Heartbroken- PerfectCircle Outcome

[Niel]

@msop

you pay your premium for an insurance policy

what you get is what is stated in your policy

read your policy, preferably before you purchase it

+1

 

[MrsWhitney]

Hi Everyone,

THANK YOU all for your support even when I was UCLABelle I realize I have been on PS 10 years WOW. Anyway, they have involved their lawyer now, so I am not to make any statements... for my comments on here...

Sadly, though, it looks like it has a bad outcome for me...all around. I am in tears. Just sobbing. My Dad's frustrated, my husband sad and angry (same time, who knew), and I just realized I get to go through cancer without my beloved things.

Worst day of my life. Thus far.

 

[msop04]

@msop

you pay your premium for an insurance policy

what you get is what is stated in your policy

read your policy, preferably before you purchase it

+1

I understand that. I read the policy, and spoke with a representative. I specifically asked what would happen if my ring was lost or stolen... I asked if they would pay for another to be made by Christopher Designs, since it was custom. The representative say, "...of course... it can even be something different, as long as it's of like value..."

This was me asking for specifics as it related to my policy, and that was the answer I received. Would this be a different than the OP's (since mine is GIA certed)?

 

[MrsWhitney]

@msop4 last comment, I know CHUBB is really great, I never had a claim when I had them for a few years....first marriage ring...but a friend had a claim, and it was settled within I believe it was 6 weeks, but it was Leon Mege.

 

[mns12]

So very sorry to hear about this!! I just recently switched from my homeowners to Perfect Circle for my new Whiteflash pieces based on recommendations I have read on here. I'm def. going to go back and try to understand the limitations. What is the point of the appraisal then?? I unfortunately lost my ER and WB and had to file a claim with the homeowners last year. At first they wanted me to go to some random place in NJ (sounds like they mostly dealt with insurance replacements) but I refused and asked to speak with a supervisor.
After a little back and forth they agreed I could go to a jeweler of my choice, obtain a quote, and it would have to be approved by their jeweler first. Once that was done they issued me a check directly. Are they at least offering for you to replace your rings for the value listed on the appraisal? I know it's not Tiffany (and that is sentimental to you), but maybe you could go to a high-end custom PS vendor?

 

[proto]

@msop

you pay your premium for an insurance policy

what you get is what is stated in your policy

read your policy, preferably before you purchase it

+1

I understand that. I read the policy, and spoke with a representative. I specifically asked what would happen if my ring was lost or stolen... I asked if they would pay for another to be made by Christopher Designs, since it was custom. The representative say, "...of course... it can even be something different, as long as it's of like value..."

This was me asking for specifics as it related to my policy, and that was the answer I received. Would this be a different than the OP's (since mine is GIA certed)?

your policy and OP's policy are unrelated. your policy is your policy.

what your rep told you is almost irrelevant sadly. It should not be, but if it wasnt in writing or recorded, and is contrary to the wording of your policy, your policy issuer may (and is likely to) hold you to the wording on the policy unless you want to go to court and litigate a misrepresentation claim.

read and understand your policy

 

[susan498]

Yep. You try to litigate coverage, you will lose.

 

[MrsWhitney]

MNs12- I really purchased this insurance (and previously Chubb under my first husband) for "brand" protection. Sure, I can ask any local or PS jeweler to make a similar ring, but I still have the issue of the 15% margin over wholesale issue. Not even Leon would agree to that...

I also am still in shock they claim Tiffany certs are significantly inferior to GIA? I am just, in shock. Just total shock. And just broken inside. Totally broken. If finding out I had cancer, losing my jewelry and now learning it cannot really be replaced, is not hard enough, I am not sure what is...

And "I FEEL" I was spoken down to, of course, as they will note, this is MY FEELINGS, but all of you know, I know jewelry fairly well. And I am not poorly educated. I have all of you, plus UCLA, Columbia, Penn and the Univ of Cambridge that said I was decently intelligent

I still cannot stop crying though....

It is just so heartbreaking that I am shaking...

 

[MollyMalone]

I think there may have been some miscommunication on Mr. Elliot's part: the wholesale + limited mark-up should only be in play when the jeweler is paid directly by PC/JM. The specified margin is appreciably lower than the inflated mark-up that Tiffany and the like tack on to their wholesale costs, which is why they have historically refused to partner with PC/JM as direct pay recipients.
(And PC/JM may have decided to add the name brand proviso to cut down/eliminate the possibility of people buying second-hand name brand pieces at lower than retail price & then claiming a loss equivalent to what would be legit ihad they purchased the item directly from, say, Tiffany or Cartier).

