Insurance - wf apprisal question

[Icce]

For anyone who bought from whiteflash. You know that seperate GIA apprisal they give you for insurance purposes. Does that have enough detail or do I need a seperate apprisal with more information for my stone? It does state "A cut Above" and H&A....but not pictures etc and it is not that long but does state a retail value in American dollars. My mom sent them that paper and they were happy to use it but I am calling them tommorrow as I want more information in there I think. Can I send the AGS papers and ideal scope etc or? I read way too many horror stories to trust they will really replace it with another "A cut above" stone....I have that brand (from WF of corse) and I want that brand if somthing goes wrong but how to I make sure if it.

Anyone know a really good trustworthy appriser in Toronto.

 

[beach]

Get another independant apprasial. The WF appraisal is not thorough enough for your needs because your stone is an ACA. I suggest Rich Sherwood http://www.sarasotagemlab.com/
I send him stones in the mail and he has a quick turnaround. He just completed my appraisal and it is very through and very specific.....
If you do not get an appraisal that shows how nice your ACA is the insurance company will say it is nothing special and try and stick you with a "comparable" stone with similar general specs like color, clarity etc....... You want an appraisal that does not allow your insurance company any wiggle room to screw you....

 

[diamondseeker2006]

I used the GIA or AGS lab certificate and the sales receipt. You will overinsure the ring if you use the "insurance valuation". You do need to talk to the insurance company to find out how they handle claims. Mine just sends me a check and I can replace the stone wherever I want. I did not need an independent appraisal.

 

[deegee]

I used the Verification Report that was included with my Whiteflash purchase (the report with the description and retail value), along with the AGS document. I chipped my stone from Whiteflash, and it was replaced by Jewelers Mutual with another ACA diamond, so the documentation I originally supplied was sufficient for replacement purposes.

 

[diamondseeker2006]

Date: 12/29/2008 7:39:43 PM
Author: deegee
I used the Verification Report that was included with my Whiteflash purchase (the report with the description and retail value), along with the AGS document. I chipped my stone from Whiteflash, and it was replaced by Jewelers Mutual with another ACA diamond, so the documentation I originally supplied was sufficient for replacement purposes.

You''re paying premiums that are too high if you use the value on the verification report. You should use the price you paid with periodic adjustments for price increases. For example, if the stone costs $5000 and it is lost, then LM will not have to pay more than $5000 to replace it at WF (often they get a better deal which would be less than what a regular customer pays). So there is no point at all to pay for $8000 in value if the stone only costs $5000. I am not sure about JM, but Chubb allows me to increase the value of my jewelry without an extra appraisal just to cover normal appreciation.

 

[deegee]

I''ll check into that, Diamondseeker. The stone is loose in the setting and is getting ready for a trip back to WF, and I might have it set in something different altogether. Good time to look at the insurance. (I don''t mean to threadjack!)

 

[Icce]

Deegee, sorry just to clarify you got them to replace it with another stone from WF?

 

[deegee]

Yes, since it was a branded stone from a specific jeweler, I was allowed to pick another stone of similar value from Whiteflash. They basically told me how much I could spend and I found one in the Whiteflash ACA inventory. My new stone is actually a little larger (not much, from 1.22 to 1.32) and a little better in clarity, so I''m happy! I sent my ring with the chipped stone back to WF and they took care of the whole transaction with Jewelers Mutual and sent my ring back to me with my beautiful new stone.

 

[Icce]

K, thanks. I wanted to know if that worked for anyone as I read alot of horror stories where they can''t replace their brandname I guess you can call it. I just wanted to find out if it was possible to make that stand right from the begining and for you it was (since i mean the inscription aca is like a brandname clothing tag etc)... Branded so I will enter an agreement to get another stone same brand or the cash that same brand would cost if the unfortunate was to happen and then at least I can wear it with peace of mind! I know I am such a worrier but that just me...always was and always will be.


Though I must say picking out diamonds is stressful, so I hope to never have to replace it, EVER!

thanks for the info all

 

[diamondseeker2006]

It definitely depends on the particular insurance policy.