Chubb Insurance Policy Question

[bettyboop]

Hi all,
I''ve been lurking for a bit and have enjoyed all the beautiful rings and the great info I''ve read on varying topics. Thanks to this site, I went ahead and got a Chubb policy issued and dropped the jewelry rider from my renters policy. I received my Chubb policy papers today and in reviewing them, the description has the clarity of my diamond listed incorrectly (its says my stone is an IS and it''s an IF) and doesn''t even mention the specs of the diamond other than the color and clarity and carat weight. There is no mention that it has been GIA certified nor the GIA cert #. In comparison, my old Safeco policy included all this info. They pretty much copied all the information from the GIA cert and kept a copy of the appraisal done by Nancy Stacy.

I wanted to ask all those w/Chubb policies whether this is how their policies describe their e-ring sets? I''ve left a voicemail message for the agent to call me on Monday to address these concerns.

Betty

 

[sasa]

Hmm...I have chubb also, is the policy the insurance statement. It didn''t list anything on the statement.

 

[ame]

Basically, I TOLD her exactly what to say then faxed over a typed out version because Im nota good speaker (mumbling) and had my appraisals, etc, with that fax for verification.

When I swap my w-ring out, I will make sure she puts that on the policy as it should be. I also saw that she didn''t put the inscribed number back on when I changed the policy to include our w-bands.

 

[Shay37]

I don''t know how significant it is because is a cash-out policy rather than replace with like kind. It''s insured for what you will receive the check for. They are not going to try to find you a comparable diamond. That will be your job when the check comes in.

Shay

 

[RockDoc]

Probably just a typo.

I would think you forwarded the GIA or AGS report for your stone, so that will certainly straighten out any confusion, should you experience a loss.

But, certainly you''re right in asking for the typo and any other concerns to be corrected.

Rockdoc

 

[bettyboop]

Understood that Chubb is a cash out policy but since they provide up to 150% of the insured value I want to make sure there aren''t any questions that arise if my replacement would hit the 150% end vs. closer to the original appraised value. I''m just suprised when I compared the Chubb policy description vs my Safeco policy description. I''ll let you know how it goes on Monday when I speak to the agent and I''ll probably fax her over a copy of the Safeco description. I may do exactly what ame did and email her over the exact wording I''d like to see.

- B

 

[Shay37]

Bb, I would definitely update their files then. If it makes you more comfortable to do so, then that is what you need to do. The more info they have the better.

Shay