Calling Aussie PS''ers Who did you insure with??

[Deelight]

I know there has been a gazillion and one insurance threads on here but I did a search and the only thread I could find did not have any answers

.

I am currently looking for an insurer for the soon to be mine (if our trip stops getting delayed) e-ring but am having troubles finding one, the recommendations here are all in the US

. I called one insurance company that I am considering transferring my home and contents to as apparently they are really easy going when stuff happens, but they may only offer a cash out policy on jewelery by negotiation at the time of the event or replacement with a comparable/like product -this does not give me peace of mind. Also they will only replace from within the Australian market (I can''t get a Leon setting here or an ISEE2)and will not insure it being set overseas.

I did see that Chubb does offer insurance here but has anyone had any experience with them (I plan on calling them tomorrow) or is there one you would recommend?

Any help so very muchly appreciated

 

[honey22]

Hi Deelight! I tried to get insurance through Chubb for my ering, and they basically told me that it would cost lots more insuring it that way, than adding it to my homeowners insurance. They also don''t give insurance direct, so they gave me the numbers of a few brokers, who also told me the same thing (independently). I got the impression that this type of insurance was for a collection of jewellery, or a single piece that was worths tens of thousands, if not more.

So back to my point, I am getting there I think

I have my home and contents with AAMI and they were great. I added my ering (insured for the purchase price of $7K) as a specified valuable (or whatever they call it), which means I am covered inside and outside the home unconditionally. I asked a million questions and gave scenarios to at least 3 staff members before I took the cover, as I wanted to be 100% sure. The ring is basically covered for any loss or accident, even if I am just a dope and leave it on the front lawn, drop it at work etc. It''s covered for overseas too up to 30 days without telling them, and if I am overseas for more than 30 days I just need to tell them I am leaving the country with the ring and it''s covered too.

In the event of a claim, they will send me a cheque for the $7k (minus the excess of course), they won''t simply try to get a similar ring. I really stressed this point, as I didn''t want to pay for an ACA from Whiteflash, and have them replace my ring with a piece of frozen spit. I have a very detailed description of the ring listed on my policy, ie. size, colour, clarity, ACA brand, etc etc, I have also noted that the stone is an AGS certified Ideal stone, I really put every detail I could, in the event of a claim, I can back this description up my my certificate and invoice from Whiteflash. They explained to me that I am paying a premium every year to have this ring insured at the amount I want, so they will pay that amount in the event of a claim. I have it insured for the amount I paid for it, but I will probably review this every two years depending on how much the premium is. If prices go up I can always put my own money towards replacing it.

I pay around the $200 mark per year I think, in addition to my house and contents. This seems like a fair deal to me for the level of cover I have. We have made two claims on our policy with AAMI, both for our car (once we were at fault and another not at fault) and they were brilliant. Everything was fixed straight away, no questions asked. Their service is great too, which is hard to find in an insurance company. I would definately recommend them.

 

[bling addict]

I''d love to see if you find any good information from others Deelight.

I currently have my jewelery listed on my contents insurance (GIO premium). I honestly have no idea how easy going they are when you make claims. I''m not in the same situation as you, as I bought my jewelry here, but would like to be able to choose how to replace items if I ever have to make a claim.

I don''t think my situation is ideal, and would prefer to have one that people here talk about in the US where they over you a cash out option, as I my policy states that they generally like to replace jewelry items. But could not find a place that will just insure jewelry by itself (so would love to know if you find anything out, because then I might change), so just went with this option, as I was getting worried about having no insurance.

I hope others are able to help you, and would love it if you could share if you find out anything useful from Chubb.

 

[bling addict]

That''s good info you have Honey, I might look into AAMI, because I would like to have a cheque sent to me if I have to replace anything. Thanks for sharing.

