section of the policy, they must cash out for the face value of the policy. Neil Beaty GG(GIA) ISA NAJA Professional Appraisals in Denver There's never a crowd when you go that extra mile. |
| Posted: 4/5/2006 11:22:55 AM | |
 Previous Page
|
Next Page 
|
Contact Us | Back Home | Privacy Statement | Forum Agreement | Forum Policies | |
| Ideal BB Version: 0.1.5.4.beta1 | Message forum software powered by the Ideal BB |
| |
Pricescope -
Knowledge -
Diamond Prices -
Tools -
Resources -
About
© 2000-2009 Pricescope. Terms of Use Privacy Policy Disclaimer
forum archives
