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Do I need insurance for my 4 Ct ring?

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Butterfly123

Shiny_Rock
Joined
Apr 5, 2007
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116
Hello Everybody
I was wondering what everybody is doing regarding insurance for the E-ring. My husband and I married 4 years ago and I have a 4ct ring which in the beginning we insured and it cost us $ 700 annualy. Since we don''t currently own a home and we don''t have home insurance, we canceled the insurance for just E-ring so at this point I don''t have an insurance for my ering. Now I am questioning if it was wise to cancel?? I wear the ring every day.
Any thoughts appreciated.

Also since I wearing the ring everyday, how often is cleaning recommended? Obviously when I clean it at home, in the box with liquid, it sparkles much more. I also cleaned it in a jewelery store 3-4 times already and I loved the sparkles, but now I wonder how often is to often.
Thanks for your help.
 
If you can easily (key word there) afford to replace it should it be lost or stolen, then I guess you don't need to insure (can you?). It's a gamble.


I clean my ring every day. A clean diamond is a happy diamond!
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Thanks Ellen. Can you tell me how do you clean your ring? In a substance that jewelry stores sell (liquid in a box) or are there other ''tricks''? Thanks
 
Ditto, if you can easily afford to replace it without financial pain, then don't insure it, otherwise it is a must in my opinion.

Yes, a clean diamond is a happy diamond
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, so clean away as most of us PSers do at least once a day!

ETA - I use sudsy ammonia for cleaning with water for major cleans, undilute Windex, and Scrubbing Bubbles which a pro recommended!
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Also many have ultrasonic machines which work well, try a search for the SI Ultrasonic as there are pages there and cleaning recipes!
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Here you go, ultrasonic thread! https://www.pricescope.com/community/threads/can-you-use-an-ultrasonic-cleaner-to-often.34606/
 
I agree with Ellen and lorelei. the rule of thumb is if you can afford to replace it then you don't need insurance. however, personally I'd keep insurance on it whether or not I could easily afford to replace it b/c I wouldn't want to spend the $ again on a replacement.
 
Date: 10/3/2007 9:48:43 AM
Author: Butterfly123
Thanks Ellen. Can you tell me how do you clean your ring? In a substance that jewelry stores sell (liquid in a box) or are there other 'tricks'? Thanks
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You're welcome!

What do I use? lol An array of stuff, all safe for White Gold. If you have a platinum setting, you are ok to use ammonia in hot water also, which in my opion works the absolute best, but it's not good for WG. I will use it once every blue moon, but I don't soak it in that, just a qiuick scrub.

Let's see, there's

The liquid stuff similar to what you use for quick scrubs, and a gel, both made by Connisuers.

http://www.connoisseurs.com/index.htm

Dawn dish liquid (a few drops) in a cup of hot water.

Rubbing alcohol

But now I mainly use (always in my ultrasonic cleaner, twice a week), is Mr. Clean.
 
I''ve tried using rubbing alcohol and it leaves a film on my stone. I do it at work with alcohol pads from our first aid kit. I always have to polish it after. Am I supposed to rinse it after applying the alcohol?
 
Date: 10/3/2007 10:44:15 AM
Author: Hudson_Hawk
I''ve tried using rubbing alcohol and it leaves a film on my stone. I do it at work with alcohol pads from our first aid kit. I always have to polish it after. Am I supposed to rinse it after applying the alcohol?
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I''m guessing there''s something else in/on the pads, straight alcohol shouldn''t leave a film. I use it from the bottle, and I''ve done it both ways, never a film.
 
You have a 4 ct ring? YES, get it insured.

For cleaning, I just use a toothbrush and a bit of dish soap or baby shampoo and scrub it lightly every day. Works very nicely.
 
Actually butterfly, I have a question for you.

WHY haven''t we seen pictures of this rock/boulder??!
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*waiting*


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If you decide to re-insure it make sure you use the replacement cost NOT the appraised cost. Appraisals are always high. My insurance is based on exactly what I paid. It might make the price a little more reasonable for your 4 ct. Also can you insure just the stone and not the setting?
 
i believe you should insure the ring immediately. i know no one who would not regret having to come up with the cash to replace a 4 carat diamond. my thought is if you can afford the diamond you can probably afford the insurance. if the ring was a freebie then disregard my advice.
 
Butterfly,
If I''m not mistaken, you''re in New York as well. I have a smaller stone and my premium is significantly higher than $700. Be prepared for sticker shock.
 
Yes, we are in NY now moved from CA. I guess the insurance there was cheaper.. BTW, I cancelled the insurance 2 years ago and now wondering if I should have it again or when we have our home insurance can I add the ring to it? I will talk to the agent about the details.

Thanks for tips how to clean the stone. I heard about windex but was not sure if it is a myth.

