Diamond Insurance

[dallavise]

Hello everyone,
I''ve already bought a diamond online, but I wanted to have it appraised. Is it necessary to go to an independent appraiser? I just called the nearest pricescope recommended appraiser closest to me, which is 2+ hours away. She told me that if it wasn''t necessary to get an independent appraisal, she had recommended some names which were 5 minutes away, which sounds better to me. Also, where to go from there? I want insurance, but I have no idea where to start (I don''t have homeowners insurance, because I don''t own a home). Thanks.

Chris

 

[Griffin]

Most renters insurance covers this as well. It's like homeowners, but just for contents. If you don't have any, look into it. It's brutally cheap, and you have way more money in your belongings than you might think. Even you think it is all worthless old stuff, wait until you have to replace it all at once! Anyway, I don't think any insurance company would write a policy for just jewelry in any case, so it's probably your only bet in any case.

 

[chris-uk04]

I'm in a similar situation as you. Chubb does insurance for engagement rings. I've been working with them as in my particular situation, I have little options. You will have have an relatively expensive enough appraisal for them to insure it and it will be about 2-3% of the value per year.

If you get renters insurance, make sure you read the policy to make sure you are covered for what you need - i.e, breakage, value, theft, etc. Many of these policies sometimes tend to cover what isn't likely to happen.

You can also look into Jeweler's Mutual. They are a bit cheaper, but they just replace your ring with like kind and quality (which can be a big variable in the diamond industry), not give you the money to go find another one yourself.

 

[drdeano]

http://www.jewelersmutual.com/index.html




Fast and easy.. and from what I read on DT forums, they're easy to work with if you have a claim.




Good luck!




DrD