 

[Deelight]

Thanks Honey thats good to hear about AAMI (I definitely call them) I actually called Suncorp tonight and spoke to them my BF used to work for a quite a large electronics place and he said out of all the insurers Suncorp was the easiest to deal with hence why I called them first but the girl I spoke to didn''t deal in claims so I am not sure how knowledgeable she really was. The girl on the phone was trying to tell me they replace new for old and used a TV as her analogy

and that I would find it hard to find someone in Australia that would offer a cash out policy. I don''t want new for old in the event of something I want the exact same ring back setting, diamond specs etc hence why cash out where I can pick it is the best option like you said no frozen spit

I shudder to think where in the Aussie market they might source a ring and for the price he paid, diamonds here are expensive. I would be happy to pay $200 a year for peace of mind, neither one of us could comfortably want to replace the ring out of our own pockets should something happen .

bling addict I will definitely share any info it would be good for other Aussies to have a reference point here as well (we are a growing presence on PS

). I plan on calling chubb tomorrow as well and I will see what they say and share details .

 

[arjunajane]

Dee, I am so glad you have bought this up. And Honey you have given some excellent info there.

I actually work for an ins. co. (I know, I know the enemy aarggh!)

And I have to admit there is a serious lack for this sort of specialized insurance in australia.

I completely agree that in our unique situation as PSers who buy jewelery abroad, a cheque payout is the ONLY way to go for a claim. Even though I know from experience that our claims dept at my work are fair, I have no idea where they would start trying to find a replacement for a GOG or WF stone within Perth, or even Australia!

I don''t think its that Aust. Co''s would purposely try to "rip you off", its just simply more ignorance about the quality we''re looking for, and what they believe to be acceptable based on the (mainly) sub-par goods that are offered in the shops here...

So, to my point...(trust me, there is one here!

) - At the moment none of my jewelry is insured - GASP! - I know, pls don''t take away my PS membership!
My circumstance is a little dificult, as I am renting and therefore don''t have home owners ins. Our contents are covered under the Landlords'', who is family. But I have no idea how I would go about adding personal specified valuables for my items, seeing as I''m not the policyholder.

At the moment, this doesn''t really concern me. But if (I mean, when

) I get the ering upgrade I''m considering, I''ll really need to look into it closer. From what Honey has said AAMI sounds like a goer - however I do get about a 40% staff discount so I wish my work offered cash payout!!...I will check up tomorrow and let you guys know.

Sorry for the reeeaally long post gals. - maybe too many wines with dinner..?

xx

 

[honey22]

Date: 5/6/2008 7:10:29 AM
Author: arjunajane
Dee, I am so glad you have bought this up. And Honey you have given some excellent info there.

I actually work for an ins. co. (I know, I know the enemy aarggh!)

And I have to admit there is a serious lack for this sort of specialized insurance in australia.

I completely agree that in our unique situation as PSers who buy jewelery abroad, a cheque payout is the ONLY way to go for a claim. Even though I know from experience that our claims dept at my work are fair, I have no idea where they would start trying to find a replacement for a GOG or WF stone within Perth, or even Australia!

I don''t think its that Aust. Co''s would purposely try to ''rip you off'', its just simply more ignorance about the quality we''re looking for, and what they believe to be acceptable based on the (mainly) sub-par goods that are offered in the shops here...

So, to my point...(trust me, there is one here!

) - At the moment none of my jewelry is insured - GASP! - I know, pls don''t take away my PS membership!
My circumstance is a little dificult, as I am renting and therefore don''t have home owners ins. Our contents are covered under the Landlords'', who is family. But I have no idea how I would go about adding personal specified valuables for my items, seeing as I''m not the policyholder.

At the moment, this doesn''t really concern me. But if (I mean, when

) I get the ering upgrade I''m considering, I''ll really need to look into it closer. From what Honey has said AAMI sounds like a goer - however I do get about a 40% staff discount so I wish my work offered cash payout!!...I will check up tomorrow and let you guys know.

Sorry for the reeeaally long post gals. - maybe too many wines with dinner..?

xx

Hey there. I am sure you know this cause you work in insurance, but my sister is renting and she just has a contents policy (designed for renters), you could add your rings to that.

I am FORBIDDING YOU to get that new upgrade from GOG until you sort out insurance missy!!!

 

[Deelight]

OMG AJ you definitely need insurance I second honey no upgrade till you insure.

