USAA / stolen ring update

[mymindslost]

Just wanted to update on here I recently had posted about my rings being stolen and then getting advice about recreating my ring or going with my original setting from my jeweler. I searched previously on Pricescope for threads regarding jewelry claims with USAA and found only a few but wanted to vent some of my frustrations, get advice from everyone and perhaps open eyes too of what I've been going through.

I'm so frustrated and know that after this process I'll be interested in moving my jewelry policy to someone else. We filed our claim over a month ago and it seemed like things were moving along great, we had appraisals and then uploaded pictures quickly for them as asked. We've never filed a claim with them for property loss and our whole family has been with USAA forever. They said they had their claims estimator working on things and then it would come down to us deciding whether to let their gemologist recreate the rings or us just cash out. From initial conversations it seemed like we would cash out for our appraisal values of all the rings and it would take 7-10 days.

Time has gone on and last week my husband calls for follow up again and gets asked if he would like them recreated or cashed out. We had talked about it and decided to cash out, in which they now tell us the value of my rings for all (My e-ring, 2 sapphire/diamond stacker bands and my family heirloom ring) would be only about $6k. We were floored and I was very upset to say the least. They basically have told me that they can recreate the rings for that amount so we can't be cashed out for more. I have tried to be understanding, asked it to be raised higher up (she said she did that) and it comes down to them saying their jewelry policy states that they if they recreate it - that's the value they cash out for. I don't understand how I can pay for a policy on the e-ring alone for $11k+ and it be worth only approx. $5k. I can walk in and get the same setting as my previous from my local jeweler but I get told they will only provide approx. $1k for the setting if that's the route I want to go with- which is definitely not what it costs. I've heard of people getting cashed out previously and she says that because I provided great pictures and with my appraisal descriptions that they can go off - it can be recreated.

I also don't understand how a family heirloom that I included the appraisal for and my mom has the mold to recreate the ring for can be "recreated". I argued that you can't recreate a family heirloom (that a mold is available in my moms safe deposit box for) but they tell me they can so it's only worth $600 (less than the appraisal value I gave them). Basically I'll have to take a hit on that ring and fork up extra $$ to have my mom get the ring recreated because I won't wear a ring different than my mom/sisters and all the women in my family have that's been passed down through generations.

I'm basically left to either cash out for the $6k and be left to come up with the rest of the money myself to go buy new rings or I am supposed to "trust" them to recreate my e-ring and 2 bands. They said they will send me CAD, wax mold, GIA certs etc of all the rings prior to creating. They said they will ship the diamond to me so I can get it inspected by my local jeweler for approval prior. I asked if they can guarantee that my e-ring will appraise afterwards for that $11k+ it was originally appraised for and I get this vague answer "it should be the same quality you had before" and "we will send a new appraisal with it." I asked if an outside appraisal will be the same and they said "it should be same quality as before." It will 2-4 weeks for them to even get a diamond to ship to me as well so who knows how long this process will take. My original diamond was picked out by my jeweler overseas personally for my ring so I'm struggling with trusting someone to pick this one.

I feel at such a loss. I loved my previous ring and I'm SO worried I'll look down at this new one, hate it and it won't have the same sparkle to it, ignoring the fact that the memories with it were there too. I'l be stuck with a ring I hate.

On top -yesterday was our 15th anniversary, my husband was in Boston for business and I'm dealing with no ring and this insurance stuff. This insurance claims person was supposed to call on Monday but didn't so I feel like we are going round and round some too.

Thanks for reading my vent I think I'll need some help with the GIA and CADs when they send them to me.

 

[MissyBeaucoup]

I am so sorry for your loss of your heirloom jewelry. This sounds like terrible service. We went through a tornado and there were huge differences in how the insurance companies treated people. Sometimes it was an unpleasant surprise. I hope you can reach a better resolution.

 

[kgizo]

Sorry for having to deal with these frustrations on top of the loss of your rings. I have USAA so am interested in how this is finally resolved as I may want to change my policy. I did get some confusing calls from them earlier this year about my jewelry. Something seems to have changed in the jewelry insurance department for the worse

 

[Big Fat Facets]

Gosh im so sorry to read about this and know that you are going through such an ordeal!!! i've never heard of that company. im wishing you lots of good energy and peace

 

[lovedogs]

This is total nonsense!!! If you were paying their premium based on an 11k value, how can they then turn around and say they are only giving 6k? Isn't that the entire point of paying insurance based on a certain $$ replacement value?? I am very confused.

