What happens if you find a ring after insurance claim?
If you've found the jewelry that you filed a claim for, contact your insurance. In most cases, you will either have to pay the money back to your insurer or return the new piece you bought with the insurance money to your insurance company.
You have the option of retaining the recovered property. However, you must return payment to your insurance carrier. The insurance company will pay for recovery expenses and the expenses to repair the property subject to the Limit of Insurance.
You should take it to a jewelry store and see if the diamond is real and the metal is of value.
Finally, filing a claim for a stolen or damaged piece of jewelry can lead to higher policy premiums. Consider this option if: You don't own much jewelry or the pieces you own aren't worth more than your policy's jewelry sublimit.
Be sure to check all of your insurance policies to see if they cover lost engagement rings. Depending on your insurance, you will either receive cash or your insurance company will provide payment to a jeweler for a replacement ring. The replacement engagement ring will be similar in cost to the ring you lost.
Always attempt to find the owner if possible, or turn the item in to the police. Most states will allow finders to keep the property if the owner does not show up to claim it after a certain time. Failure to report a found item can lead to criminal charges.
Jewelry insurance covers the real risks from loss, theft, damage and “mysterious disappearance,” providing an equivalent replacement for a lost or stolen item should you make a claim. Most will also work with your local jeweler to make sure you get the quality replacement you deserve.
Regardless of whether the item you have found is identifiable or not, the most advisable route is to make a reasonable effort to find the rightful owner and turn it into your local police department for safekeeping while attempts are made to find the owner.
If it is not claimed within a certain time you can claim it - legally - as yours. If you sell it without doing this you will be handling stolen goods (called theft by finding) once you can sell it, it will depend on the value of the ring as to where you should sell it - ebay vs sotherbys.
I would report it to the police, but I would do what a friend did when he found a large diamond ring on the ground. He gave them his number, and told them that he found a piece of jewelry, and if the owner called him and described it, he would return it to them.
Will insurance cover my lost ring?
Lost rings and valuable personal items may be covered under home insurance, but standard coverage limits can be low. To be sure your valuables have the coverage you want, have them professionally appraised and find out about insurance options. A “floater” endorsement can extend coverage limits beyond the base coverage.
A jewelry appraisal is an official document with photographs that describes a piece of jewelry, assesses its quality, assigns a dollar value to it, and serves as a record of ownership. The appraisal's dollar value is an estimate of how much it would cost to replace this item.
Most standard homeowners or renters insurance policies have a limit for jewelry coverage, typically ranging from $1,500 to $2,000. If your wedding ring is worth more than the limit, it may not be fully covered under your policy.
Insurance claims for jewelry go through a very similar process to car insurance claims. A policy agent will assign you a claim number and you will be asked to provide any relevant photos, police reports, and documentation about your stolen jewelry.
It doesn't necessarily mean that the relationship is bad, you have simply lost an inanimate object, which is something everyone does from time to time. Anger, especially if it is extreme, for losing something, even something as symbolic as a wedding ring, indicates that there is something else going on in your marriage.
At least 1 in 3 women have lost a piece of jewellery. That's a lot of people who have gone through the pain of losing something precious. Engagement rings hold sentimental value, and their loss can be devastating. We love and cherish jewellery as much as you do.
If the ring has an inscription or engraving with a name or contact information, you can attempt to contact the owner directly. If the ring is valuable, you can also take it to a local jeweler who may be able to help you locate the owner.
Each GIA certified diamond with a serial number is registered in the GIA records with the name and contact information of he who sent the stone in to be assessed. The number is inscribed on girdle of the diamond, and if found, can be looked up in order to track down who rightfully owns it.
If your find can't be considered a treasure, you are legally required to take it to the police. It will go into their custody and be handled like any other case of lost property.
Jewelry is included in personal property coverage but usually only up to a specified dollar amount. As jewelry can be both valuable and easy to steal, insurance companies usually cap jewelry coverage at a relatively low dollar amount. A common policy limit for jewelry is $1,500, but your policy may vary.
Does jewelry insurance replace lost jewelry?
Jewelry insurance will cover the entire replacement value of your jewelry, whereas homeowners policies may only cover a fraction. Also, many homeowners policies will only cover jewelry if it is stolen. Not so with Jewelry insurance.
Consider insurance If you plan to buy an expensive engagement and/or wedding ring. Couples may spend thousands of dollars on engagement and wedding rings, but the limited coverage of renters or homeowners insurance often offers just a fraction of an item's worth.
Unfortunately, a very low percentage (less than 5%) of stolen jewelry is ever recovered.
However, it may be the case that you've just lost the original certificate, or your diamond never came with one. In this case, there's no need to worry - a certificate is not needed to sell your piece and jewelers will still be interested in buying your diamond at a fair price.
The FBI also supports an industry-operated database (maintained by the Jewelers Security Alliance), that allows law enforcement agencies to search for and identify stolen jewelry.