 

[bling addict]

Hi AJ,
I am in pretty much exactly the same situation as you, renting from family a furnished apartment, and I didn't have insurance, but as I bought more jewelery I got kind of anxious, so I have my own contents insurance now. At times it seems crazy (because the only things we own are the bed & mattress, a cheap tv, a few other cheap appliances and our clothes pretty much, but my policy covers everything in and out of home so I guess its good cameras and ipods are covered too), but I had to get a certain amount of contents insurance to even be able to add my jewelry, which is not particularly cost effective, but it does give me peace of mind, and we are hoping to move later in the year, so then it won't be such a waste!

I'd love to find a jewelry only policy though!

Also Deelight, I have Suncorp car insurance and have always found it really hassle free to make claims, and my parents have Suncorp home insurance and they have had no problems when they have made claims, they have given them a cheque to cover items damaged by flood, and they were able to use that to buy what they wanted, not sure how it would apply to jewelry though, as GIO is a related company to Suncorp and they seem to have pretty much the same policies (I looked at both when I was selecting my insurance).

Also I was wondering Honey, I read the policy documents for AAMI "Home Contents Insurance Policy" available on their website, and nowhere in it does it say they will definitely give you cash, from what I have read it says they will pay up to the amount it is insured for (p12 extras cover) and they will choose to repair or replace new for old p25. So I was wondering did you have to specifically ask for them to provide this guarantee in your particular contract?? Otherwise, it seems like they could still choose to repair or replace new for old (at their discretion),rather than send a cheque? I just wanted to check with you in case I change companies when my policy expires

I'd really love the cash out option.

 

[katebar]

*slinking in* I don''t have my ring insured either. My insurance value is about 18000 and as Garry said insurance is exy. My ring is never ever off my hand and I have the setting checked every 6 months. Our broker did the maths and I recall the premium would have been over $2000 per year.
I still am looking for the elusive policy that =gives me a cheque+ doesn''t cost an arm or a leg but *sigh* i haven''t found it yet and it does concern.
All my other jewellery is insured and listed though on our household policy.

 

[honey22]

Date: 5/6/2008 8:17:13 AM
Author: bling addict
Hi AJ,
I am in pretty much exactly the same situation as you, renting from family a furnished apartment, and I didn''t have insurance, but as I bought more jewelery I got kind of anxious, so I have my own contents insurance now. At times it seems crazy (because the only things we own are the bed & mattress, a cheap tv, a few other cheap appliances and our clothes pretty much, but my policy covers everything in and out of home so I guess its good cameras and ipods are covered too), but I had to get a certain amount of contents insurance to even be able to add my jewelry, which is not particularly cost effective, but it does give me peace of mind, and we are hoping to move later in the year, so then it won''t be such a waste!

I''d love to find a jewelry only policy though!

Also Deelight, I have Suncorp car insurance and have always found it really hassle free to make claims, and my parents have Suncorp home insurance and they have had no problems when they have made claims, they have given them a cheque to cover items damaged by flood, and they were able to use that to buy what they wanted, not sure how it would apply to jewelry though, as GIO is a related company to Suncorp and they seem to have pretty much the same policies (I looked at both when I was selecting my insurance).

Also I was wondering Honey, I read the policy documents for AAMI ''Home Contents Insurance Policy'' available on their website, and nowhere in it does it say they will definitely give you cash, from what I have read it says they will pay up to the amount it is insured for (p12 extras cover) and they will choose to repair or replace new for old p25. So I was wondering did you have to specifically ask for them to provide this guarantee in your particular contract?? Otherwise, it seems like they could still choose to repair or replace new for old (at their discretion),rather than send a cheque? I just wanted to check with you in case I change companies when my policy expires

I''d really love the cash out option.

