HELP!! I broke my diamond!!!!!!!

[coconut]

Wow...
Laney I''m so happy things finally worked out for the best!

And I really thank you for sharing your agony as well as the enthusasm I can feel in your decisions on the new stone!

Now I know for real to insure my ring ^^

 

[Lynn B]

Laney,

Repeat after me: Two Carats. Two. Carats. Two... Carats...

Attagirl.

Lynn

 

[mrssalvo]

Laney,
I received my check from Allstate in the day after I told them I wanted to cash out. they exceeded my expectations in the customer service dept. I thought about switching to Chubb but I think as long as you have the proper detailed info and accurate appraisal numbers you''ll come out just fine, which is what both you and i did. Happy hunting and I vote for the 2 carat too

 

[laney]

mrssalvo - I really did have a good experience w/allstate. In all honesty, I didn''t expect it. I don''t know why I didn''t - but - it worked out exactly as it should have.

And look at us ladies.. all for the 2cts! LMAO - no one asked for the "specs"!!!!

 

[Maxine]

Date: 7/18/2005 10:21:31 PM
Author: laney
mrssalvo - I really did have a good experience w/allstate. In all honesty, I didn''t expect it. I don''t know why I didn''t - but - it worked out exactly as it should have.

And look at us ladies.. all for the 2cts! LMAO - no one asked for the ''specs''!!!!

....and the specs are??????????????????????

We all know YOU know how to pick ''em!

Seriously, I was shocked when I came back from vacation and saw this thread! You musct have had some BAD moments during the past few days!!!!! Very stressful, to say the least....glad it is working out....you give us all hope....still searching for the perfect policy (meanwhile I have one...just don''t know how well it would cover getting the replacement....)

 

[Jennifer5973]

Laney, I have been keeping up with your thread and I am so happy you have what you need form your insurance company to replace your stone. I also want to thank you--becasue of you, I got a new, up-to-date appraisal and double-checked with my insurance company how such a loss would be handled so I can be sure I would get the size and quality I have now.

2 cts or bust!

 

[ame]

I am SO glad you got this figured out in your favor! Happy upgrading!

THIS is why I carry my rings more than I wear them!

 

[Kamuelamom]

This has been such an educational thread. Thanks, Laney, for keeping us in the "loupe"

 

[Mara]

Me too...I called our State Farm guy today to get a quote to re-add insurance for my rings!

and Miss Ame, sorry to burst your bubble.. but carrying them isn't any more safe! hole in the purse pocket? stolen purse? lots of ways that carrying them could be just as detrimental as wearing them. SO WEAR THEM ALREADY!

 

[glaucomflecken]

yay for you laney! I say that with the trauma you just went through you deserve 2 carats!

 

[flower12]

Laney!! first I am so sorry that your e-ring is broked.

but I am so glad to hear that your insurance company took care of it!!!!!

I just got insurance from Chubb, I wonder if chubb is take care if if same thing happen to my ring??
I hope so

 

[League]

I have Chubb... Can anyone put my mind at ease by describing what would have happened in this situation (or a different, total-loss type of problem) if it were Chubb insuring the ring?

We bought the ring for 6800 about 6 years ago, but have upped the insurance to 8500 because, judging by Pricescope''s diamond search, that''s what it would take to replace it with like size, color, clarity, cut. I don''t feel I''m over-insuring it, so i guess my main concern is whether I would actually get the full value from Chubb or if they''d give me a percentage like AllState did with Laney? I think it''s just cash-out for full value, right? Also, it doesn''t have any documention except for the GIA cert and a (very) inflated appraisal for 12k. No SARIN or anything. I''ve always assumed with Chubb, that would be enough since I''d get the cash to choose my next stone if the unthinkable happened. Just looking to have my assumptions confirmed and my mind set at ease.... thanks!

 

[ame]

Date: 7/25/2005 10:54:50 PM
Author: Mara
Me too...I called our State Farm guy today to get a quote to re-add insurance for my rings!


and Miss Ame, sorry to burst your bubble.. but carrying them isn''t any more safe! hole in the purse pocket? stolen purse? lots of ways that carrying them could be just as detrimental as wearing them. SO WEAR THEM ALREADY!

HAHA!

 

[mrssalvo]

Date: 7/27/2005 5:56:18 AM
Author: League
I have Chubb... Can anyone put my mind at ease by describing what would have happened in this situation (or a different, total-loss type of problem) if it were Chubb insuring the ring?


We bought the ring for 6800 about 6 years ago, but have upped the insurance to 8500 because, judging by Pricescope''s diamond search, that''s what it would take to replace it with like size, color, clarity, cut. I don''t feel I''m over-insuring it, so i guess my main concern is whether I would actually get the full value from Chubb or if they''d give me a percentage like AllState did with Laney? I think it''s just cash-out for full value, right? Also, it doesn''t have any documention except for the GIA cert and a (very) inflated appraisal for 12k. No SARIN or anything. I''ve always assumed with Chubb, that would be enough since I''d get the cash to choose my next stone if the unthinkable happened. Just looking to have my assumptions confirmed and my mind set at ease.... thanks!

