Insurance Appraisal Updates!

[surfgirl]

It's time for my annual insurance payment and I noticed that my value/coverage had gone up by $1000. and when I asked my Chubb agent he said that Chubb factors in an annual 4% increase or something like that, so you dont have to get re-appraised each year. That said, I contacted my independent appraiser and he looked at my paperwork and felt that to replace my ring in today's market, given the recent hike in both platinum and larger diamonds, my ring's replacement price was now about $5k more than when we bought it last year. Just a reminder for you all to take a look at your insurance coverage based on recent price hikes! You dont want to be caught short if anything unforeseen happens...

 

[Sparkalicious]

That''s a great reminder, Surfgirl! Thanks for taking the time to share.

 

[Modified Brilliant]

This is also a great time to remind older family members who may have appraisals
from 10+ years ago that are very low, to consider updating to reflect the current diamond/metals market.

Many older appraisals usually lack important detailed descriptions.

Review and update as needed.

Jeff Averbook,GG
Graduate Gemologist since 1986

www.metrojewelryappraisers.com

 

[niceice]

This is a great reminder! So many people forget to have their appraisals updated, we recommend having it done every two years. Case in point, a claim for an insurance loss was sent to me this morning, the appraisal is from 1995! A lot has changed in the diamond and precious metal markets since then.

 

[evolve]

Hi Surfgirl, can you list your Chubb agent on PS? I am in the process in getting as much information to jump the train in purchasing an ering, insurance, and etc...

Thank you

 

[krisvrn]

surfgirl thx for sharing that info!!!

 

[surfgirl]

Date: 3/20/2008 5:46:07 PM
Author: evolve
Hi Surfgirl, can you list your Chubb agent on PS? I am in the process in getting as much information to jump the train in purchasing an ering, insurance, and etc...


Thank you

Do a search for Ralph Cohen at Touchstone Insurance...He''s the go-to guy for Chubb or Jewler''s Mutual.

 

[MoonWater]

Thanks for posting surfgirl! Good info to have.

 

[evolve]

Date: 3/20/2008 6:31:23 PM
Author: surfgirl

Date: 3/20/2008 5:46:07 PM

Author: evolve

Hi Surfgirl, can you list your Chubb agent on PS? I am in the process in getting as much information to jump the train in purchasing an ering, insurance, and etc...



Thank you

Do a search for Ralph Cohen at Touchstone Insurance...He''s the go-to guy for Chubb or Jewler''s Mutual.

Thank you Surfgirl!