How to insure your Whiteflash diamond @mrs-b?

[MamaBee]

I’m getting my 3.01 Whiteflash ACA diamond tomorrow. The appraisal came in much higher than what I spent. Did you insure it for the price you paid? Did you specify you wanted to insure the brand so you would get another Whiteflash super ideal if you lost it? Did you go with the appraisal? I pick it up tomorrow so I need to know soon. @mrs-b You have the same carat size...What did you do?

 

[MissGotRocks]

Not mrs-b but I insured mine with the receipt for what I paid - not the appraised amount. I specified that it was a Whiteflash branded A Cut Above, spelled out the color/clarity, and gave the insurance company a copy of the AGS cert as well. Be as detailed as you can with the description so that they will replace with what you had. Insurance amounts can be increased or decreased over the years with a new appraisal - especially if prices skyrocket!

 

[diamondseeker2006]

Not Mrs B either, but I never, ever insure for a penny more than I paid. Diamond prices have been fairly steady in many categories for quite awhile, so I have had no reason to increase the coverage (ering and studs only). Not to mention, I am not concerned if every last penny was covered anyway. I always use the sales receipt and the AGS report for insurance (both have the brand on them). If my insurance required a separate appraisal (which they do not), I'd provide the appraiser with the sales receipt and AGS report and tell them I do not want the value to be higher than what I paid since that is the TRUE replacement value!

 

[heididdl]

I may be doing it in correctly but i give the appraisal and the GIA /certificate report. I am not sure but when I needed replacement value I did go it from the appraisal that I had given them.

 

[missy]

I did the same as @MissGotRocks and @diamondseeker2006. I insured my ring for the exact amount I paid. And I sent them the GIA, sales receipt and appraisal. All the details I could.

I did the same for my studs. I do not want to pay more for insurance than I need to and can always make up a small difference should it be necessary.

My insurance pays cash for loss.

 

[MamaBee]

@MissGotRocks

I did the same as @MissGotRocks and @diamondseeker2006. I insured my ring for the exact amount I paid. And I sent them the GIA, sales receipt and appraisal. All the details I could.

I did the same for my studs. I do not want to pay more for insurance than I need to and can always make up a small difference should it be necessary.

My insurance pays cash for loss.

My problem is USAA replaces the diamond..You don’t get the cash..so I could get a pick of crummy diamonds. I only insured my studs for what I paid though.
I asked Vera for a clean receipt for the price of the diamond but I didn’t get a receipt. I can only use what I can find in my account with the trade in. I think it would be pretty confusing for the insurance company.

 

[Mlh]

I did the same as @MissGotRocks and @diamondseeker2006. I insured my ring for the exact amount I paid. And I sent them the GIA, sales receipt and appraisal. All the details I could.

I did the same for my studs. I do not want to pay more for insurance than I need to and can always make up a small difference should it be necessary.

My insurance pays cash for loss.

Hi @missy. May I ask...which insurance company do you use?

 

[Gussie]

Even on a trade in, I only showed the receipt (not an appraisal) as it had the price of the new stone listed. Jewelers Mutual replaces like for like (4 Cs plus ACA brand) so it is sufficient since the cert shows it's an ACA.

 

[missy]

Hi @missy. May I ask...which insurance company do you use?

We use PURE. They insure everything for us. Real estate, auto, jewelry and an umbrella policy.

 

[MissGotRocks]

@MissGotRocks


My problem is USAA replaces the diamond..You don’t get the cash..so I could get a pick of crummy diamonds. I only insured my studs for what I paid though.
I asked Vera for a clean receipt for the price of the diamond but I didn’t get a receipt. I can only use what I can find in my account with the trade in. I think it would be pretty confusing for the insurance company.

You can call and ask them but if you have the receipt and cert and it shows a branded ACA diamond, they should replace it with like kind - not just any old F, VS1 stone. My ering and earrings were traded in but the receipt showed the price of the newly purchased diamond(s) and that was the value I asked them to be insured for.

 

[MamaBee]

Even on a trade in, I only showed the receipt (not an appraisal) as it had the price of the new stone listed. Jewelers Mutual replaces like for like (4 Cs plus ACA brand) so it is sufficient since the cert shows it's an ACA.

Thank you..I will have to see if they will replace with an ACA...I don’t think so but I’ll check. My husband doesn’t want me to change insurance companies for this diamond. He just said not to lose it..

 

[MamaBee]

@MissGotRocks @diamondseeker2006 Thank you..I’ll try to do that..

 

[Mlh]

We use PURE. They insure everything for us. Real estate, auto, jewelry and an umbrella policy.

Thanks @missy !

 

[diamondseeker2006]

I've upgraded my studs a few times! I circle the amount of the new stones on the receipt. I haven't had a problem with the insurance accepting it. I think they are happy for higher priced items meaning they get more money!

In your case, they can show you replacement diamonds that are not ACA, but you don't have to accept them. If you saved the link to your diamond, you can take a screen shot of all the light return images. They'd have a tough time matching the cut quality of an ACA without using WF to get the replacement.

 

[MamaBee]

I've upgraded my studs a few times! I circle the amount of the new stones on the receipt. I haven't had a problem with the insurance accepting it. I think they are happy for higher priced items meaning they get more money!

In your case, they can show you replacement diamonds that are not ACA, but you don't have to accept them. If you saved the link to your diamond, you can take a screen shot of all the light return images. They'd have a tough time matching the cut quality of an ACA without using WF to get the replacement.

