Jewelry Insurance

Can You Insure a Lab Grown Diamond?

Dustin Lemick


Dustin Lemick

The big question on everyone’s mind right

The big question on everyone’s mind right now is “Can you insure a lab grown diamond?” Laboratory grown diamonds have become more popular in the last few years, especially among younger people for engagement rings as well as for women making purchases for themselves. Their reasons for buying lab grown diamonds are straightforward: Lab grown diamonds are generally 40% to 50% less expensive than natural or Earth-mined diamonds, and their quality can match that of natural diamonds. As a result, consumers can typically get a larger lab diamond of the same quality for the same price they would pay for a natural diamond. You can see how much bigger it is using this handy free engagement ring cost calculator.

Lab-grown diamonds are 40-50% less expensive than mined diamonds with quality to match.

What You Will Learn

What are lab grown diamonds?

Lab grown diamonds, sometimes referred to as synthetic diamonds, are diamonds that are grown in laboratories both in the USA and across the globe. Lab grown diamonds have been around for more than 70 years, using a technique that mimics the earth’s process of heat and pressure on carbon to crystalize a diamond. While the first lab-created diamonds were not of high quality, about 10 years ago the technology improved to a point where we now have gem-quality lab grown diamonds readily available to the public.

How are lab grown diamonds different from an earth-mined diamond?

How are lab-grown diamonds different from earth-mined diamonds?A lab grown diamond, sometimes referred to as synthetic diamonds, is physically, chemically and optically the same as a mined diamond with some slight differences. The biggest difference? Natural mined diamonds are between two and three billion years old. They were formed over a hundred miles below the earth’s surface with extreme heat and under immense pressure. They are mined from deposits that were thrust up closer to the earth’s surface through volcanic activity over millions of years.  In contrast, a lab-created diamond can be made in laboratory in only a few weeks.

Should I get insurance for lab grown diamonds?

The answer is an emphatic yes! Any time you spend your hard-earned money on a luxury piece of jewelry you should make sure it’s protected with jewelry insurance. With the average lab grown diamond rings costing more than $4,000, you have a couple of options.

Any time you spend your hard-earned money on a luxury piece of jewelry you should make sure it’s protected with jewelry insurance.

You can add a rider or”floater” to an existing homeowners policy that will cover the replacement cost of your lab grown diamond ring, necklace or bracelet. You need to add a rider at additional cost because most homeowners policies will only cover a limited amount (about $1,000 to $2,000) under personal possessions coverage. Your rider will probably be subject to a deductible as well if you want to keep costs down.

Or, you can choose to get a specialty jewelry insurance policy from a provider that specializes in just jewelry insurance. BriteCo jewelry insurance, for example, offers worldwide coverage for loss, theft, damage or mysterious disappearance up to 125% of replacement value with no deductible.

How much does insurance for lab grown diamonds cost?

On average, jewelry insurance costs between half a percent up to three percent of a jewelry item’s appraised value to insurance every year, depending on your location. BriteCo insurance will cover a $5,000 engagement ring, for example, for under $5.00 a month which makes insuring your lab grown diamond very affordable. You can get a no-obligation custom quote online in less than 30 seconds to see how much it costs.  So there’s no excuse. If you buy a lab grown diamond ring be sure you get it insured!

Why BriteCo is your best choice for a jewelry insurance policy

BriteCo Jewelry Insurance covers insuring wedding rings, engagement rings, and other fine jewelry personal property. How much does jewelry insurance cost with BriteCo? Our jewelry insurance cost averages .5% to 1.5% of an item’s appraised value, or as low as $5 a month for a $5,000 ring. Backed by an AM Best A+ rated insurer, BriteCo protects the full value of your jewelry in the event of loss, theft, damage and mysterious disappearance.  If you file a claim, you avoid any out-of-pocket costs with our zero deductible policies while assuring you get up to 125% of appraisal value in a replacement ring. No need to add a personal jewelry insurance rider to your homeowners or renters insurance policy to protect your valuables when you can get specialty jewelry coverage from BriteCo that’s fast, easy and affordable. Get a quote at .

Also Check: 

How to Insure Your Jewelry | BriteCo Jewelry Insurance
Piaget Jewelry Insurance | BriteCo Jewelry Insurance
Best Custom Lab-Grown Diamond Engagement Rings
Disadvantages of Lab-Grown Diamonds | BriteCo Jewelry Insurance
The Best Lab Grown Diamond Rings | BriteCo Jewelry Insurance
Do Lab Grown Diamonds Pass a Diