Is there temporary jewelry insurance ?

[jeweln]

Hi
I am considering a diamond recut , but BGD said they only cut insured diamonds . What to do ? I don't like to insure my jewelry , seems a waste of money although I know almost everyone does . Is there a company where I can insure for 3 months and have the recut during that time ?

 

[WillyDiamond]

Hi
I am considering a diamond recut , but BGD said they only cut insured diamonds . What to do ? I don't like to insure my jewelry , seems a waste of money although I know almost everyone does . Is there a company where I can insure for 3 months and have the recut during that time ?

Go ahead and insure it, and when the job is done, cancel the policy and you will receive a refund of the unused days.

 

[jeweln]

Willydiamond
Thanks ,that's what I will do.

 

[MrsKBP]

I can not imagine what I would have done if I had not had my ring insured when I lost it. Even though this new engagement ring is also insured, I almost never take it off. My husband would be very disappointed if I lost it again.

I say insure it even if it’s temporary and you may find it’s so inexpensive you may keep the insurance on it!

 

[missy]

Yes exactly how you do it. I have "borrowed" diamond rings before while deciding if I loved them enough to purchase and in each case I bought insurance for them through my insurance company and when I returned the ring I canceled the policy. It is A OK with the insurance company for you to do this and the smart thing to do. No matter how short of a time you have a ring in your possession it should be insured if it's pricey ie not easily replaced.

*As for recutting I imagine there is potential that your insurance policy may not cover that so make sure that is covered*

 

[jeweln]

Missy
yes that's what I am afraid of , whether they will insure if it's going to be cut !

 

[missy]

Missy
yes that's what I am afraid of , whether they will insure if it's going to be cut !

Hi @jeweln, You have to call your insurance company and make sure it’s spelled out in your policy.

 

[oldminer]

Most insurance will not cover any loss or damage while the jewelry is being worked on by a professional artisan on your behalf. Jewelers Mutual is an exception when both you and the professional are both insured with them. There may be other exceptions, but I am unaware of the nuances and don't want to mislead you. However, don't assume coverage that you purchase of damage or loss will cover what is termed "workmen's error"". This would be negligence or accidental damage caused when an item is not in your possession and undergoing repairs or alterations by a professional in the business. Those folks might be expected to cover you when it might be their "fault" something happens.

 

[cflutist]

Back in 2014, I had Jeweler's Mutual insurance while my CBI was at Vatche being set. After I received the completed ring, I added it to my existing Personal Articles Policy and cancelled JM. Because this all occurred within one month, there was no charge from JM.