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Chubb Insurance

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joseph

Rough_Rock
Joined
Mar 25, 2003
Messages
3
I just called Chubb (1-877-972-8282) to get insurance on an engagement ring and they stated they could not issue a policy until I had the appraisal done. They also insisted I get the ring insured for the full value of the apraisal. In reading message boards and doing research, I thought I remember reading that they only needed a receipt of purchase to insure the ring if I wanted to insure the ring for what I paid. Is this correct or was the lady simply trying to get me to pay more through a higher premium?
 

Mara

Super_Ideal_Rock
Joined
Oct 30, 2002
Messages
31,003
I think that most companies require an appraisal to insure a stone. Ours certainly did, through both State Farm and Chubb. Your purchase price may be one # and your appraisal may be an entirely different #. People buy stones for $10k and then insure them for $15k when the appraisal comes back at that amount. Or vice versa (!).
 
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