Can You Insure A Lab Grown Diamond

Selling diamonds can be a profitable business. There are several ways to make a profit off of selling diamonds. You can set up a storefront location, sell through online sites, or market yourself as a consultant.

Setting up a storefront location is the most straightforward. You will need to set up an account with an agency or broker where you can advertise your services. In this location, you set your prices and send out orders foriamonds at your cost.

The only guarantee that you have is that the stones you send out will look in your customers’ jewelry as cut and quality materials were used in producing them. Selling through online sites is similar to setting up an account and ordering from there.

You will have to create an account and then upload your pictures, accounts, and/or instructions for order placement and sending out orders.

How to buy a lab grown diamond

can you insure a lab grown diamond

When looking to buy a diamond, there are some important things to consider. First, there is the cut. The cut refers to the shape of the diamond.

There are four basic cuts: round, square, marquise and carat. Each of these shapes has its own unique look and can make a difference in price. The round is the most popular shape for diamonds today.

The square is less common as it can look more rectangular. The marquise is the rarest shape with only a handful of perfect squares in the world.

The last shape we discuss is the carat-shaped diamond. The carat-shaped diamond has more space inside it and looks more like a circle when cut vertically.

The differences between natural and lab grown diamonds

can you insure a lab grown diamond

When it comes to insurance, there are several differences between natural and lab grown diamonds. Most noticeable is the cost. As this is an extra cost, most companies charge more for the service.

Another difference is the affect of irradiation. When irradiated, diamonds have a different look and feel than unirradiated ones. This affects your insurance company and what they will pay for. Some companies will not approve irradiated diamonds due to lack of proof that they are authentic.

The last difference is in how much space a stone must be insured for. There are two different sizes of diamond-one slightly bigger and one smaller.

Price of lab grown diamonds

can you insure a lab grown diamond

As the demand for lab grown diamonds increases, so do the prices. This can be beneficial or detrimental, depending on your perspective.

If you look at it from a monetary standpoint, then it can be very beneficial. Because people are becoming more aware of the negative effects of cubic zirconia (commonly referred to as CZ) and lab grown diamond (LAD), companies are being forced to pay more for LAD.

However, in terms of helping the environment, this must be considered in full measure. Since LAD require more space to grow, they must be mined further and may cost more due to that.

Should you buy a lab grown diamond?

can you insure a lab grown diamond

Selling diamond jewelry is not for the faint of heart. There are very strict guidelines for buying a diamond, and it is almost impossible to find a spot in the market that does not carry at least one lab grown diamond.

Many times, luxury brands control production and release dates for their diamonds, making it difficult to purchase a natural diamond as new ones do not come out until they make a piece of jewelry collection complete.

This is why you must look for certified natural diamonds on sites like! Many times, these certified natural diamonds do not have the same qualities as their normal cousins.

However, when they are inspected by Cdndiamonds, they are given a grade of certification that makes them trustworthy.

Does insurance cover fake diamonds?

A question that many people ask is whether or not insurance covers a fake diamond. Insured diamonds are labeled as treated, which means that it has been made to withstand extended use.

Treated diamonds are considered safer than natural diamonds. With treated diamonds, you can be sure that the lab-grown diamond you are buying is been labor-intensively graded and paid for by its quality.

It is possible to purchase a non-lab grown diamond, however. Non-insurance grade non-treated diamonds may be available and sold. These can be valuable possessions to you!

You may want to look for a discounted non-insurance grade diamond if you plan to buy a high value item or have large expectations for the stone. Buying a cheap non-insurance grade diamond may help save you some money, but does not ensure quality or safety.

What is the process for getting insurance for your diamond?

can you insure a lab grown diamond

When you buy your diamond, you are supposed to get insurance for it. Most companies will cover a basic diamond insurance, but if you have an extra mine in your diamond, they’ll want to know what that means.

Basic diamonds can be evaluated and marked as paying or non-paying depending on where the cuts are located. A non-paying diamond might not have a spot where it is measurable, like a banding.

If you have a 1-carat princess cut, for example, then no policy will cover that. It has to be set at at least two carats of cut weight!

The information about insurance is usually stated near the policy document and in the coverage section. You can get some of these online if they have access to your personal information.

Who provides the best insurance for your diamond?

can you insure a lab grown diamond

Insuring your diamond can be very cost effective. There are several insurance companies that offer diamond insurance, and they vary in price and features.

Some offer yearly checks and updates on your diamond’s value. Others only cover your diamond if it is certified as a perfect fit for the customer. Regardless, you still have to pay for it!

Usually, the more expensive the diamond, the less affordable the insurance is. However, this does not mean that you cannot save money by having a lower-value gem insured. You just need to be aware of this before you buy!

Including a lab grown gem in your insured can save you even more money. Some insurance companies even do these checks at your place! Try doing some research today to find the best way to insure your diamonds.

What does insurance cover?

can you insure a lab grown diamond

Insuring a diamond is an expensive way to insure a lot of things. He or she would have to buy numerous copies of the diamond in case of loss.

A basic insurance policy can cover the following:

In-house lab analysis to determine if the diamond is rough or polished

To determine if the diamond is rough or polished Policy lengths and renewal dates

If a policy ends, then the stone must be graded and returned to the manufacturer for testing before being sold. This can take up to six months to return, ship, and receive approval.

When purchasing insurance, it is important to read and understand all policies in order to cover what you want to cover.

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