Diamond Jewelry Forums

Picture Gallery

Video Gallery

|

Search |

Posted Today |

Most Active |

Help

» Home »

» Diamond Prices and Grading »

» RockyTalky »

» if stone is insured, do you need USPS insurance?

Pages: 1 of 2: [1] 2 >

if stone is insured, do you need USPS insurance?

P: 10/1/2007 2:39:23 PM
Go Blue 99 Rough Rock Total Posts: 39 Last Post: 10/1/2007 Member Since: 8/2/2006	I'm mailing my wife's e-ring back to ERD to have it resized. I looked through the archives and everyone recommends getting full-value insurance if you mail it thru USPS registered mail. The ring is covered thru an insurance policy at Jewelers Mutual (which covers accidental losses). Why would I need USPS insurance if the ring is already covered thru JM? Just curious- I assume almost all policies cover accidental loss, but nobody mentioned this in the archives. Am I overlooking something? thanks!
Posted: 10/1/2007 2:39:23 PM

There are 49 replies to this message. There are 30 replies on this page.

P: 10/1/2007 3:40:25 PM
denverappraiser Ideal Rock Total Posts: 4,617 Last Post: 11/24/2009 Member Since: 7/21/2004	Blue, That’s a terrific question. The answer, like most terrific questions is that it depends. It depends primarily on the details of your policy. The folks at Jewelers Mutual tell me that a loss of an insured item while in the reasonable care of the post office (meaning registered mail) would be a covered loss under their standard policy. Ask your agent. Neil Beaty GG(GIA) ICGA(AGS) NAJA Professional Jewelry Appraisals in Denver There's never a crowd when you go that extra mile.
Posted: 10/1/2007 3:40:25 PM

P: 10/1/2007 3:42:38 PM
ericad Ideal Rock Total Posts: 794 Last Post: 11/24/2009 Member Since: 7/29/2007	FYI, registered mail automatically includes insurance for the first $25k. Erica D. Jewels by Erica Grace
Posted: 10/1/2007 3:42:38 PM

P: 10/1/2007 4:00:18 PM
niceice Ideal Rock Total Posts: 1,792 Last Post: 7/22/2008 Member Since: 1/29/2003	Date: 10/1/2007 3:42:38 PM Author: ericad FYI, registered mail automatically includes insurance for the first $25k. Actually insurance for registered mail packages is an Option with insurance coverage available Up To $25K - the cost of which is about $38.00 according to the rate calculator on USPS.com Todd L. Gray, President NiceIce.com
Posted: 10/1/2007 4:00:18 PM

P: 10/1/2007 4:10:14 PM
angeline Ideal Rock Total Posts: 1,942 Last Post: 11/14/2009 Member Since: 7/23/2006	I did this exact same thing. I wanted to send my ring to get it re-set, while it was covered through Jewelers Mutual. Although they didn't prefer it, they said it was covered while in transit via Fedex with no additional insurance purchased. I prefered Fedex cos it only took a day instead of USPS which would take 4-5. I got it in writing from them. You should probably just do the same and send it however you like. a edited to add: I disguised it pretty heavily before I took it to the Fedex office I also didn't tell them what it was of course.
Posted: 10/1/2007 4:10:14 PM

P: 10/1/2007 4:13:17 PM
angeline Ideal Rock Total Posts: 1,942 Last Post: 11/14/2009 Member Since: 7/23/2006	as an aside: I now have insurance through Chubb with Touchstone. It is NOT insured for transit, or while being worked on, only when in my possession. a
Posted: 10/1/2007 4:13:17 PM

P: 10/1/2007 5:02:12 PM
denverappraiser Ideal Rock Total Posts: 4,617 Last Post: 11/24/2009 Member Since: 7/21/2004	It’s a federal crime to lie about the contents of a package if they ask you although they don’t normally ask for much in the way of details. Their looking for poisons, not diamonds when they ask this question. You’re not likely to go to jail or suffer any particular problem from the feds for lying about a piece of jewelry but it’s worth noting that losses that occur while in the commission of a crime are specifically excluded from typical insurance contracts for obvious reasons. I would be a little surprised if an insurer would disallow a claim on this basis but it's certainly possible that they COULD. Neil Beaty GG(GIA) ICGA(AGS) NAJA Professional Jewelry Appraisals in Denver There's never a crowd when you go that extra mile.
Posted: 10/1/2007 5:02:12 PM

