Shipping an engagement ring to get fixed. Insured but...

[neoshi]

So I need to ship my fiance's engagement ring back to the jeweler to get the stone reset on a new setting. The value of the ring is over $10k. It is insured by State Farm at this point for everything. Do I still need to buy insurance with the shipping company? Or is that just paying double for the same coverage?

 

[diamondseeker2006]

Yes, send it USPS Registered Mail and insure.

 

[Gypsy]

Nope. Pay for the insurance. And USPS is the only one who will insure jewelry. As DS said Registered Mail is the right service.

 

[neoshi]

Just to confirm... as the responses are a bit unclear since I've asked two questions, but seem to only get one yes or no response...

On top of the State Farm insurance for all types of losses, I will need to send through USPS registered and buy additional insurance.

Is this correct?

 

[yssie]

Just to confirm... as the responses are a bit unclear since I've asked two questions, but seem to only get one yes or no response...

On top of the State Farm insurance for all types of losses, I will need to send through USPS registered and buy additional insurance.

Is this correct?

-Does SF cover the stone for shipping?
-Does SF cover the stone for setting, including the in-between period when it's loose?

I dislike USPS registered - it's definitely the safest way to send, but I drive myself crazy waiting. *You*, a private party, can't insure jewellery through UPS/FedEx but jewellers will have business policies - can your jeweller send you a FedEx overnight return label? If not then yes, get the extra insurance - it won't cost much and better to CYA and minimize potential for finger-pointing should something unfortunate happen. Don't pay extra for priority though - all registered mail goes by pigeon post no matter what speed you pay for, but they don't always tell you that at the post office!

 

[distracts]

Don't pay extra for priority though - all registered mail goes by pigeon post no matter what speed you pay for, but they don't always tell you that at the post office!

My post office manager likes to say that getting priority registered doesn't make it go any faster, but they sure do appreciate the extra money.

 

[stargurl78]

Nope. Pay for the insurance. And USPS is the only one who will insure jewelry. As DS said Registered Mail is the right service.

So if you ship a high-value jewelry item through FedEx or UPS they won't insure it? So if its lost/stolen, you're screwed?

 

[denverappraiser]

Nope. Pay for the insurance. And USPS is the only one who will insure jewelry. As DS said Registered Mail is the right service.

So if you ship a high-value jewelry item through FedEx or UPS they won't insure it? So if its lost/stolen, you're screwed?

FedEx and UPS insurance only covers up to some very low limits. Jewelers and appraisers who use these carriers have 3rd party insurance to cover it. State Farm MAY include this sort of coverage in your policy. Ask your agent. That's what they're for.

I agree with the advice above to use USPS registered mail if you're sending jewelry from a US address to a US address.

 

[oldminer]

You can insure a UPS overnight package up to $50,000 for a piece of jewelry, but you cannot ship an unset stone UPS, only a finished piece of jewelry. Why? They won't way and I have asked. Jewelers get to ship unset stones with UPS since we can buy outside insurance coverage, but UPS will not offer this to anyone else. I bet there is a great story behind this strange situation.

Fed-Ex does not handle insurance on any jewelry or gemstone. Again, jewelers can arrange with private carriers to ship insured via Fed-Ex.

 

[plummiecat]

I just purchased a policy with JM about a week ago for a $50k diamond. I told the rep on the phone that I needed to ship the ring back to the jeweler for a repair and she said it would be covered. Luckily the ring was received safely by the jeweler. If I ever decide to ship the ring again, I plan to email JM before shipping so I will have it in writing from them that the item is covered.