Received the ring, now what?

[ballercaller]

So I expect my ring to arrive tomorrow but now curious what to do after picking it up. The proposal won't be for another month, but until then what should I do? Is there anything in particular to look for with the ring? I trust that the diamond I selected is what I will receive. Any way to truly make sure? Do I need to take the ring to an appraiser after getting it? Also insurance? I need to get a safety deposit box also to store it for the next month or so. Anything else I should be considering after picking up the ring?

 

[SB621]

Yes you should insure it. I would only insure it for the price I paid. So if you spent $4500 on the ring then ask your insurance company to insure it for that amount.

Did your diamond come with a lap report? If so then I wouldn't personally bother with an appraisal. I find them to be pretty worthless if you already have a lab report and a waste of money. If you want piece of mind then sure go ahead. Most appraisals are under $200 and don't take very long. However, make sure you find out from your appraiser what costs they are associating- is it the replacement costs? The actual value cost etc? If I had a dime for every guy that came on here to ask why their 4k ring appraised for 16k I would be quitting my job.

To sum up:
Yes get insurance
Forgo the appraisal (in my op)
I wouldn't even bother with the safety deposit box unless you have a lot of people coming into your home. I think my ering sat in my husband's sock drawer for 6 months before he proposed. He had it insured so if it got stolen it wasn't a big deal as it was covered.
Think of fun/ romantic ways to propose!

Good luck!

 

[TracyBear]

A cheap and free way to confirm that the center diamond you've bought is the one that's in your ring is to bring it to Zales, Gordons, Kay's, etc on a weekday. They can help you view your diamond's laser inscription for free under the microscope. You can match it up to your certification papers. You can also bring it to a trusted jeweler and have them draw a plot for you and compare that to your cert too. Mine did that for free as well since I take all my repairs to him.

Insure it! Ask for a realistically appraisal, not much higher than what you've paid for it. You don't want to pay a heavy insurance premium, but you want to be able to replace the ring in the future as diamond prices goes up over time. Make adjustment for that. Ask if the insurance covers the ring if it's lost, most will only cover you if it's stolen and there's a police report.

My fiance also stored my ring in his sock drawer for a month before giving it to me. I wished he had purchased a safely box to store his important paperwork and my ring. I think when you own a house, cars, etc, you need to get safety box at your bank. You don't want to be in a situation where your house burns down and all the insurance papers went with it. My relative felt really safe because they lived in a gated community with 24 hours surveillance up on a secluded hill. They bought huge heavy metal personal safes, but when their home was burglarized while they were on holiday, the vandals don't care about breaking into the safe, they just carry the entire safe away. I believe in sharing love, not finances, but I actually offered to share my safety box with my fiance after he lost our appraisal papers. He still refused, that stubborn lovable man. Goodness forbid if something happens between us, I'll just make off with his sock drawer cause apparently it holds all his worldly goods. j/k!

Hope this helps.