Whether you’re buying an engagement ring or choosing a pair of diamond earrings, purchasing a diamond is a decision you don’t want to rush into. In fact, before you start looking for that special stone, you may want to invest a little time to learn more about diamonds and how to protect them.
Below are a few tips you’ll need to know before buying a diamond:
Get to know the four Cs.
A diamond’s quality is measured by the four Cs: cut, color, clarity, and carat. Which is the most important and why?
Team up with a quality jeweler.
When choosing a jeweler, be selective, find someone with GIA Graduate Gemologist credentials, who is affiliated with jewelry industry groups and professional associations. If you need help selecting a jeweler to work with, contact your independent insurance agent.
Request a grading report.
For an unbiased assessment of a diamond’s quality, ask your jeweler for a diamond grading report. It will document the specific characteristics of the diamond, including the four Cs, confirmation that the stone is natural or lab-grown, and will disclose any treatments or alterations the diamond has undergone to change its color or clarity. The Gemological Institute of America (GIA) is the most widely used service and sets consistent standards for diamond grading and identification, so look for a GIA Diamond Grading Report.
Protect your purchase.
Make sure to have your jewelry appraised and insured. Look for a Valuable Articles insurance policy that provides all-risk, worldwide coverage, including mysterious disappearance and automatic protection for newly acquired items. Periodically have your jewelry reappraised to be sure your insurance is updated and reflects current values. Consult with your jeweler on an annual basis to have your item professionally cleaned and condition checked for any loose prongs or clasps.
This document is advisory in nature and is offered as a resource to be used together with your professional insurance advisors in maintaining a loss prevention program. It is an overview only, and is not intended as a substitute for consultation with your insurance broker, or for legal, engineering or other professional advice.