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josh

Rough_Rock
Joined
May 16, 2002
Messages
5
Just wanted to let everyone know that not all insurance saleman that sell Chubb insurance are created equal. My first attempt to find a Chubb salesman was a local place that said they wouldn't sell me Chubb Valuable Article insurance unless I had other types of insurance purchased from them.

I was a little surprised and asked her how come the Chubb website states that Valuable Article insurance can be purchased from Chubb without having any other Chubb insurance? She gave me some crap line about local service and wanting to keep your business then inquired about whether I wanted to purchase auto/renters insurance from their company so I could purchase the Chubb insurance.

I said I might be interested in renters insurance and then heard a nice little sales pitch on it. She then told me i should purchase the renters insurance with a wrapper for the engagement ring. I told her I wasn't interested in having my 1.01 G VS1 Superbcert replaced "in kind" by whomever would offer the cheapest 1 carat G diamond to the insurer. She then told me a local jeweler that I had visited does all the replacements. I had checked his stones before I decided to buy online. I paid under seven for my subercert, the closest thing he had in quality was a stone for nine, it was a one carat F, but nowhere near the cut of the stone that I had bought. I decided to make an appointment to see the salesman on friday, but in the meantime I thought I'd look for other Chubb agents.

I called the next Chubb agent that is about fifty miles away in another city. They sell Chubb insurance and had to double check whether or not they would insure the ring since I only wanted insurance for seventy-five hundred dollars. I waited about five minutes for her to check with the underwriter and was told it was no problem. I don't even even need an appraisal, I just need to send the appropriate paper work and I'll be insured by Wednesday. Big difference in attitude at the second agent too, I didn't have to hear any sales pitches for other insurance products I don't want.

Pictures and a buying experience post to follow soon.

Should I "remember" to cancel my friday appointment with the first Chubb agent?

Josh

-forgive the spelling/grammar, I am a product of poor educational system
 

lawmax

Brilliant_Rock
Joined
Dec 31, 1999
Messages
1,317
I had a similar experience. My agent is nice and agreed to look into whether or not Chubb would insure my ring if I had no other policy with Chubb. She found out that it works and then it was all so easy. I'm glad it worked out for you.
 

mcho

Rough_Rock
Joined
May 21, 2002
Messages
6
Wondering if anyone has any experience with any Chubb insurers in the boston area. Or with any other insurers other than Chubb for that matter. Posts above are very helpful.
 

glitterata

Ideal_Rock
Joined
Apr 17, 2002
Messages
3,618
My Chubb agent in NYC was extremely professional, attentive, and pleasant. I chose her by getting a list from the Chubb website of agents in my zip code. I went down the list phoning them; when I got a "voice jail" system, I hung up and tried the next agent on the list. Mine was the first one where an actual human being answered the phone.
 

barry

Shiny_Rock
Joined
Mar 21, 2001
Messages
441
Josh;

The Chubb Agent you need to speak to is Dave Stone.

e-mail me: [email protected] and I'll send you
his Toll-free # tomorrow. I have it in the shop.

Best regards,
Barry
www.superbcert.com
"When Good Isn't Good Enough" :wavey:
 

verticalhorizon

Brilliant_Rock
Joined
Mar 9, 2004
Messages
840
Can everyone post the details of the policy? I've read that agreed upon value is where they pay the appraised value instead of just finding a suitable replacement. I don't own a home, so I'm unfamiliar with the process.

PS: I visited the Chubb site and it SOUNDS great. What's the catch?

http://www.chubb.com/personal/masterpiece_adv_vac.jsp
 

eyesoftexas

Shiny_Rock
Joined
Feb 28, 2004
Messages
141
All,
I called Chubb on three different occasions and was denied and told they will only handle Blue Nile. I even called some of the numbers given on this thread and still no insurance. Finally I called PLIB and they will write Chubb policy for me - go figure!! They said that as long as I have $200 a year in premiums they will write the Chubb policy. For $18K it will be costing me $233 a year with the Chubb policy. So am I paying more because I am going through PLIB vs. Chubb direct (which seems they wont write it for me anyways)????
 