P: 10/1/2007 5:46:31 PM
angeline Ideal Rock Total Posts: 1,942 Last Post: 11/14/2009 Member Since: 7/23/2006	Date: 10/1/2007 5:02:12 PM Author: denverappraiser It’s a federal crime to lie about the contents of a package if they ask you although they don’t normally ask for much in the way of details. Their looking for poisons, not diamonds when they ask this question. You’re not likely to go to jail or suffer any particular problem from the feds for lying about a piece of jewelry but it’s worth noting that losses that occur while in the commission of a crime are specifically excluded from typical insurance contracts for obvious reasons. I would be a little surprised if an insurer would disallow a claim on this basis but it's certainly possible that they COULD. Neil Beaty GG(GIA) ICGA(AGS) NAJA Professional Jewelry Appraisals in Denver I didn't lie. I was at a Mail Center and they wanted me to fill in their own form. They already had asked about the dangerous substance part. I really didn't want to advertise a diamond ring if I didn't have to. I told them I would rather not say if I didn't have to. I wasn't required to disclose what I was mailing other than assuring them it wasn't dangerous. When I said I disguised it I meant I didn't waltz in there with a ring box in hand I put it in a bigger box. So I didn't LIE, I'm not that stupid.
Posted: 10/1/2007 5:46:31 PM

P: 10/1/2007 6:23:28 PM
denverappraiser Ideal Rock Total Posts: 4,617 Last Post: 11/24/2009 Member Since: 7/21/2004	Angeline, I apologize for the tone of my post. I’m not accusing you of any such thing. I think this is likely to be a thread that comes up in a variety of searches for information about shipping and insurance and it seemed prudent to get that bit advice in here or some dummy is going think we told them it was ok to do it since they’re insured. I was not accusing YOU of being that dummy. Neil Beaty GG(GIA) ICGA(AGS) NAJA Professional Jewelry Appraisals in Denver There's never a crowd when you go that extra mile.
Posted: 10/1/2007 6:23:28 PM

P: 10/1/2007 7:00:17 PM
angeline Ideal Rock Total Posts: 1,942 Last Post: 11/14/2009 Member Since: 7/23/2006	Date: 10/1/2007 6:23:28 PM Author: denverappraiser Angeline, I apologize for the tone of my post. I’m not accusing you of any such thing. I think this is likely to be a thread that comes up in a variety of searches for information about shipping and insurance and it seemed prudent to get that bit advice in here or some dummy is going think we told them it was ok to do it since they’re insured. I was not accusing YOU of being that dummy. Neil Beaty GG(GIA) ICGA(AGS) NAJA Professional Jewelry Appraisals in Denver No worries, thanks for replying, . I admit I got my hackles up and probably took it a bit too personally. It is good advice. Cheers, a
Posted: 10/1/2007 7:00:17 PM

P: 10/1/2007 7:06:41 PM
diamondseeker2006 Ideal Rock Total Posts: 17,609 Last Post: 11/18/2009 Member Since: 1/11/2006	Date: 10/1/2007 4:13:17 PM Author: angeline as an aside: I now have insurance through Chubb with Touchstone. It is NOT insured for transit, or while being worked on, only when in my possession. a What do you mean, not insured "while being worked on"? You mean if you leave your ring for repair or resetting, it is not covered???? Wow, I have Chubb and DID NOT KNOW THAT!!!!! Grrrrrrrrr!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! ~~~ When in doubt...don't.~~~
Posted: 10/1/2007 7:06:41 PM

