Ontario Woman Shocked To Lose 20 000 Engagement Ring Diamond Not Covered By Insurance

“I started crying because it’s so emotional for me and it can never be replaced.  It had a beautiful diamond on it that my husband designed, so it’s very special to me,” said Saverina Chiappetta of Woodbridge.
When Chiappetta received the ring in 1988, her engagement diamond was worth about $20,000.
When the diamond was lost, Chiappetta checked her home insurance policy and initially felt she was covered for replacement.
“I looked at my insurance policy and it said I had coverage for up to $613,000 in assets, so I naturally assumed the wedding ring would be covered,” Chiappetta said.
A similar replacement diamond would now cost up to $55,000, but when Chiappetta contacted her insurance company, she was told her policy had limitations.

Saverina Chiappetta’s wedding ring can be seen in this photo taken after the diamond fell.
Chiappetta’s home policy is with Pembridge Insurance Company, and the company told CTV News Toronto in a statement that, “the customer in question purchased her insurance through a broker and is paid in full for jewelry covered by her policy, which agreed to at time of purchase and after multiple annual renewals.” “This case should serve as an important reminder for Canadians to talk to their insurance professional about any particularly valuable items they may have – such as art, jewelry or antiques – that may require a formal appraisal and a ‘staff addition item” in their policy to ensure they are covered for full replacement value.” If you have an expensive comic book collection, racing bike or expensive jewelry, you may need extra insurance to make sure it can be replaced in the event of a fire, flood, or loss or theft of the item. “It’s important to understand your policy limits,” said Anne Marie Thomas with the Insurance Bureau of Canada. “If you have high-value items or collectibles, it’s important to get them appraised and then take that appraisal to your insurance professional for a special endorsement or rider.” Chiappetta will receive an insurance payout close to $5,000, but the amount is still being worked out. Chiappetta said she would have bought extra insurance for her wedding ring if she had known it was necessary. “I definitely would have bought extra insurance for my ring for an extra $50, to $100, to $200 a year. Why didn’t they try to sell me more insurance? Why was there never a discussion?’ It’s a good reminder for anyone with expensive jewelry, art, or any item that’s extremely valuable to check with your insurance company to make sure you have the coverage you think you do.

title: “Ontario Woman Shocked To Lose 20 000 Engagement Ring Diamond Not Covered By Insurance Klmat” ShowToc: true date: “2022-12-19” author: “Douglas Cash”

“I started crying because it’s so emotional for me and it can never be replaced.  It had a beautiful diamond on it that my husband designed, so it’s very special to me,” said Saverina Chiappetta of Woodbridge.
When Chiappetta received the ring in 1988, her engagement diamond was worth about $20,000.
When the diamond was lost, Chiappetta checked her home insurance policy and initially felt she was covered for replacement.
“I looked at my insurance policy and it said I had coverage for up to $613,000 in assets, so I naturally assumed the wedding ring would be covered,” Chiappetta said.
A similar replacement diamond would now cost up to $55,000, but when Chiappetta contacted her insurance company, she was told her policy had limitations.

Saverina Chiappetta’s wedding ring can be seen in this photo taken after the diamond fell.
Chiappetta’s home policy is with Pembridge Insurance Company, and the company told CTV News Toronto in a statement that, “the customer in question purchased her insurance through a broker and is paid in full for jewelry covered by her policy, which agreed to at time of purchase and after multiple annual renewals.” “This case should serve as an important reminder for Canadians to talk to their insurance professional about any particularly valuable items they may have – such as art, jewelry or antiques – that may require a formal appraisal and a ‘staff addition item” in their policy to ensure they are covered for full replacement value.” If you have an expensive comic book collection, racing bike or expensive jewelry, you may need extra insurance to make sure it can be replaced in the event of a fire, flood, or loss or theft of the item. “It’s important to understand your policy limits,” said Anne Marie Thomas with the Insurance Bureau of Canada. “If you have high-value items or collectibles, it’s important to get them appraised and then take that appraisal to your insurance professional for a special endorsement or rider.” Chiappetta will receive an insurance payout close to $5,000, but the amount is still being worked out. Chiappetta said she would have bought extra insurance for her wedding ring if she had known it was necessary. “I definitely would have bought extra insurance for my ring for an extra $50, to $100, to $200 a year. Why didn’t they try to sell me more insurance? Why was there never a discussion?’ It’s a good reminder for anyone with expensive jewelry, art, or any item that’s extremely valuable to check with your insurance company to make sure you have the coverage you think you do.

