Yet another question re insurance

[Joolz]

I have searched other threads and came up empty, but do apologize if I am redundant to other posters' questions.

I will be able to get coverage for my new e-ring upgrade through Chubb, which seems to have a solid policy. However, they will not insure the ring while it is being set. It seems that the only insurer for while it is being set on is JM, but they only offer full year policies and I could no insure it short-term during the setting process.

It seems like my options here are 1) get a policy with Chubb and be uninsured during the setting process or 2) go with JM. Does that sound right? I am very surprised that the jewelers don't have insurance to cover any potential damage to the stones while setting?

 

[mrssalvo]

Some Jewelers will insure a stone while it's being set, but not all. Usually if you are buying the stone and setting from the same place the vendor does cover it. Some folks buy a cheap temp setting from the vendor they buy the stone from a nd insure it as a ring that way. Then the stone should be covered during the reset into a new setting but your want to verify with your insurance company what they will cover. I'd you are getting a designer setting than the designers usually do carry insurance to cover stones while they are in their care. The next best thing would to just do a year with JM and then switch to Chubb later on....

 

[LibbyLA]

Joolz,

You can probably cancel the JM policy in less than a year. I've been adding stuff and taking stuff off and changing whether it's in the safe deposit box or not like crazy and they handle it.

It's worth checking into, at least.

liz

 

[MichelleCarmen]

I'd go with the JM to be on the safe side. Chances the diamond will chip are slim and everyone always thinks it will never happen to them, but before you know it, a stone is chipped or lost. Best to make sure you have covered all your bases.