Diamond Guarantees

[MathWiz579]

I hate having doubt in my mind about this stuff, but the diamond I bought today (1.76 ct. Princess cut) did not come with any sort of guarantee from the jeweler except that when I get it appraised if the specs come out different that what the jeweler said (it was an uncertified stone), then I could take it back for a refund. This jeweler is reputable and has been in my area for quite some time, but it just phases me a bit that I don't have a "lifetime guarantee" on the diamond. Is this something that I should be worrying about?

 

[pricescope]

Most of the jewelers offer inspection period. Some trade up and/or buy back options.

Very few offer lifetime guarantee but that would be included in your price. Sort of extended warranty.

Many people just insure their diamond rings to have a peace of mind.

 

[MathWiz579]

By insuring a diamond, would you just insure it against "loss or stolen" or for "chipping, cracking, etc... and loss and stolen"... when getting it insured by a third party?

 

[Garry H (Cut Nut)]

Generally you take an all risk cover.
It covers everything.

It is less costly to insure for theft from home etc.
Speak to your broker, or contact Chubb insurance.

 

[MathWiz579]

Do you think for insurance purposes I should get the diamond independantly appraised or should the numbers I have from my jeweler be fine for that? Also, with most independant appraisers, if I already have the ring in a solitare they should be able to take it out, appraise it, and put it back in, correct?

 

[Garry H (Cut Nut)]

Most ins co's want an appraisal either from the retailer or someone.
there is a list on the link at top of page if you do not have one from the retailer.

Give appraiser the retailers info and they will not need to take the stone out.

 

[Richard Sherwood]

It's not a good idea to take a stone out and put it back in anymore than you (absolutely) have to. I would recommend not doing it at all. An appraiser can usually get all the info he needs while the stone is still mounted. An exact weight from the retailer (if he weighed it loose) is helpful.

Rich, GG
Sarasota Gemological Laboratory