Hi League, I don''t have Chubb but it''s my understanding we you report a loss or damage, they write you a check for the amount you have insured. This is why so many people recommend them. If you do a search here on PS on Chubb a bunch of old threads will pop up and i''m sure someone in there is an answer to you question. I do recall someone recently posting how happy she was with how Chubb handled her claim, i don''t think you have anything to worry about

 

[jewelgirl]

Yep, League, I am that girl who is thrilled with Chubb insurance. I wrote a thread abt it prob abt a month or so ago. I don''t know how to link to to threads ( I am not technicallt savvy) but ut should come up easily in search.

My rings were stolen, and they wrote me a check 2 days afte. I used the money to replace the stone with the one I wanted, not one that they could find for me...

I got a new ring, and insured again with chubb...I will never use anyone else for jewelery insurance!

 

[diamondlil]

Yes, I have Chubb too. Although I''ve never made a claim, I feel secure knowing that if anything happened, I''d get a check for the amount I have been paying my premium on . . . no questions asked.

 

[claimsjeff]

Mara/Miss Ame: I found it interesting and agree with you recommendation that wearing your jewelry(unless you elect to have it in a safe/safety deposit box) is the safest care of your jewelry. Seeing hundreds of claims a month, I thought it would be a good idea to run through some of the most common situations that we see as a loss (not including breakage):

1. Left it in a public area and when returned it was missing....Ie...glove box, console of car, shirt pocket, wrapped in tissue in purse, accidentally left it on the sink in a public restroom, etc......
2. Damage by equipment: knocked it into garbage disposal when cleaning dishes,
3. Theft from home: Left it in bedroom on nightstand, or jewelry box. (Hint: safest area to leave jewelry in the house if you do not have a safe- Laundry Room!) Thieves usually will strike the bedrooms/bathrooms first followed by offices.
4. Unexplained loss: Later when they are found, it is often that their own kids picked it up and played with it....later to be found at the bottom of the toy box.....

Thanks----
Jeff Mills
VP Claims
Jewelers Mutual Insurance Co.

 

[ame]

So what you are saying is that I shouldn''t wear or carry it, just leave it hidden by my washer and dryer and laundry soap.

 

[aljdewey]

Again, not knocking Chubb at all, but I just want to point out that other carriers can provide the exact same thing re: cash out.

My policy is an agreed-value policy.....I have rings insured for $xxx, and in event of loss, they cut me a check for the same $xxx. That''s what agreed-amount or agreed-value means......we both agree up front as to the value of the piece, and the policy pays out that exact amount in the event of loss. It''s *not* a replacement policy, and therefore isn''t subject to reduction of $$ for wholesale, etc.

 

[Kamuelamom]

Alj, may I ask who your ring is insured with? You can PM me if you don't want to share that publically.

Is it more beneficial to have a separate policy for your ring (ie, Chubb, JM, etc)?

Or just get it through your homeowners like laney?

I got a not-to-satisfactory answer when I first inquired through my homeowners insurer, State Farm, so I am contemplating two options:

1) Change carriers
2) Get it insured separately

Hmmmmmm, what to do? It seems as though there are varying degrees of experiences depending on each carrier and other variables.....

 

[ame]

Our insurance agent told us to never put it on a homeowners policy and take out a separate insurance policy through a company that specializes in this, i.e. JM or Chubb. They don''t deal with either but he said that his wife''s ring was stolen and their company would give them no more than $1,000.

 

[Mara]

With my luck I'd hide it in the laundry room and then knock it into the washer or something and it would go through the rinse cycle with me plastered up against the window.

I've often thought a jewelry box by the bed is a silly place to leave jewelry (aka hello robbers please take my jewelry box) !

Why does it feel like the most natural?

 

[cutes814]

Thanks Laney for keeping us so updated with the whole process. I''m so glad it all worked out for you! I can''t wait to see the new stone.

 

[nutty]

Mara - - I thought the same thing! That I would knock my ring into the washer or down the drain in the laundry room!

I think we naturally think of a jewelry box on our nightstand because we know our rings are within arms reach when we''re sleeping.

 

[Patty]

My 3-stone sapphire/diamond ring went through the washer AND dryer once before I found it.

It was fine. And very clean.

 

[ame]

That was a great story! I wouldn''t be able to inspect it well enough if that happened to mine!

 

[fire&ice]

Date: 7/27/2005 6:50:41 PM
Author: ame
Our insurance agent told us to never put it on a homeowners policy and take out a separate insurance policy through a company that specializes in this, i.e. JM or Chubb. They don''t deal with either but he said that his wife''s ring was stolen and their company would give them no more than $1,000.

All insurance companies have limits on what their "normal" policy will cover. Jewelry won''t be covered for over 1-1.5K UNLESS you have a rider & schedule the piece, regardless of carriers.

 

[laney]

F&I is right. Our "normal" coverage if we had not put a rider on our homeowners policy is clearly stated - something around 2k. Other things like computer equipment or other appliances also have a limit. If there is an exception it usually is spelled out like the jewelery was.

We did a rider specificallly for my e-ring. Thus - the coverage was adequate.

 

[mrssalvo]

Date: 7/28/2005 2:29:19 PM
Author: laney
F&I is right. Our ''normal'' coverage if we had not put a rider on our homeowners policy is clearly stated - something around 2k. Other things like computer equipment or other appliances also have a limit. If there is an exception it usually is spelled out like the jewelery was.


We did a rider specificallly for my e-ring. Thus - the coverage was adequate.

Same with us...we have a scheduled rider just for our rings.

 

[Carolynw]

Laney, are you going to keep your Tacori setting? Or get a different one to fit a larger center stone?