Insuring Diamond Nexus Ring?

by Anonymous
(USA)

My boyfriend proposed with a 2.0 carat diamond from Diamond Nexus Lab. Since it’s a diamond simulant, can I still go to a regular jeweler to get it appraised and insured?

Should I let them know beforehand? I’m afraid that they will tell me it’s worth nothing.....and that it is a CZ and that is fake. BTW, the ring is beautiful....

Hi,

Appraising a diamond simulant is usually not necessary, in most cases when simulant and synthetic diamonds are placed in rings the rings can be insured for their purchase or replacement price.

Paying for an insurance policy on a ring too is usually not recommended for rings that are valued at less than $1,000 dollars because most homeowner’s and renter’s insurance policies will cover jewelry loss up to $2,000 dollars without extra policies.

The value in your Diamond Nexus Lab engagement ring lies in the creation and cut of the simulant, the workmanship of the ring and the settings, and the value of the metal used in the band. So even though the ring is made with a simulant, it definitely isn’t worthless and DNL diamonds are not the same as cubic zirconia. Even a CZ ring though is not worthless, because again – there is value in the creation and cut of the simulant, metal of the band and any extra workmanship that went into its creation.

DNL diamonds too come with a lifetime guarantee. So if the simulants in the rings ever become damaged or loose they will be replaced minus a small fee for the setting work.

However, if you still want to insure your ring, it is possible to purchase and add a personal articles floater (PAF) policy to an existing insurance policy to specifically cover the ring. But always double check to see how much the PAF policy will cost you to make sure it is truly worth it.

The best advice is to keep the receipt in a safe and secure place, just in case you need to have the simulants replaced or if you need to provide proof of the original purchase price of the ring. And anytime you bring a simulant or synthetic diamond ring to a jeweler, let the jeweler know upfront what type of ring it is. Many jewelers admire the workmanship of quality diamond simulants, and no reputable jeweler would ever tell you that your ring is worthless.

Hope this info helps!

Suzanne