 

[the_mother_thing]

First off, I’m really sorry @mymindslost for your being in this situation. It sucks bad enough losing something of monetary and/or sentimental value, but to feel like you’re getting a second ‘screwing’ by your insurance company probably feels like being slapped in the face. I also have USAA, and from my experience with them for 20+ years, it’s always been positive, including loss claim (flood in my previous home) and the multiple car accidents I’ve had due to others’ fault where USAA had my back and took care of me even when the other insurance company didn’t want to. And my premiums have never been increased unfairly IMO, even when USAA didn’t have to take care of me the way they did. So I am also eager to learn more about this, as I also have personal/valuable property policy with them for some of my jewelry.

I hate to sound like I’m dumping on you here, but what I’m wondering - and is often the case for people - is if the insurance appraisal was ‘inflated’ to the $11K value. In other words, what did the actual stone/s cost and what did the actual setting cost when it was originally made? Was it $11K thereabouts, a little less but $11k accounted for inflation, or was it considerably less (e.g., more than a 25% value vs. cost difference)? If it’s the latter, it sounds like you received an inflated insurance appraisal, which does you no good except to cost more money insuring something for a price that was unrealistic based on what you spent. And that’s where your beef should be (vs. USAA) if you clearly requested an un-inflated appraisal. It’s not really reasonable to spend (for example) $5K on a ring, get an appraisal for it that says it’s worth twice that amount (without good cause documented in the appraisal, such as something that is ‘truly impossible’ to replace/replicate or is so incredibly unique, there is not another diamond like it in the world), then expect that full amount to be paid out at a loss. That’s why many PSers are specific when seeking appraisals for insurance purposes so they’re not overpaying for something they’ll never realistically recover in the event of a loss.

So, if that is the case here, then what USAA is proposing may not be all that unreasonable, really. And if OP has access to the mold to recreate the ring, then it sounds even more reasonable that they can likely replicate/replace the ring for what they say. Keep in mind, they likely can get pricing on things that average consumers cannot due to the contracts they have in place. Also, if the stone/s in the ring/s that were lost weren’t documented to have (for example) a premium cut/characteristics, and the appraisal only noted the ER stone was a “G color, SI clarity round diamond”, then that’s all they are obligated to replace, I believe. It can be a painful & unfortunate lesson, sadly.

Now, if the ring/stones truly were worth $11K, and OP has documentation to substantiate that, then I’d say she has grounds to push back and/or engage additional assistance in recovering the full value from the insurance company.

Might you be willing to post your appraisal (removing/covering any personally identifying information, of course), so we have the facts and can help you, or at least let you know that what is being offered is/is not really fair?

 

[MollyMalone]

This is total nonsense!!! If you were paying their premium based on an 11k value, how can they then turn around and say they are only giving 6k? Isn't that the entire point of paying insurance based on a certain $$ replacement value?? I am very confused.

Well, replacement value is not synonymous with appraisal value. That's why we always encourage folks to not rely on the inflated "in house" appraisals that often accompany a purchase. The only time you can count on getting a check for $X amount is when you have a "declared value" policy which is when you and the insurer have agreed up front on the amount to be paid in the event of loss or damage. Declared value policies aren't common & they cost appreciably more than the standard policy.

Here are some useful comments from PS Trade members, who are independent appraisers -- @denverappraiser and @oldminer -- discussing USAA and appraisals & insurance in general from a thread 2 years ago:
https://www.pricescope.com/community/threads/appraisal-lower-than-expected.232161/#post-4188590

 

[mymindslost]

I have the receipts from our original purchase and they are just barely below appraised value so it wasn't like he up appraised dramatically, under 1K difference. I submitted the original receipts for my bands so those weren't inflated appraisal prices but what we paid and he gave us a deal when we bought those. We've looked around at what it would cost to replace and honestly it's more now than what I paid for them. The appraisal for the family ring - which my mom confirmed they can replace for that cost is technically supposed to cost more than that now to recreate but the jeweler she has said they will honor previous value. USAA will not use my mold and honestly I wouldn't want to send them it- they are recreating off a picture so it will not be a true replica. I've given in to the fact that I'm going to have to eat that cost to get my moms place to make it, which isn't right in my opinion.

