Insuring Your Diamonds: What You Need to Know
Insuring Your Diamonds: What You Need to Know When it comes to protecting valuable possessions like diamonds, it’s important to consider getting the right type of insurance. Unlike car or home insurance, diamond insurance is a specialized coverage designed to protect against theft, loss, or damage. Depending on where you live, there are three main types of insurance policies available to cover your diamonds. Types of Diamond Insurance Policies 1. Actual Cash Value Policy An Actual Cash Value (ACV) policy replaces your diamond at today’s market value, regardless of how much you originally paid for it. However, this type of policy is not common and may not offer the full value of your diamond in the event of a loss. ...