Hi there. I queried this point with a few different people, as I read the same thing (and was concerned). I believe as I have it insured as a specified valuable, or whatever they call it (brain fried today), I have it insured as a specific item, for the amount I chose. It''s not just another TV or DVD player or some unlisted, un-itemised thing that is covered under the blanket of ''contents''. I could chose to insure the ring for say $10k and pay the increased premium on that amount, and in the event of a claim, they will pay me the money. They also told me that the new for old replacement is for items such as the ones I just mentioned, and not for jewellery as it''s very difficult to replace something with such varying degrees of value. If I needt to claim it, I can provide my invoice, certificate etc and they will send me the cheque. The lady explained that they don''t want their customers to end up with some cheap replacement ring (she seemed to totally understand my panic over new for old replacement), it will either be replaced to my satisfaction (which she said can be near impossible with jewellery) or they will give me the cheque. I made it clear that I would only want an ACA from Whiteflash as a replacement as I went to the trouble of purchasing overseas to get the quality I wanted, and then she said that''s fine, they would in that case send me a cheque so I could purchase again overseas. OMG have I just talken total jibberish>! I really hope this makes sense. But please, if you are still concerned, give them a call and explain the situation fully - ie. you don''t just want blanket contents insurace, you want to insure it as a specified valuable.

 

[bling addict]

Thanks for clarifying Honey

Most helpful!

 

[arjunajane]

Date: 5/6/2008 7:40:05 AM
Author: honey22

Date: 5/6/2008 7:10:29 AM
Author: arjunajane
Dee, I am so glad you have bought this up. And Honey you have given some excellent info there.

I actually work for an ins. co. (I know, I know the enemy aarggh!)

And I have to admit there is a serious lack for this sort of specialized insurance in australia.

I completely agree that in our unique situation as PSers who buy jewelery abroad, a cheque payout is the ONLY way to go for a claim. Even though I know from experience that our claims dept at my work are fair, I have no idea where they would start trying to find a replacement for a GOG or WF stone within Perth, or even Australia!

I don''t think its that Aust. Co''s would purposely try to ''rip you off'', its just simply more ignorance about the quality we''re looking for, and what they believe to be acceptable based on the (mainly) sub-par goods that are offered in the shops here...

So, to my point...(trust me, there is one here!

) - At the moment none of my jewelry is insured - GASP! - I know, pls don''t take away my PS membership!
My circumstance is a little dificult, as I am renting and therefore don''t have home owners ins. Our contents are covered under the Landlords'', who is family. But I have no idea how I would go about adding personal specified valuables for my items, seeing as I''m not the policyholder.

At the moment, this doesn''t really concern me. But if (I mean, when

) I get the ering upgrade I''m considering, I''ll really need to look into it closer. From what Honey has said AAMI sounds like a goer - however I do get about a 40% staff discount so I wish my work offered cash payout!!...I will check up tomorrow and let you guys know.

Sorry for the reeeaally long post gals. - maybe too many wines with dinner..?

xx

Hey there. I am sure you know this cause you work in insurance, but my sister is renting and she just has a contents policy (designed for renters), you could add your rings to that.

I am FORBIDDING YOU to get that new upgrade from GOG until you sort out insurance missy!!!

ha ha i know i''m naughty. I have to admit, until PS insurance never really concerned me - I have had my ering for over 3 yrs and have never even had a scare.

But you''re right, I need to do something about the new rock. Point taken!

Unfortunately I''m pretty sure my work will only replace, not pay out. So I will have to shop elsewhere without discounts

Or...time to pull some strings and open their eyes to the REAL world of fine jewelery!

 

[Deelight]

Still on the hunt for an insurer, I just want this sorted before my diamond gets sent off to be set heaven forbid something happen or I lose it while I am OS

I contacted Chubb Australia today they have a masterpiece policy that you can insure for standalone items You can read it here. The girl I spoke to was really quite helpful and understood exactly what I wanted and why which was nice but did inform me that the policy minimum was either 10k or 15k she was not sure. They have a cash out policy and will cover you worldwide which is handy if your traveling. You can''t directly as a consumer go through them to get insurance you have to use an insurance broker which she gave me a website for NIBA. If I can get anymore information I will post, I am also hoping that it is seriously not cost prohibitive either.

I plan to contact a broker tomorrow and see what they have to say while I would rather add it to my home policy at this stage it does not seem viable at this stage.

I also forgot the add the lady I spoke to previously from Suncorp gave me the number for the insurance ombudsman she said they may be able to help locate a policy. Their number is 1300 780 808 I am not sure how much help they will be but they might have an idea of policies available.

