Diamonds are a girl’s best friend…

Who doesn’t love a sparkler?

There’s nothing better than when that diamond catches the light in all the right places – or maybe I’m just a little magpie at heart who can’t resist shiny things!

And yet, as beautiful as they are, research has shown that an incredible 56% of jewellery owners are actually at risk of being underinsured.

This is particularly worrying in the current economic climate with the cost of living crisis, as the risk of wealthy jewellery owners being targeted for theft is a growing concern.

So being vigilant and protecting valuables is all the more important.

Natural diamond reserves across the world are depleting and lab-grown diamonds are becoming more readily available.

They’re so good now too that it’s almost impossible to tell the difference, so that makes proving the value of the diamond you own even more important.

A one-carat lab-grown diamond might be worth around £6,750 – but a one-carat natural diamond could be worth around £26,000! It’s a huge difference.

So it’s not difficult to see why over 50% of jewellery and watches could be underinsured.

And as a result, insurers may require documented proof of your diamond’s provenance and worth before they will add it to a policy or accept a claim.

Maybe it’s time to get yourself an authorised certificate from an approved valuations company that will give you a clear description of your diamond, the materials and stones used, the cut, the clarity and the carat value?

And make sure your jewellery and watches are stored in a sturdy safe that has been installed by an approved and recognised safe installer.

Any jewellery or watches that you have that have diamonds on them should be regularly valued too and the insurance adjusted accordingly.

Diamonds really are a girl’s best friend – whether they’re natural or lab-grown – and let’s be honest, no-one will be able to tell the difference!

Keep sparkling!

Elsa.