I have had a previous diamond ring insured for the last 25 years. No loss and over the years had I saved what I paid for insurance I could have bought another ring! I was talking to my local jeweler (before I found great online sites)and he told me of a client who had purchased several pieces of nice diamond jewelery for his wife and for the last 10 years realized he had paid $20,000 for peace of mind. Just like me , his wife had no loss. I think it is worth thinking about it that way. I am fairly careful and I know that others may be more haphazard , play extreme sports, maybe live in high crime areas that should buy it but for those like me that have a good track record of keeping up with things, maybe consider how much you are saving (in the event you pay for years like I did) 
