Question about jewelry insurance claim

[caffeinedreams]

My engagement/wedding ring is missing. I've torn the house apart from top to bottom, and with a terribly sad feeling I'm coming to the conclusion that it is gone. We believe it was accidently thrown out, and the trash has long since gone to the landfill. I'm so sad and upset about this, and I'm not planning to stop looking, but other than continuing the search, I'm not sure what my next step should be.

We have a rider for it on our homeowner's policy that covers it 100%, but I'm trying to figure out whether I should make a claim at all. I did a search on here and see reference made to being dropped by your insurance for similar claims. I don't want to be dropped, so I'm sort of afraid to make the claim. At the same time, I feel like this is exactly why we insured it in the first place, and it was rather silly to pay the premiums all these years to not use it when we need it. We could buy another on our own, but we don't have that kind of money to spend on a ring right now. We've never had a claim before.

I feel heartsick and really don't want a replacement, I want my original, but if I can't find it, I also don't want to go without a ring. On the other hand, I don't want to end up ruining our currently good, reasonably priced insurance situation.

Any opinions or experience with this? Thank you.

[mamato1]

I don't know for sure, but I would guess that the worst thing that would probably happen is your premiums going up. Assuming that you have not had to make any claims in the past and pay your bill on time I think that they would still consider you a good risk.

I am so sorry about your ring. That is the pits!

Chris

Mama to Brendan (aka Boomer) 01/04


http://b3.lilypie.com/FnI6m5/.png

[purpleeyes]

This exact same thing happened when I was pregnant with DS! My fingers were too swollen so I was wearing my rings around my neck. Best I can figure, it never made it back into the jewrely box one night and got thrown out or vaccumed up one day. We searched everywhere-even closets I think I hadn't been in in a while. ;)

Anyway, I did make a claim on my insurance and we had no problems with our premiums or being dropped. But we didn't get the exact amount, either. What happened is that they were able to get a ring that match my specs exactly from their 'middle man', but b/c of their business relationship, it would cost them about half of what the ring was actually worth! So, if we didn't choose to take this ring, we would take what they would pay for it through their guy.
I wanted the money, so we could pick out a ring together, so it would sort of have some emotional meaning, but I did want to be equivilent. So we chose to get their diamond so that in the end, it would be of equal value. Does that make sense? ;) I was very happy with the ring, it is a similar setting and very nice, but of course it is not MY ring, so sometimes I don't like wearing it.

Anyway, HTH and good luck! Let me know if you have any other questions.


Beth

[infocrazy]

I don't remember the details but we have something through our jeweler that protects the ring as well. I can't remember if if is just the stones falling out or theloss of the ring but if you have that as well, maybe you could replace it through that instead of your insurance.

HTH!

[Momof3Labs]

What insurance company do you use? Perhaps someone with the same company can share their experience filing a claim.

[caffeinedreams]

Thanks--hadn't thought to add that.

[buddyleebaby]

Just wanted to send you hugs. I lost my wedding ring too and it made me very sad. The cat stole it off the nightstand and I think knocked it down the draib (I found several other nightstand items in the tub).
Mine wasn't worth much but it was made as a wedding gift for us, and it was blessed my the Priest, so even when I get around to getting a replacemnt, it won't be the same. ; (

[babystuffbuff]

I don't have any advice about the insurance issue, but I wanted to say I'm so sorry you lost your ring. I thought I lost mine once, and it was the worst feeling. Yes, it was insured, but even if I got a new one, it might be a *wedding ring* but it wouldn't be the *ring* from my *wedding*.

I hope you find a solution you can be at peace with.

Sarah

[jhrabosk]

Ah...this is a subject on which I have (unfortunately) a lot of experience! :)

During the first couple years of our marriage, DH and I had a string of REALLY bad luck that included identity theft, car theft, and two thefts from break-ins. I believe we made 2, if not 3, claims to our homeowners (State Farm, btw). The last one included my engagement ring.

Anyway, the bottom line is that we didn't lose our insurance. The underwriters made some threats, but we cut a deal that we would take a higher deductible. It actually benefited us, because we got the lower rate that goes with it but it lowered their risk. If you have a good relationship with your broker, it might be worth talking about your concerns?

I'm so sorry you lost your ring...it's really painful. (I had actually lost the other one 3 times before it was stolen for good.) FWIW, the set that we lost was a custom piece. We were devestated. But the upshot was that after a lot of shopping around, we sat down with the same designer again and designed something brand new together that I absolutely adore. In some ways, I love it even more than the ring I was married in.

Lots of luck to you!