 

[bling addict]

Thanks for the update Deelight

 

[arjunajane]

Hey Dee, thankyou for the info - i was reading about the chubb masterpiece policy myself ,but have been too lazy to find a broker

I ,like you am hoping its not ridiculously expensive as it seems to be the only type that matches us PS''ers needs around here.

I need to do some more digging, as the Ins. Co I work for usually replace from local maul stores - no thanks.
I''m enquiring whether they can put on a clause that i want it replaced from GOG etc..Plus I get 30% off insurance as staff, so hopefully it works out!
I will post for anyone if they''re interested - but we''re WA based only.

As for the insurance ombudsman, its kinda the nbr we give out when we can''t/don''t want to accept someone''s risk - but its definately worth a try.
Please let us know how you go with Chubb, I will be v. interested!

 

[chiquitapet]

Hi Dee,

I have Chubb insurance (Q-Report) on my e-ring, which was set up by MDX. They are much less expensive than I thought and their policy is excellent for peace of mind. It was much cheaper for me to go with them than set up home contents insurance, which I don''t really need at this stage.

It cost me $220 to set up the policy and this also included my premium for the year. They send you a nice fancy booklet with specifications and pics of your setting and stone. The annual premium I believe is about 1-2% of the value of the ring. Sorry I don''t remember the exact number, I just remember it was much more cost-effective for me in comparison to home contents insurance as my ring is relatively inexpensive when compared to PS standards.

Hope this helps.

 

[honey22]

Date: 5/20/2008 8:11:04 AM
Author: chiquitapet
Hi Dee,

I have Chubb insurance (Q-Report) on my e-ring, which was set up by MDX. They are much less expensive than I thought and their policy is excellent for peace of mind. It was much cheaper for me to go with them than set up home contents insurance, which I don''t really need at this stage.

It cost me $220 to set up the policy and this also included my premium for the year. They send you a nice fancy booklet with specifications and pics of your setting and stone. The annual premium I believe is about 1-2% of the value of the ring. Sorry I don''t remember the exact number, I just remember it was much more cost-effective for me in comparison to home contents insurance as my ring is relatively inexpensive when compared to PS standards.

Hope this helps.

Hi chiquitapet! I also checked out this policy when I bought my ring from WF, but they will only replace the ring (or give you a credit towards the insured amount) at one of their preferred jewellers/vendors. Obviously MDX is one, so if I lost my WF ring, I could only have it replaced by one of their jewellers such as MDX. I was considering a stone from MDX and would have bought that policy in a heartbeat if I have purchased from there, but it just doesn''t cover you properly for goods that we have bought from overseas such as WF or GOG. But definately a goer for customers of vendors like MDX.

 

[Deelight]

Thanks chiquitapet I guess I won''t really know till I get a quote but 1-2% of the total value of the ring does not seem that bad .


Honey Stated on their website here it says

Optional cash settlement
In the unfortunate event a valuable item is irreparably damaged or lost, you can choose to take cash rather than replacing if it suits you better.

I guess I will know more when I actually read the whole 30 something pages and/or talk to a broker.

AJ I think your right with the ins ob''s number, I think I scared the girl I spoke to initially.


I am determined to find a decent option here

 

[krisvrn]

I have Travelers Insurance. Give them a call, they will insurance for actual value and give that amt for pay-out should the ring be lost, stolen, disappear, etc.

 

[honey22]

Date: 5/20/2008 9:23:41 AM
Author: Deelight
Thanks chiquitapet I guess I won''t really know till I get a quote but 1-2% of the total value of the ring does not seem that bad .



Honey Stated on their website here it says



Optional cash settlement

In the unfortunate event a valuable item is irreparably damaged or lost, you can choose to take cash rather than replacing if it suits you better.


I guess I will know more when I actually read the whole 30 something pages and/or talk to a broker.


AJ I think your right with the ins ob''s number, I think I scared the girl I spoke to initially.



I am determined to find a decent option here

Hi Deelight! I am confused! I have never seen that website?! I am a bit dense this morning. Is that for Chubb? I am insured with AAMI. I am sure the answer is staring me in the face, but I am in the lab at 6.30am this morning and my brain hasn''t quite woken up yet

 

[arjunajane]

Date: 5/20/2008 5:06:32 PM
Author: honey22

Date: 5/20/2008 9:23:41 AM
Author: Deelight
Thanks chiquitapet I guess I won''t really know till I get a quote but 1-2% of the total value of the ring does not seem that bad .



