Getting insurance for stone in Canada?

[Lal]

Hello,

I''ve just dropped off my stone at a local jeweller for a custom design. Because we didn''t purchase the stone in Canada (we got it from a pricescope vendor), he says he does not cover for it in case of problems with setting the stone and the stone chipping etc. It''s gotten me worried that I now have to go out to get insurance.

So a few questions...

Is it worth getting insurance for your engagement ring? If so, does anyone in Canada know of which insurance company and policy would be the most suitable (and most cost effective)? From what I can see, there is no insurance available just for insuring jewellery. All policies are attached to homeowners insurance (which I don''t have) and extra coverage for jewellery requires more $.

Meanwhile, my stone is at the jewellers until I get insurance. I''m sure missing my sparkly!

 

[Lal]

Anyone?

 

[denverappraiser]

Insurance rules vary substantially from country to country and from province to province. It's important to hear from someone in Canada.

In the US, the big players, beyond the homeowners companies are Chubb, Firemans Fund, and Jewelers Mutual.

Try asking the jeweler that is making the piece. They may be familiar with what companies are doing business in your area.

Neil Beaty, GG ISA
Independent Appraisals in the USA