The complaint has been investigated and
resolved to the customer's satisfaction
Resolved
USAAdiamond replacement

I have a personal property insurance policy on my engagement ring. It was appraised and is insured with USAA for $9830. I have been paying premiums on this policy for 10-years. Recently, I chipped the ring and brought it back to the jeweler from whom it was purchased. They verified the chip and so I contacted USAA. I faxed them the AGS certification for the diamond which provided all the specifications for the diamond. They said that they would replace my diamond for $5300! I asked them to show me the AGS documentation for this new replacement diamond and they could not or would not. They said that I would need to mail my diamond to their lab for further verification. Are they kidding?? The AGS document is a certified document. What more do they require, other than to swindle me out of my premiums on a $9830 diamond and replace it with a lesser valued stone!! IF YOU ARE THINKING ABOUT PERSONAL PROPERTY INSURANCE WITH USAA PLEASE DON'T!! USAA is ripping off it's members.

Responses

  • Hy
    hydropro42 Dec 08, 2009

    Please report them to the BBB

    0 Votes
  • Fo
    formerinsuranceadjuster Mar 24, 2010

    So you are saying that your jeweler is the only one who is actually honest? We all know the appraisals we get at purchase are inflated at least 200%. So yes your jeweler will tell you a higher price then the insurance company that can actually replace it for the real price. stop believing your jeweler, they work off commission.

    0 Votes

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