Posts Tagged ‘crime rate’
Insuring Your Diamonds
Insuring a diamond takes a bit of thought, planning, and shopping around. Diamond insurance isn?t like purchasing car insurance. It is quite different. Depending on the state that you live in, there are basically three different types of policies that will cover diamonds, and all insurance policies that cover diamonds are considered Marine type policies.
The first type of insurance policies for diamonds is an Actual Cash Value policy. If the diamond is lost or damaged beyond repair, the insurance company will replace the diamond at today?s market value, no matter how much you paid for the diamond to begin with. This type of insurance policy for diamonds actually is not that common.
The most common type of insurance for diamonds is Replacement Value insurance. The insurance company will only pay up to a fixed amount to replace the diamond that was lost or damaged beyond repair. This does not mean that they will pay that amount ? it means that they will pay up to that amount. In most cases, the diamond can be replaced at a lower cost.
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