Owning a lab-grown diamond means you’ve likely done your research.
You know they’re real diamonds, just grown in a lab rather than pulled from deep within the earth. You appreciate the ethics, the sustainability, the sparkle. All very modern of you. But here’s a question most folks don’t think to ask: can a lab-grown diamond be insured the same way as a mined one? And perhaps more importantly, should it be?
Let’s be clear: insurance is not the most glamorous topic.
It doesn’t glitter. It doesn’t catch the light. But when you’re holding onto a piece that means something, both sentimentally and financially, protection is worth a look. The short answer? Yes, lab-grown diamonds can be insured. The longer answer? Not every policy treats them equally, and that’s where it gets interesting.
Here’s the thing.
Traditional insurers have been dealing with mined diamonds for decades. The processes are locked in. Appraisals, market values, historical data, all of it is in their playbook. Lab-grown diamonds, though? They’re still the new kid on the block. Gorgeous, yes. Disruptive, absolutely. But in insurance terms, they’ve got some catching up to do. That means policies may vary, and how much you pay to protect your sparkle could look a little different.
The good news:
In most cases, lab-grown diamonds are insured just like mined ones. Whether you’re going with a specialty jewelry insurer or tacking it onto your home or renters policy, you’ll likely need a receipt, an appraisal, and a few key details about the piece. But here’s where it gets a little murky. Lab-grown diamonds don’t always hold value the same way as their mined cousins.
Traditionally, mined diamonds have kept relatively stable resale values.
That makes it easier for insurers to figure out what it might cost to replace one. Lab-grown diamonds, however, are typically more accessible upfront and may not appreciate in the same way. So while they shine just as bright, your insurer might look at them through a slightly different lens.
So, what does this mean for you?
It means you’ll want to look closely at your policy. Are you covered for full replacement, or only current market value? Will your insurer replace the stone with a similar one, or write you a cheque based on their best guess? These questions matter. Ask them.
And then there’s the type of coverage.
Some people go the add-on route, attaching jewelry coverage to their existing policy. It works, but coverage limits can be tight. If your lab-grown diamond is high-value or emotionally priceless, a standalone jewelry policy might be the smarter move. These are built for fine jewelry, and they often include broader coverage like loss, theft, even damage from life’s little whoopsies.
While your receipt helps, a professional appraisal from a certified gemologist gives you a more accurate picture of your diamond’s worth. Cut, clarity, color, and carat, all the 4Cs come into play. It’s not just paperwork. It’s peace of mind.
Let’s talk real-world scenarios
You’re on holiday. You’ve just taken a dip in the infinity pool. Somewhere between the sunlounger and your third negroni, your ring vanishes. Or maybe you knock it against the corner of a table and feel that sinking feeling. A stone’s gone. With proper insurance, that heartbreak becomes a hiccup. You get it replaced. You keep the story.
Of course, some people skip insurance altogether.
That’s a personal call. If replacing the piece wouldn’t sting too much, fair enough. But if we’re talking engagement rings, heirlooms, or a self-love gift you splurged on during a quarter-life revelation, insurance starts to feel like a good idea. It’s not about expecting disaster. It’s about knowing you’ll be alright if it happens.
Don’t settle for the first quote that pops up on Google. Compare. Dig in. Ask awkward questions. The diamond world is evolving, and insurance providers are catching up. You want coverage that reflects your diamond’s value, both its monetary worth and what it means to you.
Because here’s the truth:
A diamond, whether mined or grown, is never just about cost. It’s about what it celebrates. What it remembers. What it promises. And anything that meaningful? That’s worth protecting.
Warmly,
Jack Carrotsworth
Your trusted diamond gent