Opinions on Insurance

[cmlim]

Anyone have any particular likes/dislikes/opinions about insurance for an e-ring. Currently, I have found the stone that I want and I had it appraised. I''m still looking for the setting.

I''ve seen a lot about Chubb, is there anyone else?

Chris

 

[denverappraiser]

Chris,

Chubb is very popular with PS people because they offer a defined value style of policy instead of a policy where they replace the ring in the case of a loss. They just write a check. Firemans Fund and USAA are also good companies that offer this type of policy. These tend to have higher premiums than the replacement variety. Most homeowners offer what they call a 'rider' to allow you to add a piece of jewelery to your existing policy for an extra fee. This type of policy is usually about half of what Chubb costs. Naturally, the premiums will depend on your claims history, your state of residence and other variables but your insurance agent should be able to explain what their company has to offer. Specifically ask how they handle a claim on a piece of jewelry because the proceedures vary somewhat from company to company.

Neil Beaty, GG ISA
Independent Appraisals in Denver