P: 10/1/2007 7:46:06 PM
angeline Ideal Rock Total Posts: 1,942 Last Post: 11/14/2009 Member Since: 7/23/2006	Date: 10/1/2007 7:06:41 PM Author: diamondseeker2006 Date: 10/1/2007 4:13:17 PM Author: angeline as an aside: I now have insurance through Chubb with Touchstone. It is NOT insured for transit, or while being worked on, only when in my possession. a What do you mean, not insured 'while being worked on'? You mean if you leave your ring for repair or resetting, it is not covered???? Wow, I have Chubb and DID NOT KNOW THAT!!!!! Grrrrrrrrr!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Actually to be precise DS, I didn't ask specifically about being worked on. They said that it is covered when in my possession while I am taking reasonable care. It would be good to clarify this. I think I assumed that if it isn't covered while I am mailing it somewhere, it also wouldn't be covered while it was away from me being worked on. I think I will call tomorrow and clarify.
Posted: 10/1/2007 7:46:06 PM

P: 10/1/2007 8:02:56 PM
Gypsy Ideal Rock Total Posts: 14,306 Last Post: 11/20/2009 Member Since: 8/9/2005	Date: 10/1/2007 7:06:41 PM Author: diamondseeker2006 Date: 10/1/2007 4:13:17 PM Author: angeline as an aside: I now have insurance through Chubb with Touchstone. It is NOT insured for transit, or while being worked on, only when in my possession. a What do you mean, not insured 'while being worked on'? You mean if you leave your ring for repair or resetting, it is not covered???? Wow, I have Chubb and DID NOT KNOW THAT!!!!! Grrrrrrrrr!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! You know, I just got a heart attack-- you HAVE to be sure when posting things like that. Can you please go read your policy, Angeline?. It's my understanding of my Chubb through touchstone policy that it IS covered, as I confirmed with Touchstone in writing before I sent my ring/diamond to Ocean. Although I STILLL do not have a freaking copy of my policy (though Chubb apparently keeps sending them out ) to confirm. Can you PLEASE check your policy Angeline? Or anyone with Chubb standalone, through Touchstone?
Posted: 10/1/2007 8:02:56 PM

P: 10/1/2007 8:06:15 PM
diamondseeker2006 Ideal Rock Total Posts: 17,609 Last Post: 11/18/2009 Member Since: 1/11/2006	I almost had one, too, Gypsy. I think the mailing thing is pretty understandable. We do need to get insurance when mailing. I would have done that anyway. The regsitered/insured is just the safest way to send something. But there may be many times that we take a ring in for sizing, polishing, repair, or resetting, and that ring BETTER be covered all the time! ~~~ When in doubt...don't.~~~
Posted: 10/1/2007 8:06:15 PM

P: 10/1/2007 8:14:45 PM
Gypsy Ideal Rock Total Posts: 14,306 Last Post: 11/20/2009 Member Since: 8/9/2005	Date: 10/1/2007 8:06:15 PM Author: diamondseeker2006 I almost had one, too, Gypsy. I think the mailing thing is pretty understandable. We do need to get insurance when mailing. I would have done that anyway. The regsitered/insured is just the safest way to send something. But there may be many times that we take a ring in for sizing, polishing, repair, or resetting, and that ring BETTER be covered all the time! still feeling faint I have to ditto this. Just called Touchstone, will have to keep compulsively checking my mail for that policy... planned on reading it front to back anyway, but have a whole new motivation for that now, let me tell you!
Posted: 10/1/2007 8:14:45 PM

P: 10/1/2007 8:22:28 PM
diamondseeker2006 Ideal Rock Total Posts: 17,609 Last Post: 11/18/2009 Member Since: 1/11/2006	I'll look and see if mine specifies that kind of thing. ~~~ When in doubt...don't.~~~
Posted: 10/1/2007 8:22:28 PM

