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Can you insure a loose stone?

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beaujolais

Ideal_Rock
Joined
Dec 4, 2007
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2,216
"Little Yellow", in my avitar, is going for a repolish to fix some girdle chips and such. However, State Farm (who my homeowners and other stone is insured with) told me they don't insure unset stones. Ideas?

It would appraise at a good amount more than what I paid for it, however, I don't want to get the appraisal until it is fixed.

Thanks.
 

Regular Guy

Ideal_Rock
Joined
Jul 6, 2004
Messages
5,958
Before I suggest Jeweler''s Mutual, who I think will do it, so long as you properly present your plan to have it set...I''m not sure you''ve asked the right question of your current provider, if your diamond IS going in for some repair or maintenance.

I hope an expert will come on & review...
 

beaujolais

Ideal_Rock
Joined
Dec 4, 2007
Messages
2,216
Thanks Regular. Yes, I told them it was going in to be repolished. Their answer was still no.
 

denverappraiser

Ideal_Rock
Trade
Joined
Jul 21, 2004
Messages
8,993
Not even JM will insure a diamond while in the hands of a cutter (you can insure against loss by theft, fire etc. but not against craftsmanship issues with the cutter).

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver
 
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