Get In the Know: Learn About Diamond Insurance, Appraisals, & Certificates

As jewelry enthusiasts, we have some major love for diamonds (we know you do too!). We know you value your diamond jewelry, which is why it’s so important to care for your diamonds properly and understand diamond insurance, appraisals, and certificates. Just think, what would you do if your engagement ring chipped or was stolen…!  Get in the know with the below information.

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Insurance – Get those diamonds insured! There are several ways to insure your diamonds. If you’re a homeowner, you can purchase an extension on your homeowners’ policy. Another option is through a jewelry retailer who offers insurance, but make sure you do your research and compare plans first! The last way is to insure through a company that specializes in jewelry insurance such as Jewelers Mutual.

Appraisals – All insurers require an appraisal document. This document contains diamond information including a description, the diamond value, sales tax (this may or may not be included), treatment information, inscriptions, and at times other documentation located in an addendum. The value of a diamond is calculated by a number of factors such as the 4 Cs (cut, color, clarity, and carat weight), current retail prices, the metal weight, the origin of the materials, and the craftsmanship and design of the piece.

Certificate – A diamond certificate (cert) is also known as a diamond grading report and proves a diamond exists. A cert includes the carat weight, measurements, grades for the 4 Cs, and additional information such as an image of the diamond showing its inclusions. A cert created by a gem lab is much more accurate than a cert created by an individual involved with the diamond sale.

DiamondLegal_blog_20150708_b_ Feel free to ask any questions in the comment section, and if you’re in the market for some diamonds, check out the selection at Jewelry.com!

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