Say that I go buy the exact e-ring setting again, it's even a little bit more than we paid as we got a great deal on it but USAA is telling me it's only worth $1k'ish for their recreation (I paid WAY more than that for a halo diamond split shank setting and I'm sorry but finding one online for that price similar to what I had is not realistic). I can have my jeweler find me another diamond or from my searching on here / whiteflash etc. I would pay similar to what I paid for before for our diamond so it wasn't some crazy markup. I told USAA I would be glad to just be reimbursed off our receipts for what we paid but the value is based off their replacement cost for them to do it. I even tried to tell them I'd use them for the diamond search but I wanted to get my setting reimbursed for what I paid so I could buy my previous setting again.

I'm hesitant to upload my appraisal for here but I will say my jeweler detailed the design of my ring, what stones were on my halo, my melee, the split shank sides with types of cut, color, clarity total weights etc and was very thorough. This is part of the problem - from USAA standpoint they have my pictures and the detailed appraisal so they can recreate it. I get that they can get diamonds cheap but as a consumer but I can't so I basically have to give up this control to let them recreate something I may ultimately end up hating (or loving). Once I agree to the diamond/wax mold/CAD and it's made, it's done - no returns no remakes or fixing if something looks off, I'm stuck with it and as the claims person says, "you can sell it if you don't like it." To me that's horrible business. I have been paying premiums on this $11k ring and have my other rings insured under the general personal valuable property thing but yet they evaluate all my jewelry at $6k.

I've had nothing but great experiences with USAA in the past and we've had them forever. I have previously talked them up to everyone I know. I am so shocked by this customer service that I just don't know what to think. I have heard of others getting cashed out for appraised value from them with barely supplying any information so I just feel a bit frustrated. I'm not trying to rip them off at all and ultimately I just want a ring I love as much as my previous one. I searched so long for that one and don't want to settle for eh.

 

[the_mother_thing]

@mymindslost You don’t have to upload your appraisal, though I’m not sure (identifying/privacy details removed) why it’d be a concern unless you may sue USAA for breach of contract. It’s just kind of hard to help and/or suggest if you may be getting treated unfairly without knowing what exactly was on the appraisal, what you paid, and what your policy states. Can you post pictures of the rings that you shared with USAA? Surely there’s no harm in that as people post pics of their jewelry all the time on social media.

Nevertheless, I’m confused by something; and please don’t take my comments as me questioning ‘you’ per se; rather, I’m just really trying to understand the situation/facts to try and help, because something doesn’t seem right about this. USAA isn’t exactly a “Dooey, Cheatum & Howe” ambulance chasing insurance company; and, in the grand scheme of things, I can’t see them hanging their well-regarded reputation on a $5K difference of opinion with one customer.

Sentimentality aside, can you explain what exactly was so ‘unique’ about the diamonds and/or rings that your jeweler says they cost $11K+ to make/remake? You mentioned that all of the women in your family have this same ring and that your mom has the mold, so I assume they weren’t hand-forged rings (which might command a higher premium at purchase). Are you sure your/your mom’s jeweler didn’t charge you an excessive amount for the items at purchase (local jewelers do tend to run a bit higher than online vendors and/or those contracted with the insurance companies)? Do you live in a high-cost area where such items might command some sort of premium?

 

[mymindslost]

I am not claiming really that my rings were something special like usual Pricescope rings but I do think the value is appropriate given what I've seen from looking online to replace with similar. USAA is saying my e-ring, my 2 sapphire diamond bands and my family ring are ALL worth only $6k to recreate it. I can't take that money out to replace even my halo e-ring.

The original heirloom ring was hand forged and later a mold was made from it, it's unique enough that why would an insurance company think they can replicate a ring that has been passed down from generation to generation to the exact specs from a picture of it on my hand? I can't feel good about wearing a ring that isn't the same size, has variations etc than my sisters and other women in the family when it can be replicated exactly.

I also think USAA has treated me well, like I said, so I don't understand why the push back on this situation - that is the thing that baffles me the most. I'm not a dishonest person, I work hard and husband works hard for our stuff so we aren't trying to swindle, get more than value or not compromise some even. These were really big purchases for us and we feel like this is a huge emotional and financial loss.