title: “Ontario Woman Shocked To Lose 20 000 Engagement Ring Diamond Not Covered By Insurance Klmat” ShowToc: true date: “2022-11-14” author: “Anthony Meyer”

“I started crying because it’s so emotional for me and it can never be replaced.  It had a beautiful diamond on it that my husband designed, so it’s very special to me,” said Saverina Chiappetta of Woodbridge.
When Chiappetta received the ring in 1988, her engagement diamond was worth about $20,000.
When the diamond was lost, Chiappetta checked her home insurance policy and initially felt she was covered for replacement.
“I looked at my insurance policy and it said I had coverage for up to $613,000 in assets, so I naturally assumed the wedding ring would be covered,” Chiappetta said.
A similar replacement diamond would now cost up to $55,000, but when Chiappetta contacted her insurance company, she was told her policy had limitations.

Saverina Chiappetta’s wedding ring can be seen in this photo taken after the diamond fell.
Chiappetta’s home policy is with Pembridge Insurance Company, and the company told CTV News Toronto in a statement that, “the customer in question purchased her insurance through a broker and is paid in full for jewelry covered by her policy, which agreed to at time of purchase and after multiple annual renewals.” “This case should serve as an important reminder for Canadians to talk to their insurance professional about any particularly valuable items they may have – such as art, jewelry or antiques – that may require a formal appraisal and a ‘staff addition item” in their policy to ensure they are covered for full replacement value.” If you have an expensive comic book collection, racing bike or expensive jewelry, you may need extra insurance to make sure it can be replaced in the event of a fire, flood, or loss or theft of the item. “It’s important to understand your policy limits,” said Anne Marie Thomas with the Insurance Bureau of Canada. “If you have high-value items or collectibles, it’s important to get them appraised and then take that appraisal to your insurance professional for a special endorsement or rider.” Chiappetta will receive an insurance payout close to $5,000, but the amount is still being worked out. Chiappetta said she would have bought extra insurance for her wedding ring if she had known it was necessary. “I definitely would have bought extra insurance for my ring for an extra $50, to $100, to $200 a year. Why didn’t they try to sell me more insurance? Why was there never a discussion?’ It’s a good reminder for anyone with expensive jewelry, art, or any item that’s extremely valuable to check with your insurance company to make sure you have the coverage you think you do.

title: “Ontario Woman Shocked To Lose 20 000 Engagement Ring Diamond Not Covered By Insurance Klmat” ShowToc: true date: “2022-10-22” author: “Gregg Davidson”

“I started crying because it’s so emotional for me and it can never be replaced.  It had a beautiful diamond on it that my husband designed, so it’s very special to me,” said Saverina Chiappetta of Woodbridge.
When Chiappetta received the ring in 1988, her engagement diamond was worth about $20,000.
When the diamond was lost, Chiappetta checked her home insurance policy and initially felt she was covered for replacement.
“I looked at my insurance policy and it said I had coverage for up to $613,000 in assets, so I naturally assumed the wedding ring would be covered,” Chiappetta said.
A similar replacement diamond would now cost up to $55,000, but when Chiappetta contacted her insurance company, she was told her policy had limitations.

Saverina Chiappetta’s wedding ring can be seen in this photo taken after the diamond fell.
Chiappetta’s home policy is with Pembridge Insurance Company, and the company told CTV News Toronto in a statement that, “the customer in question purchased her insurance through a broker and is paid in full for jewelry covered by her policy, which agreed to at time of purchase and after multiple annual renewals.” “This case should serve as an important reminder for Canadians to talk to their insurance professional about any particularly valuable items they may have – such as art, jewelry or antiques – that may require a formal appraisal and a ‘staff addition item” in their policy to ensure they are covered for full replacement value.” If you have an expensive comic book collection, racing bike or expensive jewelry, you may need extra insurance to make sure it can be replaced in the event of a fire, flood, or loss or theft of the item. “It’s important to understand your policy limits,” said Anne Marie Thomas with the Insurance Bureau of Canada. “If you have high-value items or collectibles, it’s important to get them appraised and then take that appraisal to your insurance professional for a special endorsement or rider.” Chiappetta will receive an insurance payout close to $5,000, but the amount is still being worked out. Chiappetta said she would have bought extra insurance for her wedding ring if she had known it was necessary. “I definitely would have bought extra insurance for my ring for an extra $50, to $100, to $200 a year. Why didn’t they try to sell me more insurance? Why was there never a discussion?’ It’s a good reminder for anyone with expensive jewelry, art, or any item that’s extremely valuable to check with your insurance company to make sure you have the coverage you think you do.