WARNING your ring Insurance....

BEWARE ALL OF YOU.

There is NO such thing as 'all risk' or all covered in insurance. It's terrible that people still say that. There's a WHOLE section called exclusions and another called conditions.

If you're nervous, call your 'people' and put it to them plainly..'Look a friend just lost her ring with another insurance company while she was on vacation, being engaged and nervous can you please tell me would my policy cover a lost ring? I heard something from someone that only fire, theft and destruction are covered... is that true?'

Mysterious Disappearance is normally excluded!!!

Just trying to save heartache.

I called earlier today...and was reassured that my policy covers any loss, anywhere, for any reason - including simply 'losing it'.

But mine is a specific jewelry policy - and I agree that everyone should confirm their coverage.

I work for a surplus Lines INsurance Company...we write a lot of jewelry floatersd, Chubb Homeowners Policies, etc....I see these policies all the time...

There are exclusions, but your Insurance Broker should be explaining each one to you, especially when you are purchasing this type of insurance....there are a lot of exclusions that are mandatory, as well as a lot of other ones that are added,....you can tell them what you want, what you do not want...they can remove some exclusions is you want, but they charge a little more...or they will boost your deductible if you have one....tell your broker EXACTLY what you want, and thats the only way they can scout for Quotes....if you have a Jewelry policy, more than likely it will be coverinfg your JEWELRY....Definitely read your policy when it comes in to understand it, and if you do nto, CALL YOUR BROKER...thats the most important..they have to know what they are selling you and ahve to give you all the info, and quote the exact way it is written.....

Hope this Helps!!

Well..
A) you wear a ring.. so you should be able to feel it tugged off .. hence stolen.

B) if it's excessively loose (all rings are loose at one point - weather, water retention...etc) and you do NOT fix it and it slips off 'somewhere' its lost or mysteriously gone.

C) You leave it on a sink (for whatever reasons) and take a shower at a public place. Come back, its gone.. you better report it stolen.

If all else fails, a police report usually says lost or stolen item. If you wanted 'stolen' you usually have to prove it's stolen. Such as, that guy or see the broken lock.

As an insured (Person with a policy) you are required to care for your item in a normal, cautious manner.

The golden rule is: Prudent Person. Meaning what would a normal average prudent person ahve done in th same situtation. This is where it gets gray. Some insurance companies figure 'yeah I would have done the same.. pay it' others figure 'If i use mysterious disappearance, I don't have to pay a claim unless they want to sue us for it.'

People don't realize you can sue your insurance company and if you win THEY pay the legal costs.

Just FYI

Bottom line.
Ask questions.
Get answers, feel better.

Its a mean world out there, don't get shortchanged because you didn't ask.

I sure am glad you joined these boards..you sure have helped me alot!!!Thanks!!

i rea read my policy and it covers mysterious dissapearance