logologologo

Diamond Articles

Diamond 7 C's

Current Fancy Offers

Current Standard Offers


Diamond Calculator



- -




Diamond Insurance Tips

Working with Insurance companies can become very tricky when it comes to replacement of lost or stolen jewelry. The Insurance companies usually require an extra rider clause to your homeowner's policy for any jewelry valued over $300.00. This rider must be purchased and in force at time of purchase. In addition Insurance Companies require documentation of all jewelry items via current jewelry appraisals. This is only the beginning. If you do not have a Certified Diamond with a proper Diamond Report, the Insurance Company will see this as an opportunity to attempt to replace your diamond with a lower quality diamond. Remember an Insurance Appraisal which values a non-certified diamond is only someone's opinion of the diamond quality grading and value, leaving much room for interpretation when the issue of diamond quality is being addressed.

This is another very important reason to require a Certified Diamond when you make any important diamond purchase. A diamond that has a Certificate allows no room for misunderstanding on anyone's part when it comes time for replacement because of loss or damage. The Insurance Company is required to replace all items in "LIKE AND KIND" no excuses no deviations of quality or size regardless of current market prices. Of course you must have current appraisals. I suggest current appraisal means at least every 3 years.

Another important area is "coverage or insured amount". All insurance premiums are base on "Replacement Value" covered by the current jewelry appraisal. On the one hand Insurance Companies love to collect high premiums based on inflated Replacement Values, on the other hand they require any payouts to be fully documented and can choose to press the client to accept a lower payout if their jewelry documentation is not completely in order!

The solution to all of these dilemmas is simple. By making your purchase through AM-Diamonds.com you are making your diamond purchase below New York's 47th Street wholesale pricing, obtaining an Insurance Appraisal at the correct Replacement Value, saving money on Insurance Premiums, and in the event of a loss, know where to replace the exact Certified Diamond through AM-Diamonds.com at the current pricing below New York's 47th Street wholesale pricing. This is what I refer to as an efficient diamond purchase!

Our experience suggests that the greatest need for insurance comes from the following causes:

The bottom line is to get your diamond insured immediately and be sure your insurance covers damage, loss and current Replacement Value.