In the case of a reimbursement check issued upon receipt of the insured's proof of repurchase of a name brand piece, the profit margin should be of no consequence -- and I bet such a limitation is not part of your policy-pertinent rider because you would have noticed that when you pulled out your paperwork several weeks ago & realized that under the terms of the contract, you're expected to repurchase, e.g., the Tiffany ring & then submit the sales receipt to JM/PC.

I realize the offer of a non-Tiffany diamond & mounting is not a satisfactory equivalent, but I imagine the offer was made so as to make it possible for you to have jewelry pieces, at no out-of-pocket cost to you -- instead of sticking fast to the contractual terms requiring you to first replace the name brand piece(s) yourself.

Try to hold on to the fact you and your husband will not have to be separated in the upcoming months, as it seemed a couple of weeks ago might happen. A loving helpmate in times of medical crisis-treatment is so priceless.

 

[msop04]

@msop

you pay your premium for an insurance policy

what you get is what is stated in your policy

read your policy, preferably before you purchase it

+1

I understand that. I read the policy, and spoke with a representative. I specifically asked what would happen if my ring was lost or stolen... I asked if they would pay for another to be made by Christopher Designs, since it was custom. The representative say, "...of course... it can even be something different, as long as it's of like value..."

This was me asking for specifics as it related to my policy, and that was the answer I received. Would this be a different than the OP's (since mine is GIA certed)?

your policy and OP's policy are unrelated. your policy is your policy.

what your rep told you is almost irrelevant sadly. It should not be, but if it wasnt in writing or recorded, and is contrary to the wording of your policy, your policy issuer may (and is likely to) hold you to the wording on the policy unless you want to go to court and litigate a misrepresentation claim.

read and understand your policy

That was the purpose of me asking the question... to the JM rep. Guess it's necessary to hire an attorney to give me the truth, rather than someone who does jewelry claims for a living and represents the company.

Is there some stipulation to Chubb?? I thought you had to have other things through them or an extreme amount insured...

(OP, so sorry to threadjack, but I appreciate you reporting your experience -- it will certainly open the eyes of many...)

 

[MrsWhitney]

No worries, not hijacking, it is good to learn about policies and importance of who you work with. The lady that sold me mine, only sells them.

Chubb had no monetary restrictions but that 8 years ago. My insurance then was about $35,000 or something----for a Tiffany ring (what can I say, it was my favourite, prior to their refusal to work with JM, but now I might know why). Chubb paid the exact amount insured and again, if no agreement was met, they did cut a check; then again, this was about 8 years ago- and I never filed a claim...

 

[msop04]

No worries, not hijacking, it is good to learn about policies and importance of who you work with. The lady that sold me mine, only sells them.

Chubb had no monetary restrictions but that 8 years ago. My insurance then was about $35,000 or something----for a Tiffany ring (what can I say, it was my favourite, prior to their refusal to work with JM, but now I might know why). Chubb paid the exact amount insured and again, if no agreement was met, they did cut a check; then again, this was about 8 years ago- and I never filed a claim...

Good to know... thanks, MrsWhitney.

 

[MrsWhitney]

Of course, and your ring is beautiful FYI.

 

[MrsWhitney]

@MollyMalone- I am actually physically separated from my husband; my parents are taking shifts staying with me in NYC while I get treatment; my husband is a surgeon at UT Knoxville now and had to start or risk the job----

I do have my parents though, which is great. And friends...and even Columbia University (my alma mater and work place) sends the most awesome fruit-baskets on the planet (the Dean of CUMC and CDM are sweet). Sadly, I have no appetite.

When well-enough, and able to find surgeons suitable, I will move to Knoxville, TN from NYC to be with him.

 

[Niel]

@msop

you pay your premium for an insurance policy

what you get is what is stated in your policy

read your policy, preferably before you purchase it

+1

I understand that. I read the policy, and spoke with a representative. I specifically asked what would happen if my ring was lost or stolen... I asked if they would pay for another to be made by Christopher Designs, since it was custom. The representative say, "...of course... it can even be something different, as long as it's of like value..."

