Is your e-ring UN-insured?

[Harriet]

My DF thinks the probability of damage/loss is too low to warrant insurance. But, mine is being re-set this week, and risk-averse me is concerned about chipping.

 

[Lorelei]

You need to check that an insurance company would cover the diamond against damage while being worked on such as resetting etc, as not all vendors or jewellers will take the risk, rare but sometimes accidents happen. That is a fab rock you have Harriet, so I would think insurance is important.

 

[dtnyc]

shh- don''t tell anyone but-

Mine was uninsured for a while- but now it is on a rider on our renter''s insurance.
When I eventually get it re-set I will get the special coverage that would cover any damage that could occur if it were damaged during setting, etc.

just as an aside:
I have to say that when a man gives a woman an e-ring he should have it independently appraised and insured on his own- especially if he purchased/designed the ring completely on his own.

 

[sunshine14]

My ring will be insured (IF I EVER GET IT) I have always been of the mindset...If I can''t afford to replace it, I should insure it.

Maybe down the road I will stop with the insurance, but right now, if something happened, I''d be ringless

Anyways...just my two cents.

 

[Ellen]

Harriet, I can't believe you don't have that insured.

Unless you can afford to buy what you MAY lose/break with no problem, it is not worth the gamble. Things happen when you least expect it.

Get it insured.

 

[chrono]

Think of it this way, Harriet. Can your stone and setting be replaced without PAIN to your wallet if anything should happen to it? If so, then you don't need insurance. If you are not in a financial position to easily replace the ring without feeling the pinch, then insurance is a MUST. Since you have a very good sized diamond and a LM ring, I highly advise getting insurance.

Remember the drain incident? Suppose, it was your ER and it really went down the sink and is gone for good. If you have insurance, then a replacement ring can be had without much hassle (other than the sentimental pain factor or the original ring). If you don't have insurance, then you'll have to fork out $$$ for a new diamond and setting.

 

[Madam Bijoux]

I agree with Ellen:

Things happen when you least expect it.

Chipping/breaking while being set is just one risk. I was once attacked in the vestibule of a prestigious 5th Ave department store. You never know who is watching you or what they''ll try to do.

 

[Harriet]

Date: 7/16/2007 10:45:46 AM
Author: Lorelei
You need to check that an insurance company would cover the diamond against damage while being worked on such as resetting etc, as not all vendors or jewellers will take the risk, rare but sometimes accidents happen. That is a fab rock you have Harriet, so I would think insurance is important.

Thanks, Lorelei. Btw, I''ve been meaning to tell you that your new avatar is hysterical. My dogs used to do just that.

 

[Harriet]

Date: 7/16/2007 10:46:56 AM
Author: dtnyc
shh- don't tell anyone but-

Mine was uninsured for a while- but now it is on a rider on our renter's insurance.
When I eventually get it re-set I will get the special coverage that would cover any damage that could occur if it were damaged during setting, etc.

just as an aside:
I have to say that when a man gives a woman an e-ring he should have it independently appraised and insured on his own- especially if he purchased/designed the ring completely on his own.

Yay, I'm not the only one!

What was your reason for leaving it un-insured? I didn't know you were planning a re-set. Exciting!

 

[Harriet]

Date: 7/16/2007 10:49:34 AM
Author: sunshine14
My ring will be insured (IF I EVER GET IT) I have always been of the mindset...If I can''t afford to replace it, I should insure it.

Maybe down the road I will stop with the insurance, but right now, if something happened, I''d be ringless

Anyways...just my two cents.

Thanks! Where is your ring?

 

[Harriet]

Date: 7/16/2007 10:50:09 AM
Author: Ellen
Harriet, I can''t believe you don''t have that insured.

Unless you can afford to buy what you MAY lose/break with no problem, it is not worth the gamble. Things happen when you least expect it.

Get it insured.

Ain''t it shocking? My DF is a, shall we say, unique one.

 

[Regular Guy]

Anyway,

Jeweler''s Mutual has the provisionally unique policy, that can help insure you while you''re set. Search here for info using JM and/or Sue Fritz, or look below my signature for the update, etc.

Or.. you could join a club who enjoys living dangerously, too. Premiums are less.