I'll try to post pictures later and specs from my appraisal from work if I can. I'm a Cardiac ICU nurse and work nights so have to head out.

 

[the_mother_thing]

Okay, it’s coming back to me now. You posted a week or so ago and (IIRC) shared a picture then of your ring. I don’t remember the details you posted then about why you were searching, and not sure why your other posts aren’t visible now to look back/refer to, but I seem to recall you were looking for a diamond around .80 - .90 ct higher in color. I actually still have the details of what I posted for your consideration then saved on my iPad. You had a strict $11K budget including the diamond & ring setting but not the wedding bands; some folks were suggesting combinations of diamond & setting that went over budget, I asked you about sales tax and you noted you lived in a state without it, etc. Not sure what happened to your other thread, but you stated then that you were looking for a ring similar to what you previously had. Why would you be looking for a ‘new’ ring then on the retail market if you really just want your exact same ring made like your mom, sisters, etc.?

 

[MollyMalone]

@the_mother_thing -- there are 4 rings at issue here: the family ring. her e-ring, and 2 sapphire and diamond bands. It's the e-ring, with the halo and paved split shank, that I think is of most concern to the OP right now since USAA is saying they can do the setting for $1K or thereabouts, so that's all that USAA is willing to pay out on the setting (at least that's my understanding of the situation). She's now prepared to pay for the recreation of the family ring by her mother's jeweler without regard to whatever USAA does.

 

[rocks]

I'm shocked by this. USAA has always treated us very fairly. Most recently I lost a xxx .85 fvs1 (nothing visible under 10x) round brilliant stud set in a hand made platinum mounting. I had an enlarged photo. I told them what it would cost for me to replace it. No argument, no negotiation. They sent a check in afew days. As I recall, it was about 18 months ago. Are you sure you paid a fair price?

 

[the_mother_thing]

@the_mother_thing -- there are 4 rings at issue here: the family ring. her e-ring, and 2 sapphire and diamond bands. It's the e-ring, with the halo and paved split shank, that I think is of most concern to the OP right now since USAA is saying they can do the setting for $1K or thereabouts, so that's all that USAA is willing to pay out on the setting (at least that's my understanding of the situation). She's now prepared to pay for the recreation of the family ring by her mother's jeweler without regard to whatever USAA does.

A week or so ago, she posted on here looking for a diamond and ER not from her family jeweler, no mention of USAA offering to recreate the setting, etc. She shared only high level specs of her previous ER & diamond, that she had an $11K budget, and myself & others were searching trying to find something close to what she had. What confuses me is if she was/is so set on having the family ring design (seems that’s her argument with USAA), why were we searching for settings?

Regardless, without documentation (e.g., the appraisal, receipts, communication from USAA, etc.), it’s hard to know exactly what is/is not going on here. My suspicion is that the price paid for the original set was likely far more than it was really worth at that time and that’s why USAA is only offering what they are, coupled with the reasons noted in the thread/posts you linked above about appraisals & how insurance companies do things.

 

[LLJsmom]

@MollyMalone Thanks for that information about the "declared value" detail on an insurance policy. That explains some things about my policy.

@mymindslost I would be very upset if I were you too. I can't believe that they would just ship you any GIA stone that has the same specs as your original ering. That is just terrible.

I would probably take the $6K and run, and run away from USAA's policy, or specify a "declared value" for all your valuable pieces on the new policy. Then at least you can make sure you love your new e-ring. I would not want to be stuck with a ring that I don't love, and given these options (or lack thereof) the chances of that happening are way too high for my comfort.

Good luck to you. I'm crossing my fingers.

 

[GliderPoss]

I think essentially I still don't understand the concept of paying for $11K of insurance if they are only willing to pay/re-create $6K worth...

 

[MollyMalone]

I think essentially I still don't understand the concept of paying for $11K of insurance if they are only willing to pay/re-create $6K worth...

Well, USAA isn't paying consumer retail prices when they handle the replacement. I've not seen @mymindslost 's USAA policy, but it sounds like if you decline that replacement option, they won't write a check for more than what they have calculated it would cost them to replace the item at their below-retail pricing. Jewelry insurance policies typically provide that their coverage is limited to whichever is cheapest: their cost to rebuild/replace or the "face amount" on the policy less any deductible.