Mara

Super_Ideal_Rock
Joined
Oct 30, 2002
Messages
31,003
The catch is that Chubb is more expensive than your average State Farm or Allstate or similar insurance company.




They do the cash payout but you pay more in premiums per year.




We priced them out with StateFarm..for a $10k insured piece. SF was something like $150 a year and Chubb was $200 a year.




I went with Chubb because I wanted that extra peace of mind to not have to worry about 'like kind' or any drama, just cut me a check. Hopefully I will never lose my ring, and then Chubb will just get alot of my $$...but this was the way for me.




Sure $50 doesn't seem like alot for a year, but 10 years later? $500 that I will have paid extra to Chubb. Chances are I won't collect on a policy either. THAT is the catch with any type of insurance.




 

verticalhorizon

Brilliant_Rock
Joined
Mar 9, 2004
Messages
840
Mara,

Did you have a problem going to Chubb like the other people?
 

baltneu

Shiny_Rock
Joined
Feb 28, 2004
Messages
371
If you have homeowners, as I do with State Farm, it is easy to do, they also have good rates overall.
What is diff between State Farm and Chubb policy that warrants the premium difference?
 

Mara

Super_Ideal_Rock
Joined
Oct 30, 2002
Messages
31,003
Chubb has a payout policy, balt, whereas I don't believe SF does. They replace the stone with a 'like kind' which sometimes may not even mean the same brand (if you have a branded stone). Since I'm a cut snob now, I don't want anyone replacing my stuff but ME. Hence preferring a check cut for me. However, Chubb isn't the only company out there that does the check cut policy...there are others. They were just the most well known when I was looking.




Diag...no luckily I didn't have a problem with Chubb, probably because I got my policy in before they were bought/sold/connected with Blue Nile, so at that time you could just call them directly and insure over the phone with their main office (not using an agent). My policy just renewed with no problems, but I am afraid when I add Greg's ring that they will make me add a new policy and then I may have a hassle? I am not sure if I can just tack him onto my policy (with appraisal etc). I will have to find out.
 

verticalhorizon

Brilliant_Rock
Joined
Mar 9, 2004
Messages
840
I'm curious why would it matter at all WHERE you purchased your ring from so long as it's appraised value is verifiable? That's dumb... AND bad for business!
 

baltneu

Shiny_Rock
Joined
Feb 28, 2004
Messages
371
Mara
I was curious in ref to your response, I called my SF agent and he said that it is a "replacement" scenario, not a cash payout, like Chubb has. I further explained that my daimond was Ideal cut, H & A. He said that if that info was in appraisal, then they would replace with like kind, H&A, etc. My appraisal from Dave Wolfe had that level of detail in report, in fact the report was 9 pages! So it might be a good idea for others to get that level of detail in appraisal for insurance co.
 

openhelix

Shiny_Rock
Joined
Feb 4, 2004
Messages
105
Does anyone have a recommendation for an agent that sells Chubb in the bay area, CA??? If they sell mercury as well, I'd be happy to move all my policies over to them as my current agent 1. doesn't sell chubb,
and 2. doesn't return phone calls.


thanks!
 

Mara

Super_Ideal_Rock
Joined
Oct 30, 2002
Messages
31,003
balt...thing is..it has been posted on here that sometimes the insurance company doesn't even keep copies of what you send over to them. They may keep the main page that has the details on the stone, but they are not going to scan in and keep 9 pages of information.




When I sent mine over to Chubb, I had a 20 page document. They told me they only wanted the main page with replacement values. So that is what I sent over. They didn't even require the entire document for records (too tedious to store them I am sure).




