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Insurance necessary while stone being set?

ovaldiamonds

Rough_Rock
Joined
Jan 21, 2020
Messages
16
I purchased a diamond and am ready to send it to David Klass to be set. Do I need to also get a Jewelers Mutual policy to cover the stone while it's being set? David provided me with an insured UPS label and said that the diamond will be insured by his policy when it arrives. Is is still necessary to get another policy on my own? Especially because JM said it would take 5-7 days before they are able to issue the policy. Thanks!
 
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MamaBee

Ideal_Rock
Joined
Mar 31, 2018
Messages
7,203
I purchased a diamond and am ready to send it to David Klass to be set. Do I need to also get a Jewelers Mutual policy to cover the stone while it's being set? David provided me with an insured UPS label and said that the diamond will be insured by his policy when it arrives. Is is still necessary to get another policy on my own? Especially because JM said it would take 5-7 days before they are able to issue the policy. Thanks!
It is fully insured by David while it’s being set. Only two of my rings are insured but not until I got it back from being set by David.
 

Mamajemmy

Shiny_Rock
Joined
Feb 6, 2020
Messages
216
I'll double check but fairly certain that it will be insured shipped back
Then I think you are fine. JM took forever to get back to me a couple months ago and ended up going with a different vendor that was half the price. That being said, I did have a claim with JM and they took care of it in a timely fashion.
 

diptyque_baies

Rough_Rock
Joined
Apr 1, 2018
Messages
11
I am curious, and I hope you don't mind me asking: is David still setting stones at this time? I have a project I would like to start with David but was assuming that no settings were being made at this time (since I thought the benches were closed). Is that a faulty assumption?

EDIT: Also, to answer the topic of the thread, I was advised (admittedly by JM) to insure my stone prior to handing it over to be set, the logic being that it would be covered during shipment, during setting and also once shipped back in the event that anything horrible were to happen. I thought it made sense and gave me peace of mind.
 
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ovaldiamonds

Rough_Rock
Joined
Jan 21, 2020
Messages
16
I am curious, and I hope you don't mind me asking: is David still setting stones at this time? I have a project I would like to start with David but was assuming that no settings were being made at this time (since I thought the benches were closed). Is that a faulty assumption?

EDIT: Also, to answer the topic of the thread, I was advised (admittedly by JM) to insure my stone prior to handing it over to be set, the logic being that it would be covered during shipment, during setting and also once shipped back in the event that anything horrible were to happen. I thought it made sense and gave me peace of mind.
From what I can tell yes - he's been very responsive throughout the process. I would reach out to him
 
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