Appraisal/Insurance question

[badger.packer.fan]

I just got my ring back. I have an appraisal from the jeweler with the basics, setting description, and diamond description (bascially what the GIA reports). If I''m going with either JM or Chubb, do I need a more detailed appraisal with crown/pavillion measurements, etc? My understand is that either insurance company will let you choose your own jeweler to do the estimate that will be submitted. If I go back to Suberbcert and get the estimate to replace in kind, than I don''t have to worry about not having all the cut details in the appraisal do I?

 

[claimsjeff]

Badger.Packer.Fan-

Well even though we are in Neenah, and I live in Appleton with a big green/yellow fire hydrant in my yard....I''m a Colts fan first and a Packers fan second.

To your question, all we need is an appraisal reflecting the 4 C''s(Cut, Color, Clarity, Carat) and the value from your jeweler. We do not need the actual measurements.

Please let me know if you have any additional questions.

Jeff A. Mills
Vice President Claims
Jewelers Mutual Insurance Co.
1-800-336-5642.

 

[denverappraiser]

If there are attributes about your ring or your diamond that you feel are important and that you would like to see considered in the replacement, you should have them included in the appraisal. The insurance companies will accept almost anything. It's YOU that should be more selective. The jeweler where you are making your purchase may not be available or convenient if and when you need to make the replacement. A detailed description protects both your interests and those of the insurance company but, in the end, the documentation you supply is going to be the definition of 'like kind'. Make sure you agree with what it says.

Go Broncos.


Neil Beaty
GG(GIA) ISA NAJA
Independent Appraisals in Denver