So that is why I didn't trust other companies with 'replacement value'. Honestly, it's so easy for someone on the phone to tell you one thing...like 'dont worry...we have all your information', when in reality god only knows, and there is no accountability later for someone 'guarateeing' you over the phone that things will be fine.




I'd much rather have in writing that Chubb will pay me a check, end of story. Also, Chubb only has 3 exceptions for payment. I think they are something like 'natural disaster, nuclear explosion, and intentional harm'. That is pretty self-explanatory to me!




Plus to be really honest, I don't want to deal with someone else trying to help me find my H&A or similar, and what if I want an upgrade to the stone or something? How does that work with 'replacement with like kind'. Too much room for error IMO.




 

Kay

Ideal_Rock
Joined
Feb 20, 2003
Messages
2,573
----------------
On 3/18/2004 12:50:46 PM Mara wrote:




Diag...no luckily I didn't have a problem with Chubb, probably because I got my policy in before they were bought/sold/connected with Blue Nile, so at that time you could just call them directly and insure over the phone with their main office (not using an agent). My policy just renewed with no problems, but I am afraid when I add Greg's ring that they will make me add a new policy and then I may have a hassle? I am not sure if I can just tack him onto my policy (with appraisal etc). I will have to find out.
----------------

I also managed to get a policy directly from the company before they allied with BN. I just received my one year renewal, but I am also wondering what will happen if I try to add more pieces of jewelry to my existing policy. Mara, please let us know what happens when you try to add Greg's ring.
 

pauls girl

Shiny_Rock
Joined
Sep 11, 2003
Messages
192
I'm curious about adding on additional jewelry to our Chubb policy as well. We'll be buying both of our wedding bands in the next few months, and I know I'll want to add them to the policy...as long as it isn't a big hassle.

Let us know what you find out.
 

BenNYC

Rough_Rock
Joined
Feb 25, 2004
Messages
39
I just started a Chubb policy today over the phone with a broker here in NYC. No mention of Blue Nile at all. All he said was to have my appraisal faxed to him by the end of the day tommorow. I have apt insurance with State Farm as well and asked them about the ring policy. After they (SF) told me that they would replace it with a similar stone I didnt want to take the chance with anyone but me and my fiance picking out what would be a suitable replacement should something happen to the ring that I spent over a month searching for. I think going with Chubb is worth the extra price as it is comparing apples to oranges.
 

harlowqueen

Rough_Rock
Joined
Jan 10, 2004
Messages
21
BenNYC:

Do you recall the name/number of the agent in NYC you used? I, too, am looking to purchase Chubb Insurance for my ering.

Thanks!

Harlowqueen
 

baltneu

Shiny_Rock
Joined
Feb 28, 2004
Messages
371
Mara
If you deliver 9 pages or 20 pages, the insurance company is "required" to keep copy of all, they now high speed scan and store lots of documents very easily. When you mail them letters they even scan the envelope for the postmark! I gave my SF agent all 9 pages, they kept all. Perhaps some of the people on the PS site may want to get this clarified with their SF agent or their agent before plunking down a "premium" for Chubb. Although we do hear of diamond losses, it is a small percentage of people who do lose/stolen them. If it wasn't a small percent, the insurance co would not take on the risk.
 

Mara

Super_Ideal_Rock
Joined
Oct 30, 2002
Messages
31,003
Balt..the premium for me was worth it in terms of getting a check. I didn't want to replace the ring with 'like'..whatever that meant. As I noted, chances are I'd want an upgrade or a whole new ring style IF I lost it or it was stolen. So why bother with some company who wants to replace it AS IS...that wouldn't be what I'd want anymore possibly. Easier to get the check for $10k and we do what we want with it. Worth the premium in case. Plus, any insurance is a luxury...some people put the $$ they pay for premiums into a fund every year and then if something happens 10-20 years down the line, guess what? They have enough to get a new ring! But if not they actually get to USE that money. With Insurance Co it's lost.
So either way....you put the money somewhere...some people don't want insurance.





