Jewelry Insurance (Homeowner Rider Vs Jewelers Mutual)

[manhong]

I recently (in the last week) proposed to my girlfriend of 4 1/2 years with a lovely e-ring that I purchased from Whiteflash. I purchased it after doing months of research here on Pricescope and the information on here was extremely helpful and got me a great deal.

I now have another dilemma. I am considering buying insurance for the ring either through my homeowners insurance (AAA) or via Jewelers Mutual. Has anyone on here used Jewelers Mutual and/or their homeowner's insurance to file an insurance claim? If so, what was your experience? Has anyone had an appraisal done on their e-ring and compared it to the letter of verification from Whiteflash? If so, how did the estimated retail replacement value compare?

I'm considering having another appraisal done in order to get the insurance premium down. I feel that the value provided by Whiteflash was slightly inflated. I know that the retail replacement value will be higher than what I paid for it, but the Whiteflash estimate was about 50% higher than what I paid for it and I don't think that is realistic.

 

[iluvdiamonds2]

From what I remember, the H/O policy doesn't cover everything - loss, etc. for diamonds (?) - plus i believe they said your insurance would go up if u file a claim or something.

I just went w/ JM and that way you know u r covered. http://www.jewelersmutual.com/

 

[Tacori E-ring]

I thought I lost my e-ring and spoke with JM (my insurance) and was disappointed by how strict they are. If you have a simple ring and you know you would want to replace it with the same ring, then JM would work for you. Mine is very unique and it was going to be a headache to find a replacement that matched the description on my policy.

 

[mrg1]

I have a scheduled rider from Erie Insurance that costs me 1% of the ring's appraised value. I pay it yearly along with my homeowners insurance. My jeweler said that this is an incredible rate, probably the lowest in the business.

I recently had my ring stolen and had to test the replacement policy. Erie wanted me to take my appraisal to a local jeweler who was to determine if my ring was really worth the appraisal value. However, my jeweler had custom-designed the ring AND copywrited the design (his logo was stamped into the ring), so no one could provide a comp on a ring that only he could produce. Because of that, I didn't have to get the appraisal value verified by someone who couldn't reproduce the ring. I strongly recommend that anyone who goes custom requests that the jeweler include similar language in their appraisal.

 

[manhong]

Thanks everyone with all of your responses. I decided to go with Jewelers Mutual because my homeowner's insurance does not allow me to select the jeweler of my choice or insure it when my fiancee is wearing it.

 

[chrono]

I thought I lost my e-ring and spoke with JM (my insurance) and was disappointed by how strict they are. If you have a simple ring and you know you would want to replace it with the same ring, then JM would work for you. Mine is very unique and it was going to be a headache to find a replacement that matched the description on my policy.

Tacori,
I thought this would be a good thing? I would want my replacement to be as close to the original as possible, and not receive something subpar. If not, perhaps the cash out policy might suit you better?