USAA has had the reputation here of being more willing to write a check in line with @rocks ' experience (post #13), but it may be that they've changed their MO because of greater numbers of fraudulent claims of late.

@LLJsmom -- I think I goofed; I believe the correct term for coverage whereby you get a check for the amount negotiated/determined at the time the policy is written is "agreed value." My apologies for the confusion

@mymindslost - have you checked your policy to see what provision there is, if any, for any kind of appeal-arbitration in the event of a dispute, e.g., getting a new independent appraiser's report based on the photos, etc. in your first one?

 

[angeljosephy]

A week or so ago, she posted on here looking for a diamond and ER not from her family jeweler, no mention of USAA offering to recreate the setting, etc. She shared only high level specs of her previous ER & diamond, that she had an $11K budget, and myself & others were searching trying to find something close to what she had. What confuses me is if she was/is so set on having the family ring design (seems that’s her argument with USAA), why were we searching for settings?

Regardless, without documentation (e.g., the appraisal, receipts, communication from USAA, etc.), it’s hard to know exactly what is/is not going on here. My suspicion is that the price paid for the original set was likely far more than it was really worth at that time and that’s why USAA is only offering what they are, coupled with the reasons noted in the thread/posts you linked above about appraisals & how insurance companies do things.

I think the family ring is just a band, whereas her diamond ER was the one she was asking advice on?

 

[southernicetea]

Unfortunately, insurance companies will only cover you for what will make you "whole." Similar to a totaled car, the cash replacement value will be the car exactly as it were right before the accident. It won't be the amount you paid for it (unless you have the kind of car insurance that explicitly says this).

You may have paid a certain amount for the ring but the insurance company will only replace the ring to make you whole. To make you whole, it should have the exact same 4C's and setting (assuming your appraisal specifies Simon G setting # or "hand forged 6 prong solitaire by Victor Canera"). If the appraisal is not detailed enough, this is where you can get screwed. I think this is why many people advise folks to have the appraisal specify not just the 4Cs, but "A Cut Above" (or "Brian Gavin Signature" or other super ideal line) diamond.

Wishing you luck, and hopefully this gets resolved soon!

 

[lovedogs]

Well, replacement value is not synonymous with appraisal value. That's why we always encourage folks to not rely on the inflated "in house" appraisals that often accompany a purchase. The only time you can count on getting a check for $X amount is when you have a "declared value" policy which is when you and the insurer have agreed up front on the amount to be paid in the event of loss or damage. Declared value policies aren't common & they cost appreciably more than the standard policy.

Here are some useful comments from PS Trade members, who are independent appraisers -- @denverappraiser and @oldminer -- discussing USAA and appraisals & insurance in general from a thread 2 years ago:
https://www.pricescope.com/community/threads/appraisal-lower-than-expected.232161/#post-4188590

True. I guess I am still a little confused about how they can have you pay for a policy based on 11K but then only say it's worth 4K. For example, I'm paying a certain amount of insurance for a 4K piece, and a different (higher) amount for an 8K piece. If I were to be told that the 8K piece I'm insuring for X amount would only be cashed out for a similar value to the 4K piece I would be super furious.

 

[MollyMalone]

True. I guess I am still a little confused about how they can have you pay for a policy based on 11K but then only say it's worth 4K. For example, I'm paying a certain amount of insurance for a 4K piece, and a different (higher) amount for an 8K piece. If I were to be told that the 8K piece I'm insuring for X amount would only be cashed out for a similar value to the 4K piece I would be super furious.

I imagine your $4K piece would not be "cashed out" at $4K, assuming that USAA can replace it with like kind for less. But, e.g. with Jewelers Mutual, you can get the replacement from the jeweler or diamond vendor from whom you made the original purchase (if the vendor partners with JM for this purpose) or another JM participating vendor/jeweler.

 

[Karl_K]

True. I guess I am still a little confused about how they can have you pay for a policy based on 11K but then only say it's worth 4K.

Its all in the contract, they are not insuring 11k, they are insuring to make them whole with like kind up to 11k.
In this case they are saying their guy can make the like kind for 6k fulfilling the contract so that is what they are offering for cash.

