Tips to Claim Insurance on Diamond Rings

Factors like thievery and accidental fall of stones are pretty much beyond your control. Hence, it is of utmost importance to get insurance for your precious diamond ring.

If you have already insured your diamond ring, the next thing to learn is how to claim insurance on diamond rings in case it is lost. To start, you must primarily know about your policy well for claiming the insurance. There are mainly two types of jewelry insurance policies: Cash Value and Replacement Cost. Even though they may seem the same, they are very different. The former will take into account the reduction in value from the purchase price, while the insurer will pay for an identical ring to be purchased in the latter policy.

Note that you need to be prepared with all necessary information for claiming insurance on diamond rings such as your address, policy number, and diamond ring references. In addition, you will have to note the date the ring was stolen, and tell them how the theft or loss occurred.