Chipped Diamond Ring :(

[Jenn4615]

So I noticed last weekend that my diamond ring looked kind of twisted.... so I took it into the jeweler... I figured the stone was loose... I WAS NOT EXPECTING HER TO COME BACK and say it was completly chipped in the corner and even if they tightened it... because of the cut (princess cut) it probably was going to fall out...
So i got a second opinion...and was told the same thing. I trusted the first place cause they are reputable...but I just wanted to make sure... well now I have to go through insurance to have this replaced.
Anybody have experience doing this?

 

[daughtersrus]

So I noticed last weekend that my diamond ring looked kind of twisted.... so I took it into the jeweler... I figured the stone was loose... I WAS NOT EXPECTING HER TO COME BACK and say it was completly chipped in the corner and even if they tightened it... because of the cut (princess cut) it probably was going to fall out...
So i got a second opinion...and was told the same thing. I trusted the first place cause they are reputable...but I just wanted to make sure... well now I have to go through insurance to have this replaced.
Anybody have experience doing this?

What type of insurance do you have to cover the chip?

My homeowners policy only covers if the ring is lost or stolen. It won't cover it if the diamond falls out so I'm sure it wouldn't cover a chip.

 

[Jenn4615]

I have a ryder or whatever they call it on my home owners policy. The regular policy does not cover it... THANK GOD we had it insured... I know its covered.. I already talked to them... But I was wondering time frame... if they make you pick out the same style etc...

 

[Anthony1971]

They will just send you a check
The rest... It depends....
You should find your original policy and read it very carefully...
examples... did you have the ring insured--you would have had it appraised and insured it for that amount... otherwise you may have like a 5,000 jewelry ryder which likely will be 2,500 max per item and then minus your deductable (1,000.00 is most common) so max you will get is 1,500 and that is providing you diamond is woth 2,500... what a store charges and what it is appraised for is NOT the same price the insurance will pay.... this is the case with all.
But also a lot depends on you policy so read it carefully and be well infomed as to what you are covered for....

 

[Maryr1]

It all depends on your policy. Some will send you a check, and then you go out and pick shape, etc. of the new diamond that you want. Others will find you a replacementthrough their sources that matches your previous diamond-size, cut,clarity,color shape-this sounds great BUT all diamonds are different and an eye clean si2 (to your eye) can be diffent than an si2 even though they are both si2's......KWIM. There can also be a difference in price for 2 similar si2's depending on how they look. Remember that the dimensions of each diamond can be VERY different even though carat weight can be the same-it is all dependent on cut. Call your agent and see what your options are. FWIW, the price of diamonds is very high right now. There are some very reputable on line diamond stores that might be a good place to look.

 

[Jenn4615]

Just got off the phone with the claims adjuster... so I just have to show my GIA certified appraisal certificate. Have the jeweler call him and they will pay out on the ring... and even better... I HAVE A ZERO deductible on the ring! I NEVER in a million years would have Thought THAT!!
I was given the option to have them replace the diamond and that is what they call the easiest method! LOL of course it is! But he said I can go either route.... and they will sell the current diamond to recoup some of the cost...
So its not as horrible as I thought it would be 1000 dollar deductibles, etc... still stinks.... I'd rather have my engagement ring in tacked.

 

[a1tinkfans]

Oh OP, sorry but at least you have some options.
I got a diamond band that is filled with rows of baguettes and a center row of rounds and 1 of the darn baguettes popped out, I was SHOCKED and my entire ring was replaced with no OOP cost.
I was told that since the band was so wide and since the rows of baguettes are set so that they should NEVER fall out (UH, they DID) they could not guarantee another or the same one would fall out again ...so I did get another ring, same GIA certification on the stones/quality etc....I guess when you have the proper paperwork they cant mess around with the quality/value etc. And I still had it looked at as far as value after I got it just to be sure!
Good Luck! I got a new ring within 2-3 weeks, or there abouts.........