Ring Question????

FH got it appraised by some lady in the Rex Corp building near Hofstra... but I haven't gotten it insured yet cause I'm a bad fiancee.

Fh had the ring designed in the diamond district and they didn't offer him the option of insuring it through them and my biggest problem is that I don't have renter's or homeowner's insurance (I should have renter's insurance, thagt's another story) so I don't know how to go about getting the ring insured on it's own.

You can add the ring as a rider on your renter's insurance meaning it would be covered as it's own entity for the cost to repalce THAT ring at the time you need to replaced. It wouldn't be a part of the conglomeration of all the other crap you own overed byt he renter's policy.

I have to look at my paperwork when I get home, I can give you the lady's name in RexCorp Plaza (byt he Colliseum) if you want to get it appraised. FH loved the lady, said she was wonderful.

that would be great I really appreciate it!!

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Posted by cavvento

The jeweler we bought it from gave us the appraisal, so we did not have to take it elsewhere for that. But I called my insurance company the day after I got it to insure it. It was easy, she was able to do it over the phone once I faxed the appraisal over. You will need FH's SSN though - even though the homeowners policy is in my name, his had to go on that.

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Isn't half the purpose of the appraisal to make sure you're getting what you're supposed to be getting by an independent party?

When FH bought my diamond, he had it set in the band he helped the jeweler design and when he went to have it appraised the first time, the appraiser told him the diamond didn't match the GIA certificate! Turns out the jeweler (who was very honest, thank goodness) had an employee who mixed up the diamonds and we never would have known but for the independent appraisal. the difference in value was $2K!! My diamond is flawless and the one that was originally set in my band was DEF not!

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Posted by JLWSJC

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Posted by cavvento

The jeweler we bought it from gave us the appraisal, so we did not have to take it elsewhere for that. But I called my insurance company the day after I got it to insure it. It was easy, she was able to do it over the phone once I faxed the appraisal over. You will need FH's SSN though - even though the homeowners policy is in my name, his had to go on that.

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Isn't half the purpose of the appraisal to make sure you're getting what you're supposed to be getting by an independent party?

When FH bought my diamond, he had it set in the band he helped the jeweler design and when he went to have it appraised the first time, the appraiser told him the diamond didn't match the GIA certificate! Turns out the jeweler (who was very honest, thank goodness) had an employee who mixed up the diamonds and we never would have known but for the independent appraisal. the difference in value was $2K!! My diamond is flawless and the one that was originally set in my band was DEF not!

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o wow, thank God the jeweler was honest!!!

FH had the diamond and ring appraised by the jeweler (the center stone is a family heirloom, so we only had it appraised by the jeweler)
as far as insurance - we added it to our renters ins and it was very easy and reasonably priced to add

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Posted by bluj786

Appraisals and GIA reports are not the same thing. GIA is from the company that the diamond dealer gets it from, you would need an appraiser to get it insured. We have an independent appraiser at my store if you wanna come in and use him let me know!

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I know... but the appraiser uses the GIA report to verify the diamond in your hand is the diamnod you own a certificate for.

So when the appraisal was done on the diamond, the measurements and such on the GIA cert did not matched... so FH di dnot possess the GIA certified diamond he paid for.
I wasn't saying they were the same thing.

I got mine appraised at the Universal Gemological Laboratory in NYC. They are independent appraisers meaning they don't buy or sell diamonds so their appraisals are not inflated or deflated. They are also GIA certified

www.UGLUSA.com

Dennis Abramov did my appraisal and he was very good. I brought my GIA report with me but didn't let him see it before he did his own appraisal so I could 'test' him on the diamond's attributes. Hee hee.

He was spot on! The only thing he missed was the clarity. He thought it was VS1 instead of VVS-2. Maybe I should've cleaned my ring?

My ring is tacked on with our homeowner's insurance. FH says 'I never seem to stop paying for your ring!!'

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Posted by JLWSJC

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Posted by bluj786

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I know... but the appraiser uses the GIA report to verify the diamond in your hand is the diamnod you own a certificate for.

So when the appraisal was done on the diamond, the measurements and such on the GIA cert did not matched... so FH di dnot possess the GIA certified diamond he paid for.
I wasn't saying they were the same thing.

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Yeah, basically appraisers (independent especially) confirm you got what you paid for and insurers need proof your ring is worth the amount it's being insured for.

Good thing your jeweler gave you the correct diamond right away! I am so paranoid about shady jewelers!!

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Posted by mybabylovesmoi

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Posted by JLWSJC

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Posted by bluj786

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I know... but the appraiser uses the GIA report to verify the diamond in your hand is the diamnod you own a certificate for.

So when the appraisal was done on the diamond, the measurements and such on the GIA cert did not matched... so FH di dnot possess the GIA certified diamond he paid for.
I wasn't saying they were the same thing.

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Yeah, basically appraisers (independent especially) confirm you got what you paid for and insurers need proof your ring is worth the amount it's being insured for.

Good thing your jeweler gave you the correct diamond right away! I am so paranoid about shady jewelers!!

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Yeah, it was an honest, yet irresponsible, mistake. FH said the owner, whome he dealt with originally, was SUPER sorry and sweating bullets when he went int here and he had to review his WHOL inventory but he found the right diamond the next day.

Trust me, with the kind of money ont heline, there would have been a lawsuit otherwise and this guy knew that!

FH got a discount for the appraisal b/c he was referred to the jeweler by his AUTO insurance co (Statefarm) the insurance policy is like $68 for the year.

BTW i picked the ring out at Macy's during their jewerly sale and it is IGA certified. I also registered it with them for a sm fee.

I went to the Jewelry Judge in Garden City. He was great. My ring never left my sight and he explains every single detail that he is looking for in the ring. I also got my ring insured and did it through jewelers mutual and they too were great. FM me if you want more info.

HTH



P.S. FH had is appraised by the Jeweler where he bought the ring, but we wanted to be very certain so that is why we had a second appraisal.

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Posted by JLWSJC

FH got it appraised by some lady in the Rex Corp building near Hofstra... but I haven't gotten it insured yet cause I'm a bad fiancee.

Fh had the ring designed in the diamond district and they didn't offer him the option of insuring it through them and my biggest problem is that I don't have renter's or homeowner's insurance (I should have renter's insurance, thagt's another story) so I don't know how to go about getting the ring insured on it's own.

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You sound exactly like me!!! We have been renting for 4 years and we still don't have insurance!

FH got my ring appraised but I haven't even seen it, and I keep procrastinating calling to insure it!

Arghh but yes you do need an appraisal I am pretty sure!