Chubb and appraisals

[jack411]

Just wondering if Chubb is one of the insurance companies that only accepts appraisals from GIA certified appraisers. Anyone ever had a problem of not getting paid on a claim or being cancelled? How can you tell that an appraiser is certified?

 

[Regular Guy]

I don''t know that Chubb requires an appraisal at all, unless you''re insuring for more than $50 K.

I don''t believe any appraiser is certified at all by GIA, though GIA provides coursework they may take.

Instead...other replacement type insurers will require an appraisal...however...any document and documenter representing they can do the job will probably suffice.

 

[motownmama]

I had a pair of studs stolen that my DH had paid $1600 for and Chubb paid within a week - they were not appraised - I just had the receipt. Anything item below $5000 is blanket covered on our homeowners - so I have my ER and line braclet scheduled separately, but that''s all. Chubb is great!

 

[jack411]

motownmama,

I have a large collection of jewelery that was passed down. Some pieces have appraisals in the 20k and 30k range. I know Chubb''s policy requires appraisals for items over 50k, but is that individual items or all items combined?

Thanks!

 

[denverappraiser]

As mentioned by Ira above, GIA does not certify appraisers and assuming you are talking about a new purchase where you’ve got even minimal documentation from the seller, Chubb doesn’t require an appraisal at all.

It’s worth noting that meeting the minimum requirements of the insurance companies is not very difficult. It’s not the insurers who should be picky about appraisals, it’s the insured. The appraisal becomes part of a contract between you and the insurance company and the difference can be very significant.

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