Help me, dealing with insurance company replacing diamond

[TEH]

I recently lost the center stone out of my engagement ring. It was a 2.51 cushion. It is insured by State Farm, I am concerned about the replacement they are wanting me to take. They have a relationship with Reeds jewelers (closest one to me is over a hour away). They are telling me Reeds can replace my stone $7,000 less than the local, highly regarded jeweler store I want to use. I am concerned about using Reeds, I will just be sent a stone that meets the basic criteria of my original stone without the opportunity to look at different stones and compare. I am looking for advice how to handle this.

 

[whitewave]

I think you have to see what they suggest. Would you tell us about the diamond that was lost?

 

[TEH]

It was 2.51 cushion, E color, SI1
When purchased it was sold as a VSl but when I got it appraised for insurance he said it was close but in his opinion it was SI1 so that is what it was insured as.

State Farm has said Reeds has a stone to replace it with but I am concerned. I know how many different stones we looked at to pick this particular one and there were different degrees of inclusions and even though they were the same grading it seemed some were brighter, nicer than another.

 

[marymm]

Did your diamond have a diamond grading report, from GIA or AGL or ??? If so, the replacement diamond would have to closely match the report's specs...

 

[whitewave]

Right, did it have a grading report and do you know what type of cushion it was? Crushed ice, 8 main etc?

Look at a website about cushion diagrams and tell us which type of cushion you had.

It probably was an SI1 to be honest. That should have been taken up with the jeweler when you discovered it because you lost money on buying a supposed vs1 and then discovering it was really a SI1

 

[WinkHPD]

I do not know the laws in your state. In Idaho, you are allowed, by law, to demand replacement/repair with YOUR choice of vendor, up to the limit of the policy. I know this as I am an Idaho resident and I had to argue with more than one insurance company who did not want to use me back in the days when I was doing a lot of insurance replacements.

You may benefit from talking with a qualified local appraiser, if you have one. He/she will know the local state laws. If there is not a qualified local appraiser, perhaps you would benefit with a visit to an attorney versed in the proper area of law. I am not a lawyer either, so I do not know for sure what kind of an attorney you should speak with.

Then when you have your facts in a row you can have a more informed conversation with your insurance company, speaking with the power of knowledge instead of from a weaker position.

I wish you good luck in finding out what you need to know, and then the strength to have that powerful conversation with your insurance adjuster.

Wnk

 

[headlight]

Contact your insurance agent who should be an advocate for you (if they’d like to keep you as their client).

 

[lovedogs]

If you have a gia/AGS report they have to match it pretty closely.