(Closed) My engagement ring is stolen

posted 4 years ago in Emotional
Post # 46
Member
9211 posts
Buzzing Beekeeper

I’m glad you found it. I guess two lessons came out of this: (1) Don’t take your ring off to wash your hands and (2) Don’t jump to conclusions about people “stealing” things.

Post # 47
Member
1587 posts
Bumble bee
  • Wedding: October 2016

What kind of school was it?

Glad it worked out!

Post # 48
Member
585 posts
Busy bee
  • Wedding: August 2017

futurejewell2017:  It’s true that insurance is for the purpose of putting you back into the position you were before your loss, but that doesn’t mean you can’t upgrade your ring if you lose it. If your ring appraises for more than you paid for it, the isurance company will pay out the appraisal price and you can get whatever ring you want with that money. It is insurance fraud if you lie about your ring being lost or stolen, but it’s nto fraudulant, dishonest, or even frowned upon to get an upgraded ring with insurance money if your claim was properly filed.

For instance, my parents house flooded last year when the pipes burst. The insurance company sent in their contractors to estimate the cost to repair the damages. That is the amount of money my parents were guaranteed to get. Instead of hiring the contractor, my parents decidd to do the repairs themselves. They re-did their 90s-style carpeted basement with laminate hardwood and a really nice upgraded drop-ceiling. They added more expensive hardwood in the living room, and did several other improvements. Basically, the flood allowed them to upgrade a huge chunk of the house for free. They didn’t improve anything that wasn’t damaged in the flood. Because they DIYed the repairs, the insurance company held back half the money until the repairs were completed, and then sent someone in to make sure they were done and up to code before they released the rest of the money. They know my parents upgraded the house. It doesn’t matter because they did it in the amount of money that was estimated. What they did was 100% legal. It would only be fraud or improper if they purposely caused the flood in order to get the insurance money. 

The insurance compnay isn’t going to stop you from getting a great deal on a better ring, or pay out less than your diamond appraised for because they think you can replace it for less. That’s what appraisals are for–the fact that they are constantly too high is an industry problem but that’s the way it is. 

  • This reply was modified 4 years, 1 month ago by  beckybee787.
Post # 49
Member
136 posts
Blushing bee
  • Wedding: September 2015

Yay yay yay! Faith restored that people do the right thing! 🙂

Post # 50
Member
604 posts
Busy bee
  • Wedding: October 2015

Whew! I bet you are so beyond relieved! Now never take it off again 😉

Post # 51
Member
1130 posts
Bumble bee
  • Wedding: December 2014

YAY glad you found it!!!

Post # 52
Member
1243 posts
Bumble bee

tessa08:  I guess those “really not good people at my school” aren’t so bad after all. Congrats.

Post # 53
Member
7371 posts
Busy Beekeeper

Xu:  Right. So much for sterotypes. huh.

Post # 54
Member
989 posts
Busy bee
  • Wedding: February 2016

beckybee787:  I know what your saying about the house repairs, I’ve known people who’ve done similar things. But replacing lost jewellery isn’t as simple as getting the appraisal amount back. It depends a lot on what type of insurance (rider on home policy versus separate insurance) and what’s covered (theft only?) 

Some companies may cut you a check, but not until certain proof is supplied of original cost and actual loss. Others may require you to get a replacement through only certain preselected jewellers (who provide insurance company with wholesale discounts). 

And my comment was for people who assume you get exactly what the appraisal says, regardless of how over inflated. Insurance companies will usually audit appraisals, and homeowner policy riders on jewelry are typically subject to deductibles, and could mean you get a lot less than the full amount back! Regardless, overstating the cost of something intentionally for the purpose of defrauding the insurance company is illegal. 

Just want to make sure all our bees know that appraisals aren’t law when it comes to getting recompense. 

link with some interesting info:

http://finance.zacks.com/insurance-usually-works-jewelry-robberies-7409.html

  • This reply was modified 4 years, 1 month ago by  MrsJewell.
Post # 55
Member
1910 posts
Buzzing bee
  • Wedding: February 2015

tessa08:  Awesome, now get that ring insured!

Post # 56
Member
893 posts
Busy bee

tessa08:  glad you got it back! I don’t think it was irresponsible that you took it off in a public restroom, if you are typically the type of person who doesn’t forget things. I thought I was like that too, until I had a very close call. what I’ve learned: if I must take it off in public, I put it in a pocket — even if it’s only for a second. the extra step is worth it. 

(note: use a good pocket. there were a couple of times I put it in a shallow sweater pocket, forgot, and was super grateful that the ring didn’t bounce out of it when I started walking.)

Post # 57
Member
587 posts
Busy bee
  • Wedding: November 2011

I’m glad you got it back. Do you mind if I ask what type of school this is? Is it a high school? I’m guessing it is, because you say that there are rough girls there and you refer to the instructors as teachers? Not that it matters, I’m just curious.

Post # 58
Member
408 posts
Helper bee
  • Wedding: June 2016 - Beach

25 years ago our house was robbed and my Mum’s wedding ring was stolen (it was originally my grandmother’s ring a Black Onyx) and about 10 years ago my Mum worked with an elderly woman who had the SAME EXACT ring! She lived a few blocks from us around the time that the ring was stolen. Her son was a drug addict and was in and out of jail all his life until he died a few years ago from an overdose. My Mum was close to this woman and worked with her for 10+ years and asked her about the ring one day. She told my Mum it was a gift from her son back in the mid 80’s. My Mum never had the heart to tell her about how our house was robbed around the time she received the ring. Sorry about the long winded story just wanted to get the point across that some things are never TRULY lost. and I sincerely hope you get your ring back.

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