Quote:
Originally Posted by retiredguy123
I agree that you should reconsider the insurance policy because, if that diamond is really worth $15,000, they would not insure it for only $150 per year. I don't think insurance companies will insure anything for one percent of value.
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Well, Met Life added a rider to our policy after I gave them the appraisal and that is what they charged us. Maybe the premium would have been more if the policy called for them to write us a check in case of loss. The way it is written they just have to find and buy (at their wholesale cost) a similar stone. They are never going to have to pay out 15k. More like 2 or 3k max.
I would be inclined to forget the insurance and just take our chances. Dan thinks I will feel more comfortable wearing the ring if it is insured and, therefore, it's worth the money. One of those intangible things that are difficult to put a price on, you know?
k.