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As with any investment, insuring your diamonds is a wise and prudent step, whether you buy loose diamonds or diamond jewelry. Loose diamonds are easier to misplace and can be difficult to identify if stolen, so when you make your purchase, look into an insurance plan that best suits your needs.
Keep in mind that there are various insurance policies offered for loose diamonds, but all of them require a certificate for your diamonds. If you buy your loose diamonds without certificates, you will have to get them professionally appraised before insuring them. Diamonds On Web supplies its all of its customers with an original certificate when they purchase loose diamonds and diamond jewelry.
Loose Diamond Insurance Options
The least expensive insurance option for your loose diamonds is a policy that offers to pay a fixed amount of money for each of your loose diamonds. This amount is agreed upon at the point of signing the policy. While this kind of insurance is practical and economical, it can become tricky if there is a substantial change in the market value of your loose diamonds.
Your next choice is altering your insurance to reflect the market value of your loose diamonds at the time of loss. This more flexible option is also accordingly a more expensive form of insurance, but it guarantees that you can immediately replace your loose diamonds.
Some of the most expensive and unique policies are geared to compensate for a loss that goes beyond financial worth. For example, if your loose diamonds carry sentimental value, or are inherited or given by a loved one, special insurance policies can be made to reflect that value. This option is usually quite costly, but it can be more flexible and suit particular coverage needs.
A Diamonds On Web special tip!
Help lower the cost of your insurance policy by getting your loose diamonds scanned, so they can be computer identified if necessary!
Jewelers Mutual - How much will it cost to insure my jewelry?