How to Insure Diamond Jewelry

Owning valuable jewelry is a big responsibility, and if you want to be able to wear and enjoy your pricey pieces then you should be sure to insure them against loss, wear, theft and other types of damage that can occur when you regularly exhibit jewels. Insuring diamond jewelry must be done carefully immediately upon purchase in order to protect your new bauble from any unexpected misfortune. Make sure to work with a jeweler(visit ukbead) or other insurer to make certain that you are protected from all types of incidents that could result in the loss or damage of your diamond. Read on to learn more about how to insure diamond jewelry.
Instructions
1. Evaluate all the options. Depending on what state you live in, you probably have three main policy options for your diamond insurance. You can select a "cash-value" policy, which pays the cash value of the diamond or the jewelry in the event of loss, theft or irreparable damage, a "replacement-value" policy, which will replace your diamond with one of equal caliber, or an "agreed-value" policy, which simply states that if you lose your diamond, the insurance company will pay you a certain amount of money that you and the company agree upon ahead of time. Each of these types of policy have advantages and disadvantages, and you will need to discuss them with an insurance agent and evaluate them against your own finances before making a decision.
2. Get a certificate of value for your diamond. This needs to come from an independent appraiser. Make sure that the insurance company agrees to accept this certificate before you buy the policy, since if you wait until something bad happens the company may try to claim that you did not get the value of the diamond approved before it was lost. This will enable them to pay you less money in many cases.
3. Check your homeowner's insurance. If you do not wear your diamond outside of your home, then it may be covered under your homeowner's insurance policy. However, if you leave the house with the jewelry and it is then stolen or you cannot prove that the diamond was lost or stolen while it was in the house, then your homeowner's insurance will not cover the replacement costs.
4. Read the fine print. Many policies require that you have the settings on your jewelry right now checked regularly, that you take your diamond for regular inspections or even that you only wear your diamonds in certain areas. Make sure that your intentions for your diamond jewelry are compatible with your insurance policy.