Appraisal - Insurance Deliema - please help!

[sl9089]

Ok, just bought an engagement ring for my girlfriend, and wanted to schedule it onto my home owners insurance policy.

I previously called them up to get a quote of what it would add to the bottom line and at that time they said they could accept either the bill of sale (receipt) or an appraisal.

So yesterday after I got the ring, called them up to go ahead and add the ring and wanted to use the receipt. I wanted to do this because I will not be able to get the actual appraisal done until almost 2 weeks later.(first available appointment in my area)

Now they are telling me they will only accept an appraisal and will not provide any coverage until they receive that. My BIG issue is that I really want to have some coverage for the ring until I can get the appraisal, especially since I am flying out tomorrow to propose to my girlfriend and do not feel comfortable going this whole time without any coverage as I spent some very hard earned money on this ring.

Anyone have any advice, experience or suggestions that I can do to get this remedied or provide coverage at least temporarily.

By the way my current insurance company is Liberty Mutual.

 

[oldminer]

You might find an appraiser who will base their report solely on your documentation. While I won''t make final appraisals on items I have not examined personally, you may find many of us would agree to create a temporary document with the understanding that the final report and actual examination of the item be agreed to in advance and within a set time frame. The ability of the appraiser to protect your interests is highly compromised by not examining the ring and the diamond, but the value part can be done to a reasonable extent if the paperwork is adequate.
Maybe this can solve your time crunch.

 

[sl9089]

So how would I go about doing that. The only appraisers I am aware of around here are the ones that are booked up. Are you saying there are appraisers in other locations that can just verify the certs,pics,etc and give me an appraisal that i can send to the the insurance co. If so, where or how do I contact those people.


Also what is the general procedure for an in person appraisal, do they remove the stones from the setting? , I was also told by the place I have an appointment with, they would like for me to come in ahead of time, so they can clean it and polish it (as it would make it easier to appraise), does this sound like a correct procedure?

 

[oldminer]

Pick one of the appraisers listed on Pricescope. Many of us could do what you need via fax or preferably email attachments. Within an hour or two you could have the documents you need with an expiration date after the more formal report could be supplied.

I would avoid polishing a ring or removing any diamond to appraise it unless something made it mandatory.... There are always exceptions, but it is not a standard procedure. Steaming or ultrasonic cleaing is perfectly acceptable....

 

[LGK]

You could also set up a policy with Jewelers Mutual and cancel it after you have the appraisal. I know I used a receipt for one item I have insured with them, so I''m pretty sure they do accept receipts. They were very, very easy to use and helpful. You might ask your insurer if they will allow you to use a jeweler of your choice, or if you have to go with one of theirs; that was the big reason I went with JM rather than Travellers (the place we have for commercial building insurance).