geek_for_diamond
Rough_Rock
- Joined
- Jan 3, 2007
- Messages
- 5
Hello,
I just got my georgeous e-ring from GOG, the next step will be insurance.
My ring costs $7000 and the apprasial from GOG is $10900, 50% more than what I paid. If I go to an independent appraiser just for insurance purpose, the apprased value could be be even higher. I''m not sure if it''s possible to ask the appraiser to just value my ring like 20% higher than purchase price, which should be good enough to cover the inflation for the next couple years. Since I live in NJ, in case of loss, I can easily go to GOG to get a replacement without paying high mall jeweler price.
I searched the forum, basically there are two choices - Chubb and JM. From what I learned Chubb has cash out policy, can insure with purchase amount, but per dollar premimum is higher, and it''s not easy to find a broker to issue standalone chubb policy. Therefore I may go with JM.
If the appraised value can be lower to $9000, according to JM the premium savings would be about $30 per year. I''m not sure if it worth the trouble? Is it even possible to ask GOG to reissue an apprasial with lower value?
I may also want to add $500 deductible to save additional 14% premium, I have $1000 deductible on my auto insurance, but I saw somewhere mentioned most people want 0 deductible?
Anyway thanks for your inputs!
I just got my georgeous e-ring from GOG, the next step will be insurance.
My ring costs $7000 and the apprasial from GOG is $10900, 50% more than what I paid. If I go to an independent appraiser just for insurance purpose, the apprased value could be be even higher. I''m not sure if it''s possible to ask the appraiser to just value my ring like 20% higher than purchase price, which should be good enough to cover the inflation for the next couple years. Since I live in NJ, in case of loss, I can easily go to GOG to get a replacement without paying high mall jeweler price.
I searched the forum, basically there are two choices - Chubb and JM. From what I learned Chubb has cash out policy, can insure with purchase amount, but per dollar premimum is higher, and it''s not easy to find a broker to issue standalone chubb policy. Therefore I may go with JM.
If the appraised value can be lower to $9000, according to JM the premium savings would be about $30 per year. I''m not sure if it worth the trouble? Is it even possible to ask GOG to reissue an apprasial with lower value?
I may also want to add $500 deductible to save additional 14% premium, I have $1000 deductible on my auto insurance, but I saw somewhere mentioned most people want 0 deductible?
Anyway thanks for your inputs!