The Search is Over

[Mikesgirl]

Last spring I lost my engagement ring (after 10 years). After much struggle with the insurance company, we agreed on a settlement that was midway between the original purchase price and the insured amount. They tried to pass off some terrible stones from a local brick and mortar, so I told them to send me a check and I'd find my own replacement.
The search began. I found Pricescope early on and relied heavily on HCA in my initial search. After much the same time and process I'm sure you've all gone through, I came upon Blue Nile. I was very comfortable with their search engine, and research indicated a happy client base, albeit they had investors and therefore possibly higher prices. Still, I was more comfortable on their site than any other I'd found, and was also gratified by the ease with which I could get a REAL LIVE PERSON on the phone when I had a question or concern.
After running many, many .7 carat stones (the size of my original) through the HCA and the AGA advisors, I found this little beauty. It is AGS certified and the stats are:

.701 carats
AGS Cut Grade Ideal 000
Color G
Clarity VS2
Dimensions 5.75x5.77x3.49
Table 57%
Depth 60.6
34.2 degree crown
40.6 degree pavilion
pointed culet

HCA .7 (.7 on the GCAL stats as well)
AGA 1B (1A if the stats on the GCAL report are used)

I am soooo happy with it, can't stop admiring it's sparkle in every kind of light. Here are a few pics.

 

[Mikesgirl]

pic #2

 

[Mikesgirl]

pic #3

 

[Mikesgirl]

pic #4

 

[Mikesgirl]

Here's a tiny bit of the color it flashes. Unfortunately, all of these pictures are coming up darker on this site than on my computer. Ah, well...

 

[Mikesgirl]

I chose a setting that would protect the diamond since I am left handed and very active. I seldom wore my old e ring because it was high and fragile. This is much of the reason it was lost. This one will be worn, and worn, and worn . . . Thanks, Blue Nile and everyone here at Pricescope!

 

[Colored Gemstone Nut]

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On 9/8/2003 4:32:36 PM Mikesgirl wrote:

Here's a side view. I chose a setting that would protect the diamond since I am left handed and very active. I seldom wore my old e ring because it was high and fragile. This is much of the reason it was lost. This one will be worn, and worn, and worn . . . Thanks, Blue Nile and everyone here at Pricescope!

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Mikesgirl,

Congratulations..I love the setting. Everything came out beautiful..

-Josh RIoux
Sitka, Alaska

 

[Mikesgirl]

Thanks, Josh. It'll take a while for it to feel right . . . I still miss my original ring. It's weird - sharing the excitement of a new ring is much harder when there isn't a new engagement, too. It just feels like straight up bragging. Guess this is just another reason I enjoy this forum - show & tell, not to mention all the beautiful rings to see and stories to read.

 

[fire&ice]

Beautiful setting. Love the gold & diamonds on the side combo!

Did your insurance company give you much trouble w/ the cash settlement?

 

[diamondlil]

Just curious about which insurance company you use?

I've heard a lot of stories about insurance companies trying to replace a diamond with one "they" think is equal to the one being replaced. That would be nearly impossible especially on some of the fancy cuts. It's such a personal choice when it comes to L/W ratios. Then there is also the issue of how much to insure a ring for if they are only going to "replace" it based on the actual specs. You surely would not want to pay the premium on an over-appraised diamond.

When I found out my old homeowner's insurance company used this "replacement" method, I freaked and switched to Chubb. I've never actually made a claim, but I sure feel less worry wearing my ring.

Diamondlil

 

[Mikesgirl]

Thanks for the positive feedback - I was worried the setting would be too much, but I'm pleased with it.

I have my homeowner's with Erie Insurance, which is very highly rated and has been really reliable in the past. The original ring was purchased from a friend of my husband's at her wholesale (almost) price and we insured it for the retail price. It was not certified and we insured based on the jeweler's appraisal. Ignorant mistake, but the insurance company didn't balk over our valuation and gladly accepted premiums based on that.

We understood it to be replacement value, not realizing that they would decide on what that value is by having their brick and mortar tell them what it would cost for them to replace it. The brick and mortar had a website and I checked out their stones, all IGA, but most with significant issues - either of proportion or extra facets or very thin or thick girdles (usually some combination). They offered us $2,100 - it was insured for $4,450 and our purchase price was $2,800! I was flabberghasted that they didn't even offer our original virtually wholesale price on a 10 year old purchase!

I gave them a lot of grief and the name of a couple of more reputable dealers in the area and they came back with $3,486. I knew I could comfortably replace the ring online for this amount, so I accepted it. Since I bought from Blue Nile, Chubb was the obvious choice, since the do replacement through Blue Nile and I have the specs documented. I'm considering a trip to Philadelphia (only two hours away) to have David Atlas's team do an appraisal so the quality is incontrovertible, though I hope I'll never have to make another claim. Maybe the extra appraisal is overkill but once bitten, twice shy. All in all a long and frustrating experience, but with a very good outcome.

 

[diamondlil]

Mikesgirl,
I'm glad to hear it all finally worked out for you. Your story makes me even more confident about my decision to change to CHUBB. I have a 2 ct stone, and I would just die if my insurance company tried to give me what they thought was a replacement. And I would be really annoyed if they wanted to give me a check for less than what I had been paying a premium on. I mean, isn't that the point?

Thanks for sharing your story. I hope I never have to make a claim, but if I do, I feel confident that CHUBB will take care of me fairly.

Diamondlil