ER ques re: homeowners insurance vs. Travel''s Ins Co

[krisvrn]

Question: I have my engagement ring currently insuranced through my homeowner''s policy through Allstate insurance. Has anyone dealt with them before (diamond lost, stolen, etc) Did they replace your diamond with the replacement cost or actual value of stated appraisal.

I just received a quote from Travel''s insurance and they will insure my ring for the actual value stated on the appraisal. It seems like it would be better to go with them (Travel''s)

2nd question: is there any reason or benefit to have my ring insured by both - home owners insurance (allstate) and Travel''s insurance

Thank you in advance!

 

[krispi]

I just wanted to say that I had a good experience with Traveler''s. When I was married, I had my engagement ring covered as a rider on my homeowner''s insurance policy. In the process of going through the divorce and selling the house, my engagement ring turned up missing. There were so many people coming and going in my house at that point, I don''t know exactly what happened to it. I also wasn''t wearing it every day, so I don''t know how long it was missing before I noticed it. I had it stored in the bathroom along with all my other jewelry, and it was the only thing missing - even my wedding band was still there - so I do feel it was deliberate. I called Traveler''s and reported it to them as missing/stolen as soon as I noticed. They asked me to fax them a copy of the appraisal, and they sent me a check for the full appraisal amount. They didn''t require me to file a police report, and they didn''t take out my deductible. The guy that I dealt with was very nice and helpful. It''s been a few years since this happened, but I also remember the check arriving fairly quickly. I would definitely recommend them. Also, since they sent me a check for the full appraisal with no hassle, I don''t know why you''d need to pay for another policy - just my opinion.

 

[krisvrn]

Thanks for your reply.

 

[gemgirl]

Just as another option- I have my treasures insured with Chubb and I know some other PSers do too. Chubb has a long standing fine reputation for customer service and they WILL send you a check for the full appraised value of your piece, unlike some other insurance companies that will send you a new ring instead of money.

 

[mrssalvo]

i posted a response in the thread you started over in rocky talky