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e ring insurance-advice needed

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missismene

Shiny_Rock
Joined
Jan 9, 2009
Messages
155
hi ladies,
i have heard a certain ring insurance company mentioned over and over again. but i am searching for it and am unable to find it.
also i have heard negative things about adding ring to home owners insurance.
thank you for any input/advise.
 

diamondseeker2006

Super_Ideal_Rock
Premium
Joined
Jan 11, 2006
Messages
55,539
Jewelers Mutual is one and Chubb is the other. The downside to JM is that you have to periodically have the ring checked to maintain the insurance. You can have it added to homeowners if you have a very good description of the stone (GIA ot AGS cert) and ring and have it added as a rider where all losses are covered. Don''t insure for an inflated amount.
 

AmberGretchen

Ideal_Rock
Joined
Jan 6, 2005
Messages
7,770
Ditto on JM and Chubb. We''ve actually used both - my only complaint about Chubb is they dropped us after what I thought was a relatively small number/$ amount of claims, so I''d be aware that that is a definite possibility.

But other than that, both companies have been really easy to work with, great customer service and wonderful coverage.
 

Diamond Confused

Shiny_Rock
Joined
Jan 14, 2008
Messages
395
Contact a reputable insurance brokerage; they''ll know best and have the ability to compare coverage and prices with various insurance companies.

I worked at a brokerage for 7 years and i can say with confidence tht letting them do the work is best. Most don''t charge broker fees either.
 

rockin11

Shiny_Rock
Joined
Feb 8, 2009
Messages
169
I had my ring insured under homeowners (Metlife) and only had to give an appraisal from the jeweler I purchased it from. I made a claim back in Dec. I sent the ring in(it was damaged) and they sent me a nice check the next day. Since I made a fairly decent claim, they were unsure they would insure me again for another ring..since I didn''t want to be without insurance while they were reviewing the appraisal and such..I just decided to go elsewhere. I ended up getting a policy just for the ring through State Farm. Again, all I had to do was bring in my appraisal from the jeweler I purchased it from.
 

BigDiamonds

Brilliant_Rock
Joined
Mar 29, 2007
Messages
702
I have a Chubb policy through Touchstone. You can find a link on the Whiteflash page. They sell Chubb and GemShield. I worked with Ralph who was extremely helpful and great to deal with.

Depending on the value of your ring, you can add it to your renters/homeowners policy. The disadvantage is that your claims settlement provisions are likely not as good as a jewelry-specific policy. I chose Chubb because you have the option to cash out the policy limits if the ring is lost/stolen. Then you can do whatever you want with the money, such as buy a completely different ring. On your homeowners policy, you will probably be required to work with one of their approved jewelers and you will have to get the same thing you had before. The advantage is that it''s probably cheaper than a stand-alone policy. The rate on my Chubb policy is $1.60 per $100 of coverage, or $160 annually for $10k limit. I think the quote from State Farm to add to my renters was about half that.

Hope that information helps!
 

Haven

Super_Ideal_Rock
Joined
Feb 15, 2007
Messages
13,166
I used William Castro with Total Dollar to get my Chubb e-ring insurance. I found him through several Pricescope referrals, and he''s wonderful to work with. I live in IL, and Mr. Castro is in NY, which wasn''t an issue at all.

The other thing is that some insurance representatives will lie and tell you that Chubb doesn''t do stand-alone policies, don''t listen to them. They do. (There have been multiple links about this here on PS.)

Total Dollar
William Castro
Account Executive
Phone: 516-833-1550
 

neatfreak

Super_Ideal_Rock
Joined
Feb 17, 2007
Messages
14,167
Date: 3/14/2009 11:08:11 AM
Author: Haven

The other thing is that some insurance representatives will lie and tell you that Chubb doesn't do stand-alone policies, don't listen to them. They do. (There have been multiple links about this here on PS.)
But they won't if the value is under $10k I believe...but I might be wrong.
 

beach

Brilliant_Rock
Joined
Dec 16, 2007
Messages
714
I insured through Gemshield. They allow clients to pick the jeweler of their choice if a problem occurs. Their prices were better when compared to Jewelers Mutual.
 
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