he movers stole her engagement ring.
Instead of replacing it or cutting her a check to replace it, the insurance company gave her…
…a check for the last appraised value – from 15 YEARS AGO!
Which is HALF what it was worth today.
(True story that just happened to one of our Financial Zen Members.)
Here’s how to make sure this doesn’t happen to you:
1. Insure your engagement ring with Chubb. This is a tip I got from my “guy”.
Chubb is the only insurance company that will replace your ring with an equivalent diamond, REGARDLESS of the last appraised value or current market value.
2. Get your ring appraised every couple of years, so if you ever need it replaced you’ll be close to the current market value (if you don’t use Chubb).
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Part of the value of our Financial Zen community is the ability to learn from each other.
I just wish we didn’t all get to learn this important lesson at someone else’s expense.
Hopefully, her experience can help prevent this from happening to anyone else in our community.
