Just got an Ering! insurance time...

[jkheat]

Hi all,

Just made one of the biggest purchases of my life from whiteflash. Will be getting an Ering soon. I had some issues getting insurance as most of the ones in australia are attached to home and contents which I don't have living at home.

Can anyone suggest what alternatives there are? I read about Qreport which I tried a quote but that came around 400 for a 11K ring which seemed a lot more. I did read someone paying 50-60 a year. But they did mention the ring insurance was a anywhere u go, and basically everythign such as accidental lost, damage, fire, theft and all that jazz, which is kind of something I was after.

Are there any other alternatives and maybe some recommendations especially for me living in Australia?

Thanks in advance.

 

[laurenk]

Hi,
Do you mean general insurance, so if ring got lost or stolen you would be covered? I'm also in Australia and simply list my engagement ring through my house and contents as a portable extra. This mean if if gets lost or stolen either in my house or anywhere in Australia or NZ my ring is covered for what its insured for. I had to supply a valuation cert to my insurer.

Also, I'm looking at upgrading my ring, and am interested to learn about your experience with whiteflash. I'm skeptical ordering online from USA when I live in Brisbane. Would love to know more if you are happy to share.

Lauren

 

[hawaiianorangetree]

I have q report insurance for my studs and I'm really happy with them. Just remember the price quoted to you includes $100 or so to cover the hard covered book that they print for you which includes photos and particulars. The next years premium will be lower.

Yeah the premiums are higher than your normal home and contents insurance but the ring is covered anywhere in the world and they will let you return to white flash to replace it if something happens. They also come up with their own evaluation of what they think it is worth. For me, it was more than I paid but far less than an inflated appraisal that is so common in Australia. Therefore saving you money in premiums anyway.

If you do go through your normal home and contents be vary wary and make sure you read the fine print. Many won't let you replace your stone through where you purchased it and wont let you pick your stone out, they will provide it to you. I guess that is fine if you purchased a ring from a run of the mill store in Australia, but if you have gone to the trouble of buying an ideal cut stone OS you would want to be sure that you can replace it with one!

I'm currently resetting my own ring which is under our home and contents but once it is completed I will be switching to Q report.

 

[SapphireLover]

I'd highly recommend policy that covers you if a prong us caught/ damaged and your centre stone falls out. As somebody who has just lost her centre diamond, I am delighted I paid extra for such a good policy. I've had a loss adjuster out and they have settled my account with the jeweller of my choice. I am in the uk so can't recommend an insurer for you, but can recommend you buy specialist full cover. My golden rule is only by insurance for things you can't afford to replace.

 

[jkheat]

Hey both,
really appreciate your replies. I guess I will have a look at Q report again, it does have everything I need but if it is lower in the next few years I guess that is a big factor. I did notice the insurance attached to a general/home contents as an extra was still limited by locality of the ring. Will maybe ask them for more information. Thanks for your input Hawaii.

Lauren> Yeah I have just sussed out the misses house and contents insurance and will ask them about what they can offer. I am actually having this ring sent to Hong Kong and picked up by friends which is somewhat an issue to get a valuation on until it gets here. I am hoping to sort insurance out as soon as it is picked up in Hong Kong. I will definately let you know how everythign goes but for now I must admit it has been very nerve racking. Given the reputation of WF, I dont really feel to anxious about getting the ring but I do have a friend who was burnt when diamondexchange in aus went under. I am also getting this sent O/S to save on GST too which was a big factor. If everything works out this is an extra 10% in my pocket instead of tax. Am expecting to have everything sorted in the next week and get the actual ring just after new years but will keep you posted.

Sapphire> Very good point. I think given how much this has cost in terms of money and time spent, I would really prefer specialist cover to protect on all things you have mentioned including the usual theft, accidental damage, etc. I just have had trouble finding one besides Q report which was a bit more expensive that I had expected. But given how special it is, I think it is prob worth spending a few more pennies given how important the ring is. Thank you for your input.

 

[ZahraLeyla]

I got a ballpark premium of $1186 (not a typo) from Q Report for my ring That is extraordinarily high! Can anyone recommend decent contents insurers who will insure high value items?

Additionally, Q Report won't issue a covernote for me when I pick my ring up from NZ. That means it will be uninsured for about two weeks, which I'm really nervous about. Any suggestions?