7 Secrets of Diamonds
June 30th 2008
7 Secrets of Diamonds
Find out more, day by day with the 7 Secrets of DiamondsIncludes
How to be 100% sure to get your money back if you buy on line and have problems.
Which Jewellers GUARANTEE to buy your diamond or jewellery back at any time in the future for the same or more than you paid.
How to tell the value of a diamond.
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Diamond article of the month
Insuring Your Diamonds
Insuring a diamond takes a bit of thought, planning, and shopping around. Diamond insurance isn’t like purchasing car insurance. It is quite different. Depending on the state that you live in, there are basically three different types of policies that will cover diamonds, and all insurance policies that cover diamonds are considered Marine type policies.
The first type of insurance policies for diamonds is an Actual Cash Value policy. If the diamond is lost or damaged beyond repair, the insurance company will replace the diamond at today’s market value, no matter how much you paid for the diamond to begin with. This type of insurance policy for diamonds actually is not that common.
The most common type of insurance for diamonds is Replacement Value insurance. The insurance company will only pay up to a fixed amount to replace the diamond that was lost or damaged beyond repair. This does not mean that they will pay that amount – it means that they will pay up to that amount. In most cases, the diamond can be replaced at a lower cost.
The third type of coverage offered for diamonds is Agreed Value. This is sometimes called ‘Valued At.’ This type of coverage is very rare. In the event that the diamond is lost or damaged beyond repair, the insurance company simply pays you the amount that you and the company agreed upon. This is the best type of insurance to have, but it is rarely offered. If you can’t get Agreed Value coverage, Actual Cash Value coverage should be your next choice.
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It includes articles on how to be 100% sure to get your money back if you buy on line and have problems, Which Jewellers GUARANTEE to buy your diamond or jewellery back at any time in the future for the same or more than you paid, How to tell the value of a diamond and many many more.
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