Please help....Questions about insurance on my engagment ring?

[magsmecca]

Hopefully someone can answer these questions for me

I have lost my engagment ring and band worth 17,000. We have it insured by our home owners insurance company and have stated and scheduled it separatly for 20,000. Does anyone know if because I scheduled it on it''s own if it matters how I lost it. What are the steps taken once I file a claim and what should I prepare to tell the insurance company in order to get the most back?

Look for answers

 

[Skippy123]

I guess each company is different but an appraiser looked at the appraisal paperwork to verify the ring was worth the amount appraised and insured. Then they wrote us a check; I have State Farm w/a separate rider so it may depend.

 

[magsmecca]

Did it matter how you lost it? Did they ask you lots of questions?

 

[Skippy123]

Date: 4/6/2009 7:00:09 PM
Author: magsmecca
Did it matter how you lost it? Did they ask you lots of questions?

I don't know if it matters but I told them what happened. eta: I actually talked to my agent and told them as soon as I noticed it missing and I said I would wait a few months in hopes that it would turn up. I actually lost it in our kitchen remodel so I had hope it would turn up and when I looked high and low and it didn't turn up I called them and told them it didn't turn up. I am sorry you lost your ring.

 

[lliang_chi]

Magsmecca, I can''t add anything to help, but I did want to say "Bummer" that you lost it.

 

[magsmecca]

Thanks you guys!!!

Skippy do you happen to know if you had lost the ring outside your home, if it still would have been covered?

 

[brooklyngirl]

Do you have a copy of your policy, regarding the ring? I have a separate policy for my set, which includes "mysterious disappearance" and loss anywhere in the world. However, if they determine that the item was lost due to negligence (i.e. you left your ring in public, unattended), they will deny the claim.

I''m pretty sure the insurance company (depending on your policy) will either replace your set, or pay the amount it was insured for.

 

[neatfreak]

You really just need to be 100% honest with them. If you aren''t and they suss it out, they will deny the claim and probably drop you as a client. It''s fraud to lie to an insurance company.

 

[Regular Guy]

Date: 4/6/2009 8:53:29 PM
Author: brooklyngirl
Do you have a copy of your policy, regarding the ring?

It''s true, you should tell the truth, but it''s also true you would expect to be subject to the terms of the policy. As to my policy, I can tell you we''ve very disorganized, and I couldn''t put my hands on mine to review it. Maybe you can just get a friend to prospect getting insurance, and ask for the paperwork, so you can review it. It''s your right to both do so, and not look suspicious in doing so.