Lost engagement ring

No, the insurance company is giving you the amount that they deemed is the current value of the ring you lost. If you choose to spend less on your replacement ring, or to get two rings (engagement and band) for that amount of money, that's your business. The insurance company won't even know, as you will deposit their check into your bank account and use your own money to buy the new ring(s). I'm sorry you lost it, but happy shopping!

I would have a plumber or FH try to open the drain and see if it caught in the S loop!

View Quoted Comment Been there already, the insurance is sending a check. My question was IF i spent less than awarded do i have to return the overage

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Ugh, worth a shot. And no, you don't. They assessed the value, so you're entitled to what they give you.

View Quoted Comment Would you not have to get the new ring/set appraised and send that in to continue insurance coverage on the new ring/set? I don’t know the answer but am curious how that would work.

View Quoted Comment Yes i will have a new appraisal and want to get the new ring covered.