 

[the_mother_thing]

From USAA’s website: https://www.usaa.com/inet/wc/insura...l-property?wa_ref=pri_global_products_ins_vpp

 

[TreeScientist]

Well, replacement value is not synonymous with appraisal value. That's why we always encourage folks to not rely on the inflated "in house" appraisals that often accompany a purchase. The only time you can count on getting a check for $X amount is when you have a "declared value" policy which is when you and the insurer have agreed up front on the amount to be paid in the event of loss or damage. Declared value policies aren't common & they cost appreciably more than the standard policy.

Here are some useful comments from PS Trade members, who are independent appraisers -- @denverappraiser and @oldminer -- discussing USAA and appraisals & insurance in general from a thread 2 years ago:
https://www.pricescope.com/community/threads/appraisal-lower-than-expected.232161/#post-4188590

This. A "Replace with like kind" policy will replace the lost piece with an equivalent stone/setting, but they are obviously not paying retail when they replace it. Retail costs can be anywhere from 25-30%-ish over wholesale if buying online at the lowest priced vendor to 60-100%-ish (or more) if buying from a retail store. Retail stores are notorious for issuing "inflated appraisals" for their overpriced wares, so it's not unreasonable to assume that USAA could replace these pieces that were appraised at $11k at a B&M store for $6k at their wholesale costs. If that's the case, then they obviously are not going to give a person more than $6k in a payout.

Since this is not a "declared value" policy (where you receive a cash payout equal to whatever value is listed on your insurance policy), it would probably be best to let USAA recreate it at their wholesale costs @mymindslost, rather than take a huge hit with a cash payout.

 

[ringo865]

Is there some reason why USAA’s bench couldn’t use your mold to recreate the ring and then return the mold to you?

 

[tyty333]

It would be nice to have pictures of your rings so we all know what we're/you're dealing with.

I have USAA and lost 2 stackers/diamond wedding bands a few years back. Communications were sketchy but I sent them copies of my receipts
and pictures of the rings. They said they would just cash me out for the value I paid for them (which was fine with me). I received the check in a
week or so. Besides the sketchy communications, I was happy with the outcome.

Please post some pictures of your rings so we know what we're dealing with.

 

[the_mother_thing]

Say that I go buy the exact e-ring setting again, it's even a little bit more than we paid as we got a great deal on it but USAA is telling me it's only worth $1k'ish for their recreation (Ipaid WAY more than that for a halo diamond split shank setting and I'm sorry but finding one online for that price similar to what I had is not realistic).

You may not find/be able to buy the exact same setting for $6k, but you are shopping ‘retail’ (including your jeweler), whereas USAA is buying/paying wholesale pricing for a setting and diamonds. They don’t have the mark-up retailers charge us, which is why they can buy/remake it for less; that’s how they are able to insure items for people and not go out of business in the process. And this is why it’s so important to have accurate, uninflated appraisals ... so consumers aren’t paying more for something they likely will never get/benefit from.

I realize that doesn’t soften the blow for you in terms of what you paid, feel you should get, or addresses the sentimentality associated with your rings (I get it), but reading my own USAA VPP policy and the details on their website around the replacement process, it does not seem they are doing anything unfair/unethical or out of line with industry standards, IMO.

 

[mymindslost]

So, now I'm regretting posting this and I really wish I hadn't but I feel like I can't just not respond either.

My previous thread I was asking for advice because at that time I thought we were going to be just receiving the value for my rings cashed out and I was trying to figure out what the best way to replace my e-ring specifically was. Nearly a month went by from the time we made the claim before they told us they wouldn't replace off our receipts/appraisals etc and told us about their replication process. They did not mention any of that up front besides saying that we had the choice to have them replicate or us cash out and replace. I had looked into custom creating the same style of ring with some of the jewelers mentioned here on Pricescope because I wasn't sure what the dollar comparison was compared to my current ring. I did mention in that other thread that I could also go with my same setting from my local jeweler I had gotten it previously from. My ring was only 2 years old and to my surprise he had another available. I was trying to stick with a similar stone size and quality even. I don't know how by shopping around for recreating that ring would be a negative thing? I just wanted to find out my options and opinions from others so that's why I had originally posted.