P: 10/1/2007 8:32:21 PM
diamondseeker2006 Ideal Rock Total Posts: 17,609 Last Post: 11/18/2009 Member Since: 1/11/2006	OKay, Gypsy, and anyone else interested. Exclusions to the all-risk policy on jewelry (Chubb): "We do not cover loss resulting directly or indirectly from: 1. War.... (lists several types of war, so stay out of a war zone with your jewelry!!!) 2. Nuclear hazard (oh, well, probably won't live to need the rings anyway) Except, if the jewelry is destroyed by FIRE from the nuclear hazard, it IS covered! 3. Wear and tear, gradual deterioration, insects, vermin or inherent vice. (keep the mice out of your jewelry box!) I think we are fine, Gypsy! ~~~ When in doubt...don't.~~~
Posted: 10/1/2007 8:32:21 PM

P: 10/1/2007 9:05:22 PM
stebbo Cut Rock Total Posts: 466 Last Post: 1/27/2008 Member Since: 6/8/2006	Date: 10/1/2007 3:40:25 PM Author: denverappraiser Blue, That’s a terrific question. The answer, like most terrific questions is that it depends. It depends primarily on the details of your policy. The folks at Jewelers Mutual tell me that a loss of an insured item while in the reasonable care of the post office (meaning registered mail) would be a covered loss under their standard policy. Ask your agent. Neil Beaty GG(GIA) ICGA(AGS) NAJA Professional Jewelry Appraisals in Denver Unfortunately 'ask your agent' isn't good enough. The point of insurance is to cover risk--the agent's word is a risk. Anybody out there with a JM or Chubb that could do PS'ers a great service by uploading the actual policy (assuming your personal details are not embedded of course)? Is there any other industry that you can't see what you're buying until you've bought it? I was under the general opinion that policies specifically exclude coverage during posting, but JM seems to understand the jewelery buying process better than anyone so it's totally believeable they might be an exception. Not that it matters considering USPS is already covering it. Is there any way the consumer can be covered if they want to get a loose diamond somewhere quickly, and they can't use the vendor's insurance? ETA: Great stuff DS - Looking good for the standalone policies.
Posted: 10/1/2007 9:05:22 PM

P: 10/1/2007 9:14:57 PM
stebbo Cut Rock Total Posts: 466 Last Post: 1/27/2008 Member Since: 6/8/2006	Date: 10/1/2007 4:00:18 PM Author: niceice Date: 10/1/2007 3:42:38 PM Author: ericad FYI, registered mail automatically includes insurance for the first $25k. Actually insurance for registered mail packages is an Option with insurance coverage available Up To $25K - the cost of which is about $38.00 according to the rate calculator on USPS.com Sure on this Todd? You legally have to declare the value, then they charge the appropriate fee based on the value. I didn't think it was optional.
Posted: 10/1/2007 9:14:57 PM

P: 10/1/2007 9:15:03 PM
Ellen Ideal Rock Total Posts: 22,894 Last Post: 11/6/2009 Member Since: 1/13/2006	Um, what's "inherent vice"? feeling stupid ~~~~~~~~~~~~~~~~ "It is also important for the State to inculcate in its subjects an aversion to any 'conspiracy theory of history' for a search for 'conspiracies' means a search for motives and an attribution of responsibility for historical misdeeds." -Murray N. Rothbard, in The Anatomy of the State John Swinton [1829-1901] Chief Editorial Writer of the New York Times (Considered "the Dean of his Profession" by his peers), when asked to toast an 'Independent Press' in a gathering at the National Press Club, circa 1880 "There is no such thing in America as an independent press unless it is in the country towns. You know it, and I know it. There is not one of you who dare express an honest opinion. If you express it you know beforehand that it would never appear in print. I am paid... for keeping my honest opinions out of the paper I am connected with. Others of you are paid similar salaries for doing similar things.... The business of the New York journalist is to distort the truth, to lie outright, to pervert, to vilify, to fawn at the feet of Mammon, and sell his country and race for his daily bread, or for what is about the same thing, his salary. You know this, and I know it and what foolery to be toasting an 'independent press.' We are tools, and the vassals of rich men behind the scenes. We are jumping-jacks. They pull the strings and we dance. Our time, our talents, our lives, our possibilities, all are the property of other men. We are intellectual prostitutes."
Posted: 10/1/2007 9:15:03 PM

