I have been reading the threads regarding MrsWhitney's problem getting her claim settled and would like other opinions regarding jewelry insurance. I currently have 2 rings covered by PerfectCircle. They were both purchased from reputable vendors and I had receipts as well as GIA certificates for them. Now I need to insure a ring that is inherited. I have an old GIA certificate, the original receipt from 20 years ago and appraisals from 2013 and 2015. This is a light fancy yellow ring with trillion sides. My dilemma is the appraisals. They are totally different, one double the value of the other. If I take it back to the two jewelers in town who are "upscale", I get an appraisal in the higher range so I took it to a GIA certified appraiser in a smaller store and got a more modest appraisal. He specifically asked was it an estate or insurance appraisal and I said estate. He said estate appraisals come in lower than insurance ones. So do I insure it as at the higher rate, ie, insurance appraisal or the estate one?
I have never lost a piece of jewelry and store it in a huge Liberty safe. I intend to pass this down to my daughter and will take care with it. I would hate to under insure or over insure and I certainly don't want to fight with a carrier if I ever file a claim. This whole snafu with PerfectCircle for just 65,000.00 makes me leery of using them with my new ring. I would appreciate advice.
I have never lost a piece of jewelry and store it in a huge Liberty safe. I intend to pass this down to my daughter and will take care with it. I would hate to under insure or over insure and I certainly don't want to fight with a carrier if I ever file a claim. This whole snafu with PerfectCircle for just 65,000.00 makes me leery of using them with my new ring. I would appreciate advice.
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