My previous ring specs from appraisal:
0.91 ct E color, SI1. Cushion shape halo surround with twelve round full cut melee, diamonds equal approx. 0.60ct. Flush diamonds set down the shank, twelve diamonds on each side, totaling 24 diamonds equaling approx. 0.34 ct. together. Thirty six diamonds equal approx. 0.94 ct together of G/H SI1 grades. Total ring approx. weight is 1.85 ct diamond. It talks about the diamond dimensions and some other details to describe the ring.

My family ring (a right hand ring) I've never wanted to recreate with anyone but the jeweler that did my other family members. We have the mold so to me we just replicate off that. I just had hoped it would be valued for by USAA for the cost it is for me to do that - rather than what they think they can duplicate it themselves for because in my eyes you don't duplicate a family heirloom where every ring is the same. It's a $200 difference from their value to replicate and what my moms jeweler can do it for so not even that big of a deal in the long run perhaps but $200 is $200. USAA would not agree to use my mold.

My sapphire diamond bands I could go either way - I know it costs more than what USAA wants to pay out to buy them. I have shopped around for the same rings, even at mall stores like Zales or say Shane company (cheaper quality than mine were) and they still cost more than USAA will pay out so no choice but to replicate.

I think the key thing I've learned through this now looking at it is that USAA has in house gemologists that they can use to recreate things at a lower cost, they can get diamonds sourced at a lower cost. Therefor they are saying they can replicate for a certain value amount. I did not know this was their process and perhaps I should have been better informed but I seriously had no clue they would have such low values for my property. I have no choice but to let them replicate because I can't buy new rings of equivalent value with the pay outs they want to give me. I don't know why others can just send pictures and get checks issued on their items or others just get checks for items detailed in an appraisal but no pictures. The claims adjuster has said numerous times that it's because my appraisal is so detailed and my pictures were so clear that they can replicate. I think if I had say a custom ring with a special diamond or a specific type that maybe they can't recreate it would be different. My jeweler does not carry run of the mill items though either, he takes trips overseas a few times a year to diamond shop for clients. My in-laws have used him for years as well and with very high quality expensive items similar to those on this board. So I find it slightly upsetting that I'm getting the impression that people think my rings must be cheap or junk and not worth much or that I'm doing something wrong to get this type of response from USAA. I'm really upset, hurt, have been crying a ton over this, stressed out, not sleeping etc and it seems like coming here for advice was perhaps a bad idea rather than helpful.

I'm attaching my ring picture, (I do realize now that I've been on pricescope that it could be set a bit better because there is a small gap between stone/halo but I don't think it looks like some cheap ring either). I just sort feel attacked a bit and emotional about all of this. I obviously have learned a ton about this idea of USAA and "replacing with equal value" vs actually doing it based on my appraisals or what I paid or even what it would cost for me to replace. I wish I knew they only valued all my property at 6k so my premiums weren't based on a higher value. I guess I could get 2-3 appraisals in the future to guarantee that I cover myself better too, I don't know.

I am supposed to receive CAD's in the upcoming days and the GIA cert before they order the diamond. I'm not sure how comfortable I feel saying they look good, was hoping for help here with that but this thread really makes me feel pretty awful.

And I forgot to mention that my representative told me, "If you don't like the rings we replicate you can do whatever with them and sell them." I'm sorry but I just took that really hard because these rings aren't just items to me, they mean SO much more than that to me.

link to rings - one is a video even. https://photos.app.goo.gl/83SfvqYqqs4DpRY56
(I'm a size 7 for reference) Hopefully that works.

I would've posted a reply/answered questions sooner but I barely left my patient all night, and took a lunch finally at 4am.

 

[lovedogs]

I'm sorry you feel attacked, that certainly wasn't my (or anyone elses) intention! I was personally just trying to understand how this possibly happened, because it makes me worry about my own policy !!


Can you post the Gia cert for your center Stone? That is likely the most expensive part of the ring, so just trying to understand why usaa thinks they can recreate it all for 6k.

 

[bludiva]

I'm sorry you're going through this. Til now I've only heard good things about USAA. Im frankly shocked they'd gwt into the jewelry making business to save money on their claims. Unfortunately most insurance companies make money on both ends. Health insurance is a good example where you can't get the same rate if you pay cash directly to the provider. You have to insure at a retail cost and the insurer is only willing to pay wholesale to satisfy your claim. I hope they can come to a better sokution and that you can find another insurer in the future that will work directly with your jeweler of choice.