P: 10/1/2007 9:27:09 PM
stebbo Cut Rock Total Posts: 466 Last Post: 1/27/2008 Member Since: 6/8/2006	Date: 10/1/2007 9:15:03 PM Author: Ellen Um, what's 'inherent vice'? feeling stupid Not sure how it applies to jewelry but usually it's for items that self-perish (without external influences causing wear and tear), like food, wine and time-bombs.
Posted: 10/1/2007 9:27:09 PM

P: 10/1/2007 9:28:27 PM
diamondseeker2006 Ideal Rock Total Posts: 17,609 Last Post: 11/18/2009 Member Since: 1/11/2006	Date: 10/1/2007 9:27:09 PM Author: stebbo Date: 10/1/2007 9:15:03 PM Author: Ellen Um, what's 'inherent vice'? feeling stupid Not sure how it applies to jewelry but usually it's for items that self-perish (without external influences causing wear and tear), like food, wine and time-bombs, Where is that ROTFLOL icon when you need it??? ~~~ When in doubt...don't.~~~
Posted: 10/1/2007 9:28:27 PM

P: 10/1/2007 9:33:16 PM
angeline Ideal Rock Total Posts: 1,942 Last Post: 11/14/2009 Member Since: 7/23/2006	Blimey, sorry for all the panic!!! You don't take anyone's word for gospel on a public forum anyway do you?? I mean you have to check things out for yourself. I'm reporting my interpretation of what someone said to me on a phone call, that's it. I assumed (and we all know what that makes me! ) that as it wasn't covered when I mailed it off, and my agent said that it had to be in my possession to be covered, that it wouldn't be covered when being worked on after it arrived at it's destination. I mean, to me...not covered while in transit, suddenly covered once it arrives?? Again. Only my interpretation. Just ring your broker and check for yourself. I certainly will be ringing tomorrow.
Posted: 10/1/2007 9:33:16 PM

P: 10/1/2007 9:42:35 PM
diamondseeker2006 Ideal Rock Total Posts: 17,609 Last Post: 11/18/2009 Member Since: 1/11/2006	Angeline, I do think it is responsible to insure when mailing even if you have other insurance. It just travels more safely, for one thing. (Speaking of USPS here) ~~~ When in doubt...don't.~~~
Posted: 10/1/2007 9:42:35 PM

P: 10/1/2007 9:42:36 PM
WorkingHardforSmallRewards Ideal Rock Total Posts: 1,234 Last Post: 12/14/2008 Member Since: 6/6/2007	Date: 10/1/2007 8:32:21 PM Author: diamondseeker2006 OKay, Gypsy, and anyone else interested. Exclusions to the all-risk policy on jewelry (Chubb): 'We do not cover loss resulting directly or indirectly from: 1. War.... (lists several types of war, so stay out of a war zone with your jewelry!!!) 2. Nuclear hazard (oh, well, probably won't live to need the rings anyway) Except, if the jewelry is destroyed by FIRE from the nuclear hazard, it IS covered! 3. Wear and tear, gradual deterioration, insects, vermin or inherent vice. (keep the mice out of your jewelry box!) I think we are fine, Gypsy! Maybe I should know this, but what exactly do they define as "wear and tear?" If you wear it and your prongs are getting abused slowly but surely, until one day your diamond falls out--is that going to be considered wear and tear? I am sure it means that they do not cover things like scratches on your shank, but where do they start covering it? scratches on your diamond? chips on your diamond? bent prongs? Are those things not covered? I don't think I understand... ____________________________ "Signature-Ideal Meat I'm Lovin it McDonald's."
Posted: 10/1/2007 9:42:36 PM

P: 10/1/2007 9:45:36 PM
diamondseeker2006 Ideal Rock Total Posts: 17,609 Last Post: 11/18/2009 Member Since: 1/11/2006	It means they aren't going to replace your setting when the metal wears away. If the diamond falls out of the setting and is lost, it is covered. ~~~ When in doubt...don't.~~~
Posted: 10/1/2007 9:45:36 PM

