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Houston, we have a problem. Gouge in diamond. Mara????

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Mara: Whiteflash Princesses eh? If I''m hearing it from you, it must be true.

Got my claim rolling today, just waiting to find out the details (amount, etc..they want me to use their jeweler. Assured me all the stones are GIA certified, therefore, just fine. I explained I need to inspect the stone first) I can also use the jeweler of my choosing.

This is not fun. I want to cry. I also forgot to ask her if they will reimburse me the cost of getting my stone out of my setting & putting it back in! I truly hope I don''t get screwed on this. I did learn that you do NOT get reimbursed your appraised value/retail value/but like value. Which is fine, that makes perfect sense to me.

My question is, why do appraisals come in so much higher then? That''s just stupid in my opinion. What''s the point of even having an appraised value if your insurance company is not going to pay that out in case of a loss/etc. It should just include item, specs, etc.

good day to be out of wine. Well, I''m not out, but all I have is my really good stuff and I don''t feel like opening it.
 
The question is are you paying a premium on the appraised value? If you are, then it would seem to me that you would have the right to spend up to that appraised amount if need be. If their jewelers don''t have anything that you like, can you then go to one of your choosing?

If you don''t mind me asking, who is your insurance company? I think there are perhaps big lessions to be learned here with riders on homeowner''s policies vs. cash payout policies. No one really realizes the difference until someone has an unfortunate loss like your own.
 
Miss Got Rocks: Hold. The. Phone. You make a very good point. I *DO* pay a premium based on my appraisal.

Hmm, I will see what the offer is and if it''s far from my appraisal, its worth a discussion with the adjustor/agent.

I''ve been paying the premiums on it for over 9 years now....I even have the original appraisal from a different jeweler when it was just in the temporary setting.

Time will tell.

Thank you for your input, I hope you are right.
 
Sorry..forgot...

Country Financial. I have my homeowners, and life insurance through them. Have since 1999.
 
I received a call this morning from Replacement Services, the jeweler my Insurance Co. uses.

The jeweler said he has a stone for me & is FedEx-ing to me on Tuesday.

The amount my stone is appraised for is $7300. The amount the insurance company is willing to replace up to is $4500.

My policy (and their website) states Full Retail Replacement Value.

The adjuster told me Like/Kind replacement.

I was fine with that until MissGotRocks asked if I had been paying premiums on the higher dollar amount, and yes, I have, for over 8 years now.

I''m perplexed and a little ticked off. I called my agent & asked him & he said it was his understanding that I should be reimbursed for the amount I insured the stone for & pay premiums on. He said he''d talk with the claims adjuster to find out & see what he can do.

Then the jeweler at Replacement Services told me he has an F, SI2, 1.14 carat princess for me to consider. He gave me the GIA report # (2111124894) but told me he didn''t have the report on him.

My problem with using the insurance jeweler is that they are in IL, and I am OR. I''m sure they are just fine, they use the same vendor for stones that my local guy uses, but he was trying to get me to commit to the stone sight unseen. Told me that since it was GIA it was "guaranteed" to perform well. As if that were the only consideration. I politely disagreed with him & told him that I would just need to see a stone before I could say yes or no. This could get drawn out Fed Exing stones back and forth from IL to here. (at least I don''t pay for it)


My jeweler here emailed me today to let me know he had pulled a few stones for me to look at & I gave him the GIA report# and he pulled it for me.

Looks like a big inclusion right on the table.

Stats:

Measurements: 5.46 x 5.46 x 4.42
Carat: 1.14
Color: F
Clariy: SI2
Depth:81%
Table: 69%
Polish: Excellent
Symmetry: Very Good
Flourescence: None

That''s all the numbers I have....Whatcha think?

My local jeweler pulled a 1.02 carat, G, VS2 cushion for me that is really pretty. Under a scope a little like an ideal scope it looked great & in person it looked great, but it was $6400--I am not sure if that is a good price. Regardless, its too expensive if I''m only getting $4500 for a stone. I don''t want to go into debt over this.

I also called WhiteFlash & they don''t have any ACA or ES princesses in a size to fit my setting.

I''m definitely planning on reusing my setting. I just don''t care for any others. I really like mine (in my avatar)

Any advice?
 
I think that insurance companies are somewhat famous for wanting to settle a claim lickety split so they can close the whole thing out. I would really have to check into that $4500 limit. I would also tell them I would want an appraisal on the stone they are sending. The purpose of you having a detailed appraisal and a cert from a reputable lab is that it acts as a guideline to replacing a stone. Finding a princess cut stone the same weight as yours is just one little bitty detail of the process. The adjusters are not diamond experts by a long shot and as we all know, matching color, clarity and carat weight is just the beginning of finding ''like kind''. I would not be rushed and I would not be pushed into accepting a stone. You can check with some other vendors too and maybe present the insurance company with a stone that you would like.

I am not at all knowledgeable about princess cut stones. Maybe some of the experts here can chime in on parameters for a well cut stone. Even if these vendors don''t have a stone in stock that fits your needs, they can try to source one for you.

Tell us again the carat weight and size of your stone so that we can all look around for you.
 
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