I don''t qualify for Chubb - is that bad?

[hoofbeats95]

I posted an insurance thread a couple days ago. I am trying to insure my ering. I will pick it up on Saturday. I called Touchstone today. My ring has to have a value of $10K to qualify for a chubb. It isn't that expensive! So my option with them is the repair and replace policy. They say they will work with Whiteflash to replace the stone should something happen. The setting came somewhere else, but they said they would ask WF to replace that too. Which would be fine with me! So is that safe? They seemed really nice and they said they would work with my jeweler. The difference in insurance of the cost vs. the retail value (on the LOV) is $14 a year. So I would go with the higher value so I'm sure I could replace my stone should something happen. And ideally I'd get the ring appraised sometime in the next year. A true appraisal that is. I haven't called Jeweler's Mutual yet. Though I know they are a repair and replace as well. So not much difference I assume. The guy at Touchstone was really nice. I am waiting for a call from my FI's homeowner's company as well. He seems to think they will offer a cash value policy. So that is one of the questions I will ask them. Any advice from here is appreciated. Thanks!

I just spoke to JM. They were also very nice. However they want an appraisal for the piece as one. Touchstone will take the LOV from WF and the paperwork I get on the setting and add the cost together. I might be able to get my jewlery store to give me paperwork on the whole piece. But I'll have to find that out on Saturday. I really don't want to send this ring off to an appraiser. I haven't been able to find a local one through the PS resource link. Is there any other way to find a good appraiser. I can't imagine in the St Louis area that there isn't someone I could take it to and then wait for the ring. Once I finally get this baby I don't want to let it go. And as you might have read in my other posts, this is sort of ring #3 and it sucks being engaged without the ring. I'm sick of the questions. Advice?

 

[CharmyPoo]

See the thread about St Louis Appraisers
https://www.pricescope.com/community/threads/need-an-independent-appraiser-in-st-louis.60316/

 

[neatfreak]

Who is selling you the setting and setting the stone? An "appraisal" from them stating what the stone is, the certificate number, and what the setting is will suffice for JM. You don''t need to pay for an appraisal.

 

[hoofbeats95]

The stone is WF. The setting is a local B&M store. I think for touchstone all I need is the LOV from WF and a statement from the store on the setting. But JM wants an appraisal for the whole piece. I just think they can be added together. I''m leaning towards touchstone because it seems like less of a headache and like things will go smoother. Unless I''m misunderstanding something.

The lady at my insurance company (homeowner''s) wasn''t very knowledgable so I''m not going through them. I''d rather stick with a company that handles only jewelry.