This was me asking for specifics as it related to my policy, and that was the answer I received. Would this be a different than the OP's (since mine is GIA certed)?

your policy and OP's policy are unrelated. your policy is your policy.

what your rep told you is almost irrelevant sadly. It should not be, but if it wasnt in writing or recorded, and is contrary to the wording of your policy, your policy issuer may (and is likely to) hold you to the wording on the policy unless you want to go to court and litigate a misrepresentation claim.

read and understand your policy

thats not necessarily correct, i do not work for that company, but the company i work for works like this; we record every call, if on a recorded line we guarenteed coverage, we have to provide that, even if that rep was wrong.

 

[MollyMalone]

Oh dear, 2 weeks ago it sounded as if you were going together to Knoxville where a lovely home was waiting for you. I am so sorry for the separation & hope that you two will soon be reunited (and can get the surgery out of the way), but happy to hear that you are receiving TLC here in NYC!

 

[msop04]

@MollyMalone- I am actually physically separated from my husband; my parents are taking shifts staying with me in NYC while I get treatment; my husband is a surgeon at UT Knoxville now and had to start or risk the job----

I do have my parents though, which is great. And friends...and even Columbia University (my alma mater and work place) sends the most awesome fruit-baskets on the planet (the Dean of CUMC and CDM are sweet). Sadly, I have no appetite.

When well-enough, and able to find surgeons suitable, I will move to Knoxville, TN from NYC to be with him.

Good luck with your move. My BIL works for the nuclear pharmacy unit at UT Medical Center in Knoxville... you will love it there! Beautiful area with really nice people.

 

[proto]

@msop

you pay your premium for an insurance policy

what you get is what is stated in your policy

read your policy, preferably before you purchase it

+1

I understand that. I read the policy, and spoke with a representative. I specifically asked what would happen if my ring was lost or stolen... I asked if they would pay for another to be made by Christopher Designs, since it was custom. The representative say, "...of course... it can even be something different, as long as it's of like value..."

This was me asking for specifics as it related to my policy, and that was the answer I received. Would this be a different than the OP's (since mine is GIA certed)?

your policy and OP's policy are unrelated. your policy is your policy.

what your rep told you is almost irrelevant sadly. It should not be, but if it wasnt in writing or recorded, and is contrary to the wording of your policy, your policy issuer may (and is likely to) hold you to the wording on the policy unless you want to go to court and litigate a misrepresentation claim.

read and understand your policy

thats not necessarily correct, i do not work for that company, but the company i work for works like this; we record every call, if on a recorded line we guarenteed coverage, we have to provide that, even if that rep was wrong.

look the bold part.

will post longer tmr when missus not sleeping

 

[Niel]

@msop

you pay your premium for an insurance policy

what you get is what is stated in your policy

read your policy, preferably before you purchase it

+1

I understand that. I read the policy, and spoke with a representative. I specifically asked what would happen if my ring was lost or stolen... I asked if they would pay for another to be made by Christopher Designs, since it was custom. The representative say, "...of course... it can even be something different, as long as it's of like value..."

This was me asking for specifics as it related to my policy, and that was the answer I received. Would this be a different than the OP's (since mine is GIA certed)?

your policy and OP's policy are unrelated. your policy is your policy.

what your rep told you is almost irrelevant sadly. It should not be, but if it wasnt in writing or recorded, and is contrary to the wording of your policy, your policy issuer may (and is likely to) hold you to the wording on the policy unless you want to go to court and litigate a misrepresentation claim.

read and understand your policy

thats not necessarily correct, i do not work for that company, but the company i work for works like this; we record every call, if on a recorded line we guarenteed coverage, we have to provide that, even if that rep was wrong.

look the bold part.

will post longer tmr when missus not sleeping

yes i read what you said, but what i am saying is most insurance companies record your call and should be noting calls on your policy. so starting off your post by saying that call is irrelevant is misleading

 

[MrsWhitney]

Hi Molly! We are. He is settling, but I required too many appointments and surgery and follow-up in NYC to go right to Knoxville, TN. So we have a while here...but I miss the heck out of him...

My father and husband are taking over the claim because I physically cannot handle it anymore. I am weak, on medication now, cannot eat, and arguing over a few thousand and their wholesale plus 15% was causing just way too much emotional and physical distress...

