Quickest way to get insurance for colored gem?

[JulieA]

Anyone know what is the quickest and easiest way to get insurance for a tanzanite before I send it to Leon to be set? I have certification paperwork from dealer with all the stats, quality ratings, and purchase price.

Ps. It is a beauty! 6.98 ct octagon, vivid blue color, dimensions 12.3 x 9.8 x7. I will post pics when I can!

 

[Harriet]

You lucky girl!

Try Chubb -- they can insure up to $50k in 1 day. Btw, do you know whether Leon himself has insurance against damage during setting? I''m about to drop something off too.

 

[neatfreak]

Jewelers Mutual is super easy, you can do it online, and you can use your own jeweler for replacement. They also DO cover the stone while setting, which is an important question to ask, because most insurance DOESN''T cover it.

Usually easier than Chubb to track down since not all Chubb agents will write single policies for jewelry and most won''t bother unless it''s worth more than $10,000

 

[JulieA]

I called Chubb directly from a number I found on another thread and they said they would only insure stones purchased from stores that have an agreement with them. I want to find insurance that will give cash- not replacement- because I know how difficult it will be to find a similar quality stone for replacement. Advice??

 

[JulieA]

Lean does NOT insure any type of stone for damage while setting. he is only covered if stone is stolen or lost. He was very open and upfront about this and he said he does not know of any setter that would insure stone for damage while setting because it is way too expensive and insurance company will not insure loose stones, only stones that are in setting.

So- seems only Jewelers Mutual will cover loose stone while setting- but info seems sort of vague about this option. Anyone know someone who actually had to make claim for stone while setting?

P.S. called Chubb direct and they gave me the runaround- used Witeflash referal- Ralph at Touchstone- and very helpful and can get me chubb or gemshield after Leaon sets. We discussed JM and he no longer works with them.