That said, I could have sworn in some previous posts that some vendors noted that companies do not always keep all documents...don't know about the law but possibly it's different in each state. Most companies just ask you to fax over the documents, not mail.




BECAUSE there is so much misinformation out there, another reason why I chose Chubb. I don't need the nebulosity of some random person on the phone 'guaranteeing' me that they scan and keep all my documents in case...and then finding out later that wasn't the case and they take no accountability for what I *heard*. No way. Just give me a check.




Also wanted to note that we use SF for homeowners and car insurance.
 

AtlantaC

Rough_Rock
Joined
Feb 12, 2004
Messages
80
Getting a valuable articles policy with Chubb now can be a real Easter egg hunt. If you have a claim, you'll want an agent who cares about your account. They can be a great ally. I sifted through Georgia agents on the Chubb list that didn't return phone calls, didn't write VA policies alone, wouldn't insure less than $XXX,000, had no idea what I was talking about, etc. Finally, a very helpful fellow called me back and set me up. He's a younger guy just getting married himself who understands that sometimes you do these kinds of things to establish a relationship with a client who can potentially bring in other business. Now, I'm looking at working with him for renter's and possibly moving my auto insurance as well.

If you're in Atlanta or somewhere in Georgia, send me a message and I'll get you his info.

Good luck!
Chris
 

Mara

Super_Ideal_Rock
Joined
Oct 30, 2002
Messages
31,003


----------------
On 3/19/2004 1:56:11 PM baltneu wrote:





Mara
Whatever floats your boat!!!!
----------------
Freedom of choice. It's a beautiful thing.
 

BenNYC

Rough_Rock
Joined
Feb 25, 2004
Messages
39
----------------
On 3/19/2004 10:58:00 AM harlowqueen wrote:

BenNYC:

Do you recall the name/number of the agent in NYC you used? I, too, am looking to purchase Chubb Insurance for my ering.

Thanks!

Harlowqueen----------------
Yes. I spoke with Chuck Chernick at ARTHUR CHERNICK COMPANY INC.
Their number is 212-697-2147.

Good luck.
 

openhelix

Shiny_Rock
Joined
Feb 4, 2004
Messages
105
Man, NO one has used Chubb in CA?? Given all the silicon valley money I'm sure there's got to be a few of us here.
 

BenNYC

Rough_Rock
Joined
Feb 25, 2004
Messages
39
----------------
On 3/19/2004 3:47:40 PM openhelix wrote:

Man, NO one has used Chubb in CA?? Given all the silicon valley money I'm sure there's got to be a few of us here.
----------------
Have you tried doing a search on their website for an agent in or near your zip code?
 

openhelix

Shiny_Rock
Joined
Feb 4, 2004
Messages
105
Yep... About a week ago I sent all of them an email. And with a few I left voicemails as well to follow up. I've recieved ZERO call-backs or email replies. It's a little disappointing.
 

verticalhorizon

Brilliant_Rock
Joined
Mar 9, 2004
Messages
840
I was searching for different insurance threads, but didn't find a conclusive answer...

Can you insure your e-ring for (almost) ANY value if you're willing to pay the premiums or can you ONLY insure it for it's appraised value?

Consider that you insure your ring now, but you lose it in as little as a year later, and DeBeers hikes prices 4 more times in the meanwhile?

You wouldn't have gotten it reappraised in a year, but now you can't replace it for the same price?

What do you do then?

Thanks.
VH
 

AtlantaC

Rough_Rock
Joined
Feb 12, 2004
Messages
80
This was discussed on another thread, but I don't remember which. I can only address Chubb, since they insure my fiancee's ering. The agent I worked with said you cannot over-insure, meaning insure for an amount above the appraisal (which is probably already inflated if you bought online). Besides the buffer zone I have between my replacement cost and retail appraised value, there is also a built-in inflation protection in the policy that could ultimately pay out up to 150% of the policy amount.
 
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