 

[diamondseeker2006]

Harriet, remember the Cartier ring down the drain? I''d really hate to think of something like that happening to your diamond. Just think of all the right hand rings that amount of money could buy if you had to pay for a 3 ct. replacement ring!!! I''d only not insure pieces I could easily afford to replace myself or pieces that I wouldn''t even care to replace. I think you should insure your e-ring and maybe your diamond studs. The rest is optional.

 

[diamondfan]

Insurance is like a gamble. You gamble that you might need it so you have it, and the company hopes you never need it. But it is there to protect you. My last two rings from Tiffany''s were insured before I walked out of the store. My first ring, which was a lot less in terms of cost was also insured on a separate umbrella policy on my insurance. Everytime I get a piece of nice jewelry I call and get it added, with all the necessary documentation. I would absolutely get it Harriet. What if it gets stolen while being reset? Who is responsible then? My rates with Chubb are high but there is not a chance I would not have it covered. And make sure they cover what you want covered, and that is going to give you replacement value at the same quality.

 

[Harriet]

Date: 7/16/2007 10:51:47 AM
Author: Chrono
Think of it this way, Harriet. Can your stone and setting be replaced without PAIN to your wallet if anything should happen to it? If so, then you don''t need insurance. If you are not in a financial position to easily replace the ring without feeling the pinch, then insurance is a MUST. Since you have a very good sized diamond and a LM ring, I highly advise getting insurance.

Remember the drain incident? Suppose, it was your ER and it really went down the sink and is gone for good. If you have insurance, then a replacement ring can be had without much hassle (other than the sentimental pain factor or the original ring). If you don''t have insurance, then you''ll have to fork out $$$ for a new diamond and setting.

Do I ever remember the sink incident! I''ve had scotchtape wrapped around my band since.

 

[Harriet]

Date: 7/16/2007 11:05:01 AM
Author: Madam Bijoux

I agree with Ellen:

Things happen when you least expect it.

Chipping/breaking while being set is just one risk. I was once attacked in the vestibule of a prestigious 5th Ave department store. You never know who is watching you or what they''ll try to do.

Yikes! I hope you weren''t harmed.

 

[Harriet]

Date: 7/16/2007 11:26:00 AM
Author: Regular Guy
Anyway,

Jeweler''s Mutual has the provisionally unique policy, that can help insure you while you''re set. Search here for info using JM and/or Sue Fritz, or look below my signature for the update, etc.

Or.. you could join a club who enjoys living dangerously, too. Premiums are less.

Good to know. Thanks!
Haha.

 

[Harriet]

Date: 7/16/2007 11:28:19 AM
Author: diamondseeker2006
Harriet, remember the Cartier ring down the drain? I''d really hate to think of something like that happening to your diamond. Just think of all the right hand rings that amount of money could buy if you had to pay for a 3 ct. replacement ring!!! I''d only not insure pieces I could easily afford to replace myself or pieces that I wouldn''t even care to replace. I think you should insure your e-ring and maybe your diamond studs. The rest is optional.

Oh, I remember!

 

[Dee*Jay]

Harriet, are you kidding me?!? Get thee to an insurance carrier immediately! That's why they call it *insurance*--it's for the *unexpected*!!!

 

[Harriet]

Date: 7/16/2007 11:32:46 AM
Author: diamondfan
Insurance is like a gamble. You gamble that you might need it so you have it, and the company hopes you never need it. But it is there to protect you. My last two rings from Tiffany''s were insured before I walked out of the store. My first ring, which was a lot less in terms of cost was also insured on a separate umbrella policy on my insurance. Everytime I get a piece of nice jewelry I call and get it added, with all the necessary documentation. I would absolutely get it Harriet. What if it gets stolen while being reset? Who is responsible then? My rates with Chubb are high but there is not a chance I would not have it covered. And make sure they cover what you want covered, and that is going to give you replacement value at the same quality.

If I may, I''m curious as to where your hubby stands on the issue of insurance?

 

[Harriet]

Date: 7/16/2007 11:42:18 AM
Author: Dee*Jay
Harriet, are you kidding me?!? Get thee to an insurance carrier immediately! That''s why they call it *insurance*--it''s for the *unexpected*!!!