P: 10/1/2007 9:47:04 PM
stebbo Cut Rock Total Posts: 466 Last Post: 1/27/2008 Member Since: 6/8/2006	Date: 10/1/2007 9:42:36 PM Author: WorkingHardforSmallRewards Maybe I should know this, but what exactly do they define as 'wear and tear?' If you wear it and your prongs are getting abused slowly but surely, until one day your diamond falls out--is that going to be considered wear and tear? Well let's just say that if during one of your required 3-yearly re-appraisals with a JM policy, and it's noted that your prongs are wearing and should be retipped/replaced. If you don't do it and the diamond falls out, you will not be covered. But it's very hard to prove otherwise.
Posted: 10/1/2007 9:47:04 PM

P: 10/1/2007 9:47:21 PM
WorkingHardforSmallRewards Ideal Rock Total Posts: 1,234 Last Post: 12/14/2008 Member Since: 6/6/2007	Date: 10/1/2007 9:45:36 PM Author: diamondseeker2006 It means they aren't going to replace your setting when the metal wears away. If the diamond falls out of the setting and is lost, it is covered. but if it fell out because the prongs had been worn down and messed up because of daily wear and tear then wouldn't the loss of the diamond be indirectly caused by the daily wear and tear of the prongs, meaning that it would fit under the definition of non-covered damages? Edit: I just read stebbos post...it makes sense, but I think I will check out chubbs site later and see if I can find a definition of wear and tear, as that seems somewhat dangerously broad, especially when you include it could be the indirect cause of some greater loss. ____________________________ "Signature-Ideal Meat I'm Lovin it McDonald's."
Posted: 10/1/2007 9:47:21 PM

P: 10/1/2007 9:49:56 PM
diamondseeker2006 Ideal Rock Total Posts: 17,609 Last Post: 11/18/2009 Member Since: 1/11/2006	This is why I went with Chubb over JM. (referring to Stebbo's last post) ~~~ When in doubt...don't.~~~
Posted: 10/1/2007 9:49:56 PM

P: 10/1/2007 9:59:48 PM
beebrisk Ideal Rock Total Posts: 691 Last Post: 11/21/2009 Member Since: 12/18/2005	Whatever you do, PLEASE ship it in a large box...one that would not normally be suited to a tiny ring. And add some weight to the box, too. You definitely need to obscure the fact that you are shipping a small, valuable item. No offense to the thousands of honest and reputable USPS, UPS and FedEx workers, but everyone knows that 'good things come in small packages"! I actually do quite a bit of business with FedEx and they are well aware that unscrupulous employees often hit small, light and highly insured packages. ******** "...we should note this curious mark of our own age: the only absolute allowed is the absolute insistence that there is no absolute."-Francis Schaeffer
Posted: 10/1/2007 9:59:48 PM

P: 10/1/2007 10:02:53 PM
stebbo Cut Rock Total Posts: 466 Last Post: 1/27/2008 Member Since: 6/8/2006	Date: 10/1/2007 9:47:21 PM Author: WorkingHardforSmallRewards but if it fell out because the prongs had been worn down and messed up because of daily wear and tear then wouldn't the loss of the diamond be indirectly caused by the daily wear and tear of the prongs, meaning that it would fit under the definition of non-covered damages? Edit: I just read stebbos post...it makes sense, but I think I will check out chubbs site later and see if I can find a definition of wear and tear, as that seems somewhat dangerously broad, especially when you include it could be the indirect cause of some greater loss. Especially the word 'tear' - is it tear when you catch a prong on some fabric and it breaks off? The majority of times they seem to be pretty fair when making claims however. Hard to believe after watching "Sicko" last night. Maybe 'wear and tear' means you're not covered if you shed tears when wearing it? (good message to future proposers - get her opinion on the ring first, and don't marry someone too romantic).
Posted: 10/1/2007 10:02:53 PM

Previous Page

Pages: 1 of 2: [1] 2 >

Next Page

« Took the plunge... «

» Okay, I'm nervously putting this old cut cushion out here »

Jump to:

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