Diamond Insurance: Do you need one?

Diamonds are mesmerizing! They add an everlasting lustre to the personality of the person wearing it. From the day you said yes, you would probably be rocking a new shiny jewel on your ring finger. With this comes a responsibility to take care of your diamond. How can you do that? By insuring your diamond! Now, the first question that comes to your mind is, do you need one? If you ask the top diamond jewellery manufacturers, the answer will be yes! What will happen if you lose your diamond, or let’s say it gets stolen or damaged somehow?

You should have a legal cover to protect your diamond and lower your losses. Here are some crucial aspects that will help you in relishing your diamond forever.

· Coverage Provider – There are many diamond insurance coverage providers available in the market. They all will claim to offer you the best coverage for your diamond. Consult an expert and identify the best insurance company that specializes in diamond and other gemstone insurance.

· Understand the insurance pricing – The cost of insurance coverage will depend upon the value of the diamond, your residential area, and the provisions on deductibles. Usually, you will be required to pay higher premiums on the policies that don’t have deductibles and vice-versa.

· Queries – There are specific questions that you should ask your potential insurance provider. For instance, can you select the company that will repair your diamond jewellery, situations that are uncovered, how can you prove that the ring is lost or stolen, will inflation affect the policy rates, will the insurance continue in foreign countries, and so on. Finding the right insurance provider would be much more comfortable with these answers.

· Diamond Appraisal – How will you protect your diamond, if you don't know its exact details? Do you know the precise information about your gemstone, in terms of its weight, carat, colour, cut, and clarity? Get a diamond appraisal to see every minute detail about your precious gem. This appraisal will help you a lot while filing an insurance claim for your lost, stolen, or damaged diamond.

· Get a Certificate – Once you are done with all the appraisal formalities, you can ask for an official grading report or certificate from the jeweller. It is proof of your diamond's authentication. You can also get this report from the reliable gemological laboratory.

Diamonds are the most precious gemstones in the world, and so are the sentiments attached to it. Even if you buy it from a wholesale designer jewellery in india , it is essential to insure it. Ensure you take every possible step to keep it safe and secure. You can also get in touch with the market experts to know more about this.