I wish I were. But DF is in your industry and thus in the practice of risk-taking.

 

[risingsun]

Harriet...I cannot believe you don't have that honker of a diamond insured

Please get your ring insured ASAP and when you have it in the LM setting, have it reaapraised and adjust the insurance to reflect. Egads woman, what are you thinking [/end of rant]. I wouldn't rant, if I didn't care

 

[Harriet]

Date: 7/16/2007 11:48:16 AM
Author: risingsun
Harriet...I cannot believe you don't have that honker of a diamond insured

Please get your ring insured ASAP and when you have it in the LM setting, have it reaapraised and adjust the insurance to reflect. Egads woman, what are you thinking [/end of rant]. I wouldn't rant, if I didn't care

Thanks for caring!

 

[DivaDiamond007]

Mine''s not insured but it should be

. I need to figure out how to find a local appraiser so I can get a good value and have it added to our renter''s insurance. Hopefully someday soon though.

Jess

 

[Independent Gal]

Mine''s not insured... yet. But it probably should be.

Worse yet, my mom''s 2.7 ct honker isn''t insured!!!! I keep getting on her case about that, but I guess I''m no longer "one to talk".

 

[diamondfan]

He is 1000% behind it. He would not allow me to have any of my expensive pieces uninsured, even though we have safes in the house and alarms and a couple of bank boxes. We have been the victim of in house theft from household help, and though my stuff is usually locked up, it is not a given that I might not leave something out one night. One of my projects has been updating all of our appraisals and looking over our scheduled items, and adding and changing things since we moved our high value items to Chubb. I have been making sure all appraisals are appropriate and that Chubb has the most current information. My husband feels it is worth the money, better to have it and not need it than vice versa, and to replace my nice things would be exorbitant at this point. So I am fine with it, he is willing to pay the premium so I am fine with doing my part.

 

[Harriet]

DivaDiamond007, Indy,
That makes 3 of use who are living on the edge.

DF,
Thanks for your reply.

 

[dtnyc]

Date: 7/16/2007 11:20:05 AM
Author: Harriet

Date: 7/16/2007 10:46:56 AM

Author: dtnyc

shh- don''t tell anyone but-


Mine was uninsured for a while- but now it is on a rider on our renter''s insurance.

When I eventually get it re-set I will get the special coverage that would cover any damage that could occur if it were damaged during setting, etc.


just as an aside:

I have to say that when a man gives a woman an e-ring he should have it independently appraised and insured on his own- especially if he purchased/designed the ring completely on his own.

Yay, I''m not the only one!

What was your reason for leaving it un-insured? I didn''t know you were planning a re-set. Exciting!

It was un-insured because my then-fiance, now husband never had it insured. I wasn''t able to get renter''s insurance on my old NYC apt. and he never bothered w/ a chubb or jeweler''s mutual policy because the old jeweler who made my ring said that as long as I didn''t take it off (which I rarely did) there was no point.

As far as a re-set goes, it''s not a short term thing- want to have it down by end of Jan ''08. Not a complete re-styling, keep the 6 side stones, but I want claw prongs and the whole thing ''lowered''- it''s v. high right now and not practical.

 

[diamondfan]

Harriet, I am sure being in the industry your dh sees one side, but think about even the small chance something happened. My hubby is very practical as well but knows even if the risk is slight, if something were to happen I would want a new ring for sure so why make things more stressful? Especially with metals and diamond prices seeming to escalate all of the time. If you can just go out and replace it with the same thing, or close to it, and he would agree to do so, fine, but it seems penny wise and pound foolish. You can also hope you never get sick, but if you do, having insurance is certainly a help. No one plans on these things, but hey, you never know. Also, my hubby has been interested in trip insurance, we take some very costly trips and if we could not go for any reason, it makes some sense, though we have never gone to that point yet.

 

[diamondfan]

Dtnyc, you still could smack it or be held up, not to be nuts but a friend''s mom was robbed in Century City, California, in the day time getting into her car by a well dressed man who had been watching her all day and struck when he had the moment to do so. I still would insure it, because with my luck, some odd weird thing would occur, the one in million...