Steps To Take Before Buying An Insurance Policy To Protect Your Diamond Jewelry
Diamond jewelry has long been prized for its beauty and sparkle, and high-quality diamond jewelry is typically worth a lot of money. Thus, if you own one or more pieces of diamond jewelry, it is important to ensure that it is protected. Many people do not realize that homeowners insurance only covers unspecified losses up to a certain amount. This means that there is a good chance that expensive diamond jewelry will not be covered in the event that it is lost or stolen. A simple solution is to purchase an insurance policy to cover your diamond jewelry. In order to purchase an insurance policy to cover your diamond jewelry, take the following steps:
Obtain Proper Certification
The diamonds used in diamond jewelry are graded and certified. This certification confirms information about the diamond, such as its carat weight, color, clarity, and cut. If you have recently purchased a new piece of diamond jewelry, it should come with a certificate. When it comes to heirloom jewelry, you will need to have the diamond inspected so a certificate can be made. After you obtain the proof of certification for the diamonds, make sure that you keep them in a safe place.
Get an Appraisal
While certification provides important verified information about a diamond, an appraisal establishes how much a piece of diamond jewelry is worth. When getting an appraisal, make sure that you seek out the services of a reputable and experienced jeweler. The appraised value will determine how large of an insurance policy you need to purchase to ensure that the complete value of your diamond jewelry will be reimbursed if it is ever lost or stolen. The insurance company will also most likely require an official appraisal to prove that the diamond jewelry that you are insuring is worth the amount that you claim.
Take Photographs of Your Diamond Jewelry
Before an insurance policy for your diamond jewelry can be issued, you will need to provide proof to the insurance company that you are currently in possession of the jewelry being insured. An easy way to establish proof of ownership is by submitting current pictures of each piece of diamond jewelry that is being insured. After you send in photographs of the jewelry to the insurance company, make sure that you make a second copy of the pictures for your records. You may need the photographs if you ever need to file an insurance claim.
If you're looking for information on diamond jewelry in your area, contact a local jewelry store.