Ellen, I don''t have a picture of my ring. I will make one and post it soon. It is a round brilliant with 2 baquettes (sp?) on the side and it is in platinum. I love that ring!
Now my husband tells me I have to go and buy something else, like studs, or bracelet or a necklace but at this moment, I don''t have time to shop online or go to the store because we have a little daughter.
Actually, we went to 47th street last weekend and Fortunoff but the dealers on the 47th street are sooo eager to sell you something I feel they will ripp me off if I buy there. I left confused and ofcourse did not buy anything. I started to negotiate and they came with the price down but then I wonder how much more can I negotiate and where to stop..
When my husband and I shopped for my e-ring together, i told him the setting I wanted and he did all his homewokr on diamonds, and it took him a while until he found a good stone, I just don''t have time nor patience for it. But on the other hand I don''t want to spend retail price for diamonds.. HELP!!!!!!!!!!
 
I don''t think there are many folks out there who could easily replace a 4c diamond ring . By all means, check into insuring it right away. As Harriet pointed out, the premium will probably be high, but so is a 4c. replacement.
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Date: 10/3/2007 4:40:44 PM
Author: Butterfly123
Yes, we are in NY now moved from CA. I guess the insurance there was cheaper.. BTW, I cancelled the insurance 2 years ago and now wondering if I should have it again or when we have our home insurance can I add the ring to it? I will talk to the agent about the details.

Thanks for tips how to clean the stone. I heard about windex but was not sure if it is a myth.

Ellen, I don''t have a picture of my ring. I will make one and post it soon. It is a round brilliant with 2 baquettes (sp?) on the side and it is in platinum. I love that ring!
Now my husband tells me I have to go and buy something else, like studs, or bracelet or a necklace but at this moment, I don''t have time to shop online or go to the store because we have a little daughter.
Actually, we went to 47th street last weekend and Fortunoff but the dealers on the 47th street are sooo eager to sell you something I feel they will ripp me off if I buy there. I left confused and ofcourse did not buy anything. I started to negotiate and they came with the price down but then I wonder how much more can I negotiate and where to stop..
When my husband and I shopped for my e-ring together, i told him the setting I wanted and he did all his homewokr on diamonds, and it took him a while until he found a good stone, I just don''t have time nor patience for it. But on the other hand I don''t want to spend retail price for diamonds.. HELP!!!!!!!!!!
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Aw.
I don''t blame you. I browse on 47th quite a bit, but have never bought anything there. I wouldn''t be comfortable doing so unless I had an insider with me.
 
Harriet
if you don''t mind me asking, where do you usually buy jewlery in NYC?
 
I don''t mind. What type of jewellery?
 
diamonds and gold?! Maybe we should go shopping together.. hehe
 
My staple diamonds are from the nice folks at www.whiteflash.com (Texas). By "gold", do you mean finished products or settings? I'd be happy to shop with you during lunchtime.
 
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Lol at Tacori!

Please call an insurance agent asap! We just had someone on here in the past week with a damaged diamond with no insurance. Diamonds can and do chip and even shatter, not to mention they are sometimes lost or stolen. You do not have to put it on homeowners. Our Chubb policy is no more than it would have been to add a rider to homeowners. And if we ever had a loss, at least it wouldn''t affect our homeowner''s policy rates.

If I were in NY, hands down I would go see Jonathan at Good Old Gold on Long Island. He is completely trustworthy and will give you a complete diamond education!
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He also happens to have fabulous diamonds with the advantage of online prices but a real jewelry store to visit. Call and make an appointment before you go. Or, you can call them and do all your shopping by internet and phone, like I did!

http://www.goodoldgold.com/Home/
 
Oh, and some girls here use ultrasonic cleaners, particularly if the ring does not have a pave setting. I just use the jar of jewelry cleaner at home about once a week.
 
Date: 10/3/2007 10:30:59 PM
Author: diamondseeker2006
Lol at Tacori!
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I was left speechless!
 
hahaha, when I read the post I thought you were joking. No offense intended, it just gave me a big smile:)

but I have to ask

Is it slipping off your finger at all possible? Could it ever get caught on something and get lost? do people get robbed at gun point, knife point, or just by big thugs?

If yes to any of those and many more questions left unasked, then I think "4ct" speaks for itself! keep it insured!
 
I have a question for those of you who are injured -- have you ever had to make a claim?
 
Get that baby insured ASAP. A 4 carat stone is hard to find, yet replace. Comes at a huge premium, so talk to your insurance agent please!!!!
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Jewelers Mutual, the most common standalone replacement insurance used around here has a quick premium calculator at http://www.jewelersmutual.com/pj/CalculatePremiumnew.htm.

Wouldn''t hurt to call a Chubb broker for a stated-value policy even though they''re typically more expensive (there have been rare exceptions though!). Who knows what a replacement policy will give you when failing to procure a like 4ct.
 
Harriet
I am looking for finished gold pieces, like gold bracelets, earrings (with no diamonds)

I head sooo many great things about Good Old Gold, I might go there. Why are the prices online are cheaper than in the store? I think I am more comfortable buying in the store because I can see the finished product, but if it is cheaper, I don''t mind buying it online, especially if I know what I want. I will get diamond studs and a pendant. I think 10K will be enough.

After wich report should I look AGS or GIA?

Ofcourse there are risk of losing the stone, or theft, and if it will happen, who wants to replace a 4ct ring.. I agree with everybody.. it is just when the bill came and we had to pay $ 700, we thought I could get something else for the money.. I will try and call the insurance agent and ask what he can do for us.
Thanks all.
 
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