Dumb question about insurance and apprasials...

[fullhead]

Hi,

I''m planning on picking up my e-ring and presenting it on friday. I''m sure she''ll want to wear it the weekend through, as she well should.

So, should I have the appraisal taken care of before giving it to here? And how does insurance work - does renters insurance cover it or are their separate policies for this sort of thing.

Lastly, can anyone recomend an appraiser in San Francisco?

Muchos Grac!

 

[verticalhorizon]

If you choose an appraiser that's local to you, you can wait until after presenting if you like. Your intended may like going through the process with you.

Renters or homeowners insurance won't cover most of an engagement ring. You will need a separate rider from your existing insurance company or another. There are two main types: Replacement (done by the insurance company based on the info you give them or cash value. I don't know about you, but after everything that goes into buying an e-ring, I'd rather have the control over replacing it.

You will need an appraisal to start the insurance process, however. If you choose one of the fine appraisers on this forum, you can ship it to them, but then you'll be w/o the ring for longer.

 

[questionsRus]

i just realized something...insurance? i am in college, i don't have any insurance. what kind do i need? i hadn't even thought about it until you asked your question fullhead. and if anyone's question is dumb it's mine

 

[verticalhorizon]

If you have an engagement ring, then yes. If you just want to insure your stuff... probably not. How much could a college student have collected? I never thought about that when I was in college, despite having left my door wide open most days!

The good old days!

"I keep getting older, but the girls stay the same age." - Dazed and Confused

 

[oldminer]

Your fiance's parent's homeowners insurance generally can cover her ring, even while she attends college. If she has an apratment, she can insure the ring under the renter's policy she may have for her other valuables. She may have no insurance, but now, maybe she should go get some. You can get used to the idea now and offer to pay for the coverage......

 

[msb2ncsu]

I called yesterday to my company (USAA) toa sk about insuring a $10,000 ring and they said what I get is called a floater because the value is higher than normal value for a household product. I also don't ahve homeowner's or renter's insurance because I do neither at the moment, but they said they can handle that just fine. Just call up your favorite agent and ask. Oh and for the calue I gave them she said it would be roughly $100 a year.

 

[questionsRus]

all right, thanks! so, back to fullhead's question, should the diamond be appraised separately before getting it set? also, after getting it set, should a second appraisal be done on the entire ring? fullhead if you want me to not ask questions on here i can start my own thread. my parents use USAA, i will have a USAA policy once i'm on my own. you must be somewhere in the government/military sector

 

[msb2ncsu]

Appraise the entire ring, the setting can be an extra $1,000 for basic platinum so you want to have no doubt that its covered too. Extra appraisal on the diamond itself can do nothing but help but it isn't required. I believe all she said I need is the proof of purchase price, the AGS cert or similar documentation identifying the diamond properties, and verification that the diamond is in fact the one listed on the sheet. She was pretty sure I didn't need a seprate independent appraisal because the combination of documents offered enough (but she was gonna double check for me).

My father was in the Army for 26 years. USAA is the absolute best company to be associated with!

 

[NewShiny]

Don't forget about Jewelers Mutual: www.jewelersmutual.com

They will insure single pieces of jewelery of almost any amount, and you don't have to have other policies such as homeowners or renters ins.