 

[MollyMalone]

And I'm sure he misses you too

 

[RockyRacoon]

From one Bruin to another, my thoughts are with you in this tough time. Maybe an 8-Clap would be a good mood booster?!

 

[emmebee]

I am so sorry you are going through all this right now.

What's crazy is that you asked this exact question back in 2013 (to seem to try and prevent this?):
[URL='https://www.pricescope.com/community/threads/jewelry-insurance-and-valuation-for-a-tiffany-ring.192430/']https://www.pricescope.com/community/threads/jewelry-insurance-and-valuation-for-a-tiffany-ring.192430/[/URL]

Which leads to my second issue, insurance. I want a policy that will include the option to purchase an identical ring should anything happen. It is a 1.61 round brilliant, in platinum, with bead set border and small square emerald cuts down the side...but most of all, it is Tiffany, and I would want the ring replacement from there.

Does anyone have any recommendations for insurance? Has anyone purchased a ring on the secondary market at Tiffany, insured it for an identical store piece????

It looks like maybe you talked to Neil after that about an appraisal - what happened from there?

Are you able to borrow money to buy the ring you want at Tiffany's, and then be reimbursed?

 

[MrsWhitney]

RockyRacoon----

And....one, two, three, four, five, six, seven, eight... U, C, L, A... FIGHT! FIGHT! FIGHT


You are right, I do feel a little better. GO BRUINS!

 

[MrsWhitney]

emmebee- I ended up selling the ring; we ended up buying an original ring, to avoid this OUT OF POCKET.

So with my cancer bills (co-pays at least), I cannot fathom borrowing $65,000+ otherwise, I would. I mean, this is an extraordinary circumstance 1) I lost all jewelry I wore that day (INCLUDING JEWELRY NOT INSURED) 2) got cancer----

 

[emmebee]

I understand, such terrible and unfathomable circumstances. I am so sorry, I don't know what I would do and how I would be able to handle all that.

But I'm confused. You purchased a 1.61ct ring in Aug 2013 second-hand and asked here about insuring it. Then you sold that ring? And bought it again for full retail price just in case you lost it?

 

[MrsWhitney]

emmebee- I did; I got a larger, 1.80 E, VS1 with beautiful baguettes, my perfect style, in our name as the purchasers at Tiffany. This way, I was able to get yearly insurance updates FROM TIFFANY in our names....had I known this would have happened????

They were also much different looking....

and the second-hand bothered me....

 

[emmebee]

Ohhhhh okay, thanks so much for clearing it up! I agree, you'd think that would remove some of the issues you're now having I'm so sorry again, sending wishes that everything will work out.

 

[MrsWhitney]

emmebee- yes, this does not look like it will work out; based on this, since I have cancer and cannot shell out $65,000 cash of my own (and am too proud to ask to borrow), the wholesale cost of my ring is low, plus the 16% so my $49,900 insurance claim (just for the ring) is more like...$20,000 (again, because of legal reasons, this is just what I am inferring from conversations)...and that does not include my roughly $10,000 earrings, my $4500 cross, my $1,100 bracelet (and then everything else not insured).....but again, all Tiffany---I paid for the brand for a reason.

I just, cannot believe this is my life...

It is just jewelry but I guess I would have thought people are people; and people do the right thing- I know insurance is different...I guess.

The man Don was really nice at first, we even talked about St. Anthony and the loss...because I looked everywhere for my jewelry...a whole month. He was really kind...

I just do not know what to do. Except cry.

 

[Niel]

emmebee- yes, this does not look like it will work out; based on this, since I have cancer and cannot shell out $65,000 cash of my own (and am too proud to ask to borrow), the wholesale cost of my ring is low, plus the 16% so my $49,900 insurance claim (just for the ring) is more like...$20,000 (again, because of legal reasons, this is just what I am inferring from conversations)...and that does not include my roughly $10,000 earrings, my $4500 cross, my $1,100 bracelet (and then everything else not insured).....but again, all Tiffany---I paid for the brand for a reason.

I just, cannot believe this is my life...

It is just jewelry but I guess I would have thought people are people; and people do the right thing- I know insurance is different...I guess.

The man Don was really nice at first, we even talked about St. Anthony and the loss...because I looked everywhere for my jewelry...a whole month. He was really kind...

I just do not know what to do. Except cry.

Im sorry this is causing you such drama, but the right thing here is to provide you the insurance you have been paying for. No more, no less.