What kinds of insurance rates should I expect for a diamond?
Author: Diana Trengove
Website: http://www.DiamondsTips.com
Added: Thu, Feb 1, 2007 13:31:25
Category: Diamond Questions
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Insurance companies can become tricky when they are dealing with lost or stolen jewelry. They usually require an 'extra rider clause' on the homeowner's insurance policy for jewelry having a value of over $300. The rider should be purchased at the time you purchase your homeowner's policy.
Documentation of your jewelry's current appraisal is also required by insurance companies. You should also have your diamond certified, as the insurance company replaces items with "like and kind" regardless of the current market prices.
Usually insurance rates are based on your jewelry's appraisal. Most insurance companies collect very high premiums and they usually require full documentation before they will pay out on a claim. If your documentation is not in order, the insurance company can press you to accept a much lower pay-out.
keywords: Diamond | Diamonds | Jewelry | Gem | Engagement | Insurance About the Author:
Diana Trengove answers frequently asked diamond questions at PrettyGreatAnswers.com.
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