Honey Stated on their website here it says



Optional cash settlement

In the unfortunate event a valuable item is irreparably damaged or lost, you can choose to take cash rather than replacing if it suits you better.


I guess I will know more when I actually read the whole 30 something pages and/or talk to a broker.


AJ I think your right with the ins ob''s number, I think I scared the girl I spoke to initially.



I am determined to find a decent option here

Hi Deelight! I am confused! I have never seen that website?! I am a bit dense this morning. Is that for Chubb? I am insured with AAMI. I am sure the answer is staring me in the face, but I am in the lab at 6.30am this morning and my brain hasn''t quite woken up yet

apparently this is for Chubb - now go and get some coffee!

 

[Deelight]

Yup it is for Chubb their Australian branch.

Unfortunately I was out all today so did not get a chance to call the NIBA I really should get a wiggle on LOL

krisvrn do you have a website for that insurer?

 

[chiquitapet]

Hello ladies!!

I pulled out my policy and had a little read. It says that if they can''t replace the valuable, then at their discretion they will offer a cash payment. So it`s fair to think that if you lost/damaged your Leon, they wouldn''t be able to replace it here in Aussie, and would give you cash. I`m curious what the broker will tell you.

 

[Deelight]

I called two brokers today

The first one was a Beeeatch

did not even want to bother talking to me because I was not interested in doing contents insurance and I only wanted a stand alone policy. Seriously how hard is it love I have done the research for you all I am asking you to do is freakin SIGN ME up

.

The second one tried to tell me that Chubb does not offer a stand alone policy and again tried to push contents, I politely informed her they do and that no I was not interested in contents. I was told to email her and she will get back to me so now I wait and see.

This insurance business is a serious pain in the Freakin kazoo, it really should not be this hard.

Thanks for listening to me whinge.

 

[chiquitapet]

Dee, so sorry to hear it`s such a difficulty insuring a ring. Who would have ever thought...

Are you considering the home contents if they don''t let you have the stand alone policy?

 

[Deelight]

Hey chiquitapet

I actually found an insurance broker that is willing to help I have to call him today and talk it over but he was really nice and willing to look for solutions rather then being a poohead like some of the others I spoke to.
I will report back when I have some definite news

 

[arjunajane]

Hey Dee,
I am going through the same thing as you right now, trying to get insurance before the new ring arrives.
I think Chubb''s whole issue is how you have to go through a broker - I agree with you its really hard to find someone who knows what they''re actually selling!

Through a number of discussions, I have come to the conclusion it will actually be cheaper and easier for me to take out contents with a valuables add-on policy.
With Chubb, after you pay brokerage fees, it can work out very expensive

I was fortunate enough to come across a nice broker who was willing to talk me through it, even though in his opinion I was better off getting the contents etc elsewhere.
He is going to get some definitive answers for me from Chubb about their policy - ie. how much is the minimum sum insured etc. I will update here after I speak with him.

I think I will just take out a regular ''ol policy with a valuables add-on, and make 100% sure that there is an agreement my ring needs to be replaced from the vendor I got it in the US. fingers crossed!

 

[arjunajane]

Just an update if anyone''s still interested:

I''ve been advised by a couple of different brokers that to take out the stand alone policy for jewellery from Chubb, the minimum sum insured is $25,000

And apparently thats per item, not per policy

 

[Deelight]

Date: 6/25/2008 4:02:18 AM
Author: arjunajane
Just an update if anyone''s still interested:


I''ve been advised by a couple of different brokers that to take out the stand alone policy for jewellery from Chubb, the minimum sum insured is $25,000

And apparently thats per item, not per policy

Oops I forgot to mention that, I still have not found insurance but at this stage I am thinking of getting home and contents with Chubb and insuring the ring separately with that. Traveling with the ring as well while we are OS chubb will insure whereas others will not.

The broker I spoke to turned out to be an ahole did not return calls I chased him once then thought stoof you, so if anyone knows a decent broker hook me up .

AJ did you beauty arrive yet?