Missing, Lost or Stolen?
Should you File a Police Report if your Diamond Ring comes up Missing, Lost or Stolen?
I say “YES“, and for a Couple of Really Great Reasons:
1) Insurance Companies Won’t Cover a Ring without a Police Report
2) Police Can’t Catch the Thief
The Truth is, many, many things could have happened to your Ring…
- You could Lose your Rings
- You could take them off to Wash your Hands and Leave them on the Airport Sink
- You could get Robbed
- You could get your House broken into
- A Relative or Friend could have Pocketed your Pieces
- Your Diamond could have come out of the Mounting and got Lost in the Grass
- Your Ring could have Fallen off During that Swim with the Dolphins…
Who really knows what happened to it, or even when it happened. All most people know is that their Diamond Ring is Gone. Missing. Vanished!
What Should you Do?
If it’s Valuable, and Worth anything to you, Call the Police and File a Report.
Many times the Police will come out and take Notes about the Ring, possible Suspects or a possible Scenario.
If you have any Documentation, like an Appraisal or a Diamond Report, make them a Copy so they can get a Better Idea of the item and its Worth.
If you have Pictures or Close-ups of the Ring, give them Copies as well.
Any Detailed info will Help, and Could…
Help Solve a Crime!
Police can then go around to all the Different Pawn Shops, Jewelers and Diamond Buyers in the City. The Buyers are Obligated to Keep Track or Record of Anyone Pawning, or Selling a Ring (within a Certain Amount of Days – usually any where from 7 Days, to 30 Days). Most must Fill out a Purchase Card that lists things like: Seller’s Name, Address, Phone Number, Merchandise Sold or Pawned, and the Value Amount given.
This Info could Prove Very Valuable to the Police Department as they Search for your Gems or Jewelry.
Plus, without these Official Police Reports, your Insurance Company Won’t Pay to have your items Replaced.
The Police Report is Proof!
Only then will your Insurance take the Situation Seriously and then Proceed to Replace your Goods.
This is why an Up-to-date Appraisal is also Highly Recommended. You want the Appraisal Value to Portray the Current Diamond Market! This way, you get what your Diamond is Worth, and Not what it was Worth 20 years ago.
Taking Pictures of your Jewelry (Now Versus Later), goes a long, long way. You did Photograph your Rings on your Wedding Day, didn’t you?
Jewelers and Police can view these Images and instantly get a Better Feel for your Rings. The Approx. Carat Weight, the Shapes, the Style, the Amount of Stones, the Metal…
It also makes it Easy for Jewelers and Designers to find a Similar Piece for Replacement, or it makes it Better for them to Recreate or Custom Design a New Ring for you.
Keep in mind, you don’t always have to Stick with the Same Type or the Same Carat Weight. You could Opt for something totally Different since you have to get a New one anyway. You could go for a Different Metal (White Gold is in), or you could also go for a Much Larger Carat Weight. Get the 2 Carat you always Dreamed of! :)
What’s your Deductible?
The First Step is to call the Police and make a Report. The Second Step is to call your Agent and see what’s Required. But, this also Depends on the Value of your Rings, and of course, your Deductible!
If you have $1,000 Deductible, and your Ring is only worth $1,500, then it’s probably Not Worth Filing a Report over. After all, a Claim could Cause your Insurance to go up! :(
All Good Things to Consider
If you need more Info or have Further Questions about your Actual Coverage, Call your Insurance Broker and Pick their Brain. Do it Now, before it’s too Late. That’s what they’re there for! :)
Hopefully your Ring shows up. Or if not, hopefully a New one goes Smoothly and Painlessly for you.
Check your Drains and look under the Bed and Couch Cushions…
Who knows where the Cat Hid it?