Thank you @diamondseeker. The trouble is I didn’t get a receipt. I have to go into the Whiteflash website to see my order. It doesn’t say that I’ve paid. It just describes the price with the trade in. I don’t know if USAA will take that. Vera won’t be in this weekend. I’m going to do a chat today and hope someone is there to send me a receipt. I don’t have a fax here so I’m hoping to do screenshots of the items and email it to my insurance company. I think all I need is a paid receipt at this point.

 

[MissGotRocks]

Thank you @diamondseeker. The trouble is I didn’t get a receipt. I have to go into the Whiteflash website to see my order. It doesn’t say that I’ve paid. It just describes the price with the trade in. I don’t know if USAA will take that. Vera won’t be in this weekend. I’m going to do a chat today and hope someone is there to send me a receipt. I don’t have a fax here so I’m hoping to do screenshots of the items and email it to my insurance company. I think all I need is a paid receipt at this point.

You will get a paper receipt when your ring arrives today along with the AGS cert. My insurance company has a thirty day grace period when purchasing new jewelry so you have that long to get the documentation to them. Course, I do it as soon as the next business day if possible.

 

[MamaBee]

You will get a paper receipt when your ring arrives today along with the AGS cert. My insurance company has a thirty day grace period when purchasing new jewelry so you have that long to get the documentation to them. Course, I do it as soon as the next business day if possible.

Thank you @MissGotRocks! I forgot what happened when I got Summer! I’m so relieved! I’ll call my insurance company after I bring it home..

 

[rocks]

@MissGotRocks


My problem is USAA replaces the diamond..You don’t get the cash..so I could get a pick of crummy diamonds. I only insured my studs for what I paid though.
I asked Vera for a clean receipt for the price of the diamond but I didn’t get a receipt. I can only use what I can find in my account with the trade in. I think it would be pretty confusing for the insurance company.

My experience with USAA has been cash out. I lost a stud about 18months ago. I told them what my cost to replace it would be and they wrote a check. I had good documentation and they agreed to cash out when I told them I wasn’t interested in their sources. They were pretty easy about it.

 

[missy]

My experience with USAA has been cash out. I lost a stud about 18months ago. I told them what my cost to replace it would be and they wrote a check. I had good documentation and they agreed to cash out when I told them I wasn’t interested in their sources. They were pretty easy about it.

I wouldn’t assume this is the case for everyone. I’m guessing it has to do with the dollar amount. @MamaBee ’s ring is up there re cost. I wouldn’t assume they’d easily write a check. Unless she has that in writing. It’s one of the reasons I went with who we went with for insurance.

 

[Dmndsr4evr11]

Thank you @MissGotRocks! I forgot what happened when I got Summer! I’m so relieved! I’ll call my insurance company after I bring it home..

@MissGotRocks is correct. You will get a paper receipt with your ring. I just updated my info with my insurance on their website so it hopefully will be all set on Monday before I send my ring back to get the prong fixed.

Waiting anxiously to see your ring!

 

[rocks]

I wouldn’t assume this is the case for everyone. I’m guessing it has to do with the dollar amount. @MamaBee ’s ring is up there re cost. I wouldn’t assume they’d easily write a check. Unless she has that in writing. It’s one of the reasons I went with who we went with for insurance.

Agreed. Just relaying my experience. USAA is about honesty and fairness. They are not your typical insurer.

 

[missy]

Agreed. Just relaying my experience. USAA is about honesty and fairness. They are not your typical insurer.

Glad your experience is a positive one. Just wanted to make sure Joanne realizes unless she has it in writing (cash out) there’s no guarantee.

 

[lovedogs]

Even on a trade in, I only showed the receipt (not an appraisal) as it had the price of the new stone listed. Jewelers Mutual replaces like for like (4 Cs plus ACA brand) so it is sufficient since the cert shows it's an ACA.

I did the same with JM and my CBI diamond.

 

[LLJsmom]

@MissGotRocks is correct. You will get a paper receipt with your ring. I just updated my info with my insurance on their website so it hopefully will be all set on Monday before I send my ring back to get the prong fixed.

Waiting anxiously to see your ring!

Put together a spreadsheet with the purchase and upgrade, any back and forth and submit that with all the relevant invoices marked paid. That is the clearest way. In my experience they do not include tax in the insured amount.

 

[Dmndsr4evr11]

Put together a spreadsheet with the purchase and upgrade, any back and forth and submit that with all the relevant invoices marked paid. That is the clearest way. In my experience they do not include tax in the insured amount.

JM says it can include tax.

 

[LLJsmom]

JM says it can include tax.

Awesome.

 

[rocks]

Put together a spreadsheet with the purchase and upgrade, any back and forth and submit that with all the relevant invoices marked paid. That is the clearest way. In my experience they do not include tax in the insured amount.

USAA paid sales tax.

 

[mdmc]

I did the same as @MissGotRocks and @diamondseeker2006. I insured my ring for the exact amount I paid. And I sent them the GIA, sales receipt and appraisal. All the details I could.

I did the same for my studs. I do not want to pay more for insurance than I need to and can always make up a small difference should it be necessary.

My insurance pays cash for loss.

Missy. Can I ask what insurance you have?

 

[missy]

Missy. Can I ask what insurance you have?

Sure. I have PURE. They insure everything for us. Real estate, auto, jewelry, umbrella policy. Excellent rates too.

 

[mdmc]

Sure. I have PURE. They insure everything for us. Real estate, auto, jewelry, umbrella policy. Excellent rates too.

Thank you. I’ll have to check them out.