Can you insure a lab grown diamond? Appraisals on Lab Grown Diamonds
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Пікірлер: 5
@azzalchotani5451 Жыл бұрын
If my lab diamond is IGI certified is that appraisal enough?
@mjgabel
Жыл бұрын
Depends - Does the IGI cert state the value? Also, it depends on the insurance company and what they want. That may be enough, some like an actual appraisal written. Some will just go off the purchase receipt. My suggestion is always a 3rd party appraiser that is qualified. You never want to be under insured.
@simplyfabulous5355
Жыл бұрын
The simple way to say is, IGI certification states all the information about your lab-grown diamond. When claiming insurance, you are expecting to get the replacement lab-grown diamond with the same quality or closest specification if that's possible. Anyone can purchase diamonds from different resource, which is likely end up with difference purchase price. Therefore the value states on your appraisal become a very important indication for the insurance to covering your diamond.
@mjgabel
Жыл бұрын
@@simplyfabulous5355 Correct - We have unfortunately dealt with some bad appraisals through the year resulting in clients being UNDER insured. Some also over insured and have been paying a HIGH premium through the years. It is VERY important to find a qualified jewelry appraiser.
@socalifone3044
10 ай бұрын
Does the insurance company pay the insured party? Or do they pay a particular jeweler of their choice?
Пікірлер: 5
If my lab diamond is IGI certified is that appraisal enough?
@mjgabel
Жыл бұрын
Depends - Does the IGI cert state the value? Also, it depends on the insurance company and what they want. That may be enough, some like an actual appraisal written. Some will just go off the purchase receipt. My suggestion is always a 3rd party appraiser that is qualified. You never want to be under insured.
@simplyfabulous5355
Жыл бұрын
The simple way to say is, IGI certification states all the information about your lab-grown diamond. When claiming insurance, you are expecting to get the replacement lab-grown diamond with the same quality or closest specification if that's possible. Anyone can purchase diamonds from different resource, which is likely end up with difference purchase price. Therefore the value states on your appraisal become a very important indication for the insurance to covering your diamond.
@mjgabel
Жыл бұрын
@@simplyfabulous5355 Correct - We have unfortunately dealt with some bad appraisals through the year resulting in clients being UNDER insured. Some also over insured and have been paying a HIGH premium through the years. It is VERY important to find a qualified jewelry appraiser.
@socalifone3044
10 ай бұрын
Does the insurance company pay the insured party? Or do they pay a particular jeweler of their choice?