by VampireX02 » Mar 1, 2002 Now that everyone on here has helped convince me that my diamond is above average..which is what I was looking for (most of the diamonds I've looked at have been about the same range..so I was concerned that mine wasn't much better than average)...I have an insurance question. I'm having my diamond independently appraised for insurance. But since it's not set yet, the appraisal will be on the stone only. How does that work with insurance? Can I have the setting and stone insured as one item (the ring) or are these kept separate? What does the insurance company use to determine the value of the setting? Or should I have it appraised loose and then again once it's set? Loose for my use to make sure it matches the cert, and then again set for insurance purpose? Thanks.