7 Things you need to know about Gems and Precious Stone Jewelry Insurance

Gold jewelry with gems at showcase of jewelry shop

Diamonds are  the most valuable gemstones in the world. Diamonds are diamonds that are carefully honed to produce a very beautiful sheen. Diamonds will only scratch with other diamonds.

Valuable objects that fall into the category of jewelry and precious stones include engagement rings (Engagement Rings), diamond jewelry (Jewellery ), watches (Watch), diamond rings (Diamond Ring), Safe Deposit Box An tique , art objects (Fine Arts ), luxury bags (Had Bags), bicycles (Bicycle}, camera, musical instruments (musical instruments)

Besides being used as jewelry, the above objects can also be inherited, even for investment . Diamonds come from the hardest rock on earth buried within approximately 100 km. While still in the bowels of the earth, its shape is still in the form of hard rocks formed from carbon. Diamonds are very rare objects.

The rarer and more beautiful a diamond is, the higher its value. The uniqueness and beauty of a diamond is based on ratings known as the four C’s: Color, Clarity, Carat and Cut (color, clarity, carat and cut).

Because diamonds and other precious stone jewelry are very expensive, therefore the risk faced by the owner is also high. The main risks faced include theft, demolition, robbery. In addition, there is also a risk due to breakage, damage, loss, fraud, fire, drift and many other risks.

One solution to overcome this risk is to insure the precious stones. But unfortunately because the risk is too high, not many insurance companies in Australia can provide insurance coverage for jewelry. For that you need help from an insurance brokerage company that has access to insurance companies abroad that have the ability to cover these risks.

To find out more about diamonds, other jewelry and matters related to, danger, risk and insurance, here are some facts you need to pay attention to:

  1. Diamonds as an investment tool
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The advantages of diamonds compared to investment facilities, at the same time diamonds can also be used as accessories that can lift the owner’s self-esteem. In addition, diamonds also have a sale value with stable profits. Diamond price movements are not as dynamic as other investment products. The advantage of diamonds is that they are easy to carry and invest in beauty.

  1. Diamonds as jewelry

Diamonds have always been the prima donna of all existing accessories and jewelry. Although this diamond-studded jewelry has a high price. Usually people choose the type of jewelry that has diamonds because of many things, including the shape of diamonds or diamonds that are beautiful and attractive and increase one’s prestige.

  1. Diamonds for collection

Diamonds as jewelry also serve to increase prestige. Those who own diamonds like other types of luxury collectibles indicate a special and exclusive class of society. Only certain people can have it.

  1. Diamonds show social status

Diamond wearers indicate their social class. The purchase price of diamonds is very high, so not just anyone can have them. Although not all of them, many also use diamonds to show their social status, and become a place to show off their wealth and abilities. To increase prestige, prestige and prestige and make people more respected because they have a high social status.

  1. The risks that can occur in valuable jewelry

For jewelry, there is an age factor where the price of jewelry can go down according to the official price calculation which is usually used as a benchmark. Although diamonds are one of the hardest naturally occurring substances found on earth, it turns out that they can also be easily damaged by drops and impacts, especially if they are not in their original shape, for example if the diamonds are in pairs. After an accident, the stone can fall out of the ring and need repair at a specialist jeweler’s shop and that costs a lot of money.

  1. Theft and Robbery
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When wearing your ring, you run the risk of having your ring stolen. Jewelry items are items that are most sought after by thieves and are most likely to be stolen. A jewelry insurance policy will protect you from theft in the event of a claim. For protection when not in use, you should store it in a safe in your home. Over time, the stones in the rings can come off and if they fall, they are easy to lose, especially the smaller ones that may be on the shoulder or attached to the band of the ring.

  1. Worldwide Risk

Since jewelry owners are most likely to travel to different countries, there is a potential risk of loss, theft and robbery in the destination country. For that you need insurance coverage that can provide coverage anywhere in the world and has no country restrictions and does not need to tell you about your travel plans. You can travel as often as you like.

Diamond ring and other jewelry insurance policies can be issued as a stand-alone insurance policy, such as for engagement rings or eternity rings but can only be provided by certain insurance companies.

Jewelry insurance policies are specifically designed to cover the items you value most. An insurance policy that provides extensive insurance coverage, with some limitations or conditions, specifically for diamond rings that are often worn continuously.

A good jewelry insurance policy can cover worldwide risk, this is the form of personal property protection you need. Provides all the coverage you would expect in an insurance policy designed to cover valuables such as; accidental damage, theft and loss. When handling claims and replacing goods.

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For diamond ring insurance that is of very high value, the insurance company will consider looking at each case based on its benefits, many insurance companies have special considerations for valuations that are well above the average price.

Centrestone Jewellery Insurance is here! While you may not think so, Jewellery Insurance is becoming increasingly popular as time goes by, as people are now given the option to protect specific and special pieces of jewellery.

How much is your ring worth? Ratings are usually based on the price of a new ring but you should seek to renew the price at least once every few years. To address any loss due to loss or damage to an item, it is important to perform an accurate assessment so that the insurance company can replace the item accordingly for you.

Thus our explanation of jewelry insurance.

Currently, many Australian have jewelry in various forms. According to an insurance partner from Singapore, according to survey results, Australian are among those who have the most expensive jewelry in various forms. But unfortunately they have not taken advantage of insurance coverage as an alternative protection for these high-priced assets.

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