Diamond Insurance

[imjulia]

I just purchased a stone (with the knowledge I learned from this site, thank you very much!) and promptly took it for an appraisal and sent the papers to my Allstate agent. He said he would put a "rider" on my homeowners policy for the stone, and is going to charge me $16 PER thousand (of appraised value) PER year!!! Incidently, I have my auto policy with this agent also, so I do get multiple policy discounts. Obviously not on the diamond though. It seems to me that my diamond should not cost more per year than the contents of my home!!! Am I getting ripped off? Help!

 

[lawmax]

Hi,Congratulations on your purchase!As you know, you live in an area where insurance and other things are quite expensive.As long as you're looking into insurance and the replacement policy you're looking at is quite expensive, you may as well check out Chubb Insurance, www.chubb.com. Their insurance is Agreed Value which means that if you have a loss, they pay you in cash so you can buy whatever you want. With the replacement type, they get to choose what diamond will replace the one you lost.Good luck,lawmax

 

[imjulia]

Wow! 3X! Ouch! Perhaps I should just buy an additional stone for my own "insurance"-ha!Thanks for the info!

 

[Garry H (Cut Nut)]

Our insurance down under is more like +3 times that amount