We purchased a Homeowner's Policy from Farmers along with a supplemental "floater" to cover additional jewelery including my wife's engagement and wedding ring. In the policy floater it specifically states the additional coverage (for which we paid an additional premium) is for insurance of of the items detailed in the floater-listing her rings.

One evening my wife noted that her 1.5 ct diamond looked "cloudy". After taking it to a reputable jeweler it was determined that the diamond was cracked, not totally uncommon but for which there is no universal cause and according to the jeweler would be covered by our floater.
We contacted our Farmers agent (Bill Smith) to file a claim who immediately passed us off to the claims agent - providing a phone number only and not even making the effort to make a call.

Long and short of it - Farmer's made every effort not to cover this loss. During one stage of the investigation the adjuster even contacted the jeweler after receiving his report asking him to re-write the letter using "her words". In addition when I spoke with the Claims Manager he had to go to his legal team to get an explanation of "marring" which the term they used for denial of coverage. If this is in their policy and is being used as the reason for denial of the claim shouldn't the manager know what "marring" is.
Farmer's informed us that their floaters provide no additional coverage for the items listed in the floater outside of what is covered in the homeowners policy and for which a premium was paid. Even sillier, they explained if the diamond was completely lost suspiciously it would have been covered! Marring is a term listed in their Homeowners coverage as it pertains tho the structure and integrity of a residence - no mention on how it applies to jewelry.

As a follow up we made several calls to several other insurance agents/brokers including Allstate, Safeco etc. to verify this explanation and took the ring to several credible jewelers and every one had the same response "That's ridiculous!" and "What is marring?" "Never heard of such a thing, this stuff has always been covered." "Most floaters are all risk world-wide."

Damage Resulting = The diamond either needs to be replaced $12K and setting repaired or we can try to have the diamond re-cut and re-set but it will change the overall size and weight thus reducing the value. Either way we are out of pocket several thousand dollars.

I cancelled my policy almost two months ago because, even though I've had no accidents, my rate INCREASED even though the agent, Nicholas Gardner, had promised it would reduce. When I asked him why he blamed his manager. At that point I cancelled my policy and was due a 133.00 refund. It's been almost two months now and I still haven't received my refund.

I called Nicholas Gardner and asked for his managers name and number but he then said he didn't have a manager (even though he had claimed one as an excuse previously) and he refuses to give me another number to call yet can't tell me where my refund is or why I haven't yet received it. The last time I called he hung up on me. Very unprofessional behavior.