getting diamond and setting from different vendors?

[hoynnij]

Hi all,

I know (from looking through the entire SMTB thread!) that a lot of you have sourced your diamond and setting from different vendors, and its looking like I will have to do the same.

Can you explain to me how you got your loose diamond insured prior to setting, to cover for possible damage during setting? What company will insure for this?

Or did you take the risk and have it set without insurance?

I'm at a bit of a loss on this - I tried searching for the information but came up with nothing.

Many thanks,

hoynnij

 

[tpan413]

I just did this last week. I bought the diamond from Whiteflash and had it set at Good Old Gold. Jewelers Mutual (Now Perfect Circle) will insure the ring while it is being set. I purchased the policy and uploaded a copy of the receipt from Whiteflash and I also got an estimate from Good Old Gold on the price of the setting.

 

[hoynnij]

Thanks for your response - I will look into them.

Anyone else with other suggestions/insurers?

I was thinking that I could also get the gem setting done by the vendor from whom I obtain the diamond from, as this is the higher value item...

 

[SB621]

Typically I just ensure the loose diamond and then once it is set I just update the policey to include the setting. I have USAA though and they are very easy to work with. The only vendor that has required proof of insurance is WF. Every other vendor I have worked with hasn't asked for it.

Honestly most of the vendors on PS are honest and trust worthy so I wouldn't worry too much about something happened. They are extremely competent in their bench work. However, I completely understand wanting to cover the "what ifs"- I would just insure the loose stone.

 

[diamondseeker2006]

Sarah, a lot of insurance companies don't insure loose stones, apparently, so that is why people use JM when needing to insure before setting. I didn't realize they had changed names, though!