by ZhenyaH » Jan 12, 2011 I've been mostly a lurker but benefited tremendously from this site. I wanted to share something in return so that other PS members can learn from this forum as I have throughout the years. Back on Dec 15th, I realized that the diamond from my e-ring was missing. I was in a meeting when I looked down to my hand and noticed the big gaping hole. I called USAA to file a claim that night, crying on the phone. Here's the process that was outlined to me: 1) USAA will try to find a similar diamond 1A) If I accept the diamond that USAA finds, then I can have it shipped to me and USAA will pay to have it set or 1B) I can accept the diamond that USAA finds, I send in my e-ring setting and they'll set it for me or 2) I can accept the cash value of the replacement stone. It was option #2 that worried me. I did not feel comfortable USAA finding a similar stone for me because I would not have had the opportunity to review the specs/certificate until the stone is selected and shipped to me. As for option #2, the replacement value is not the same as the amount that the ring (or the diamond) was insured for. The replacement value would be determined by USAA's whole sale price, which would be significantly lower than what you'd pay retail. The stone, which was a 1.03 carat radiant cut (SI1, G), was purchased for approximately $5000 from a BM store (definitely before I discovered PS), I believe. Its cut was good, (shallow depth) so it appeared bigger (all of which I learned later). A similar stone today from any of the PS vendors would cost $3-4K. Because of the holidays, it took a while for the claim to be processed. On Monday, I found out the cash value of the claim and it was approximately $4200 total. I opted for the cash value and the amount has been deposited into my account already. All I needed to do in return was to submit photos of the ring, showing the damage. All in all, I'm completely ecstatic with the USAA claim process. I wish it had taken less than the length it took but I understand with two major holidays, it was going to take long. If you had any questions/doubts about going with USAA, I hope my experience can help you. Thanks, PS! Ps: I ordered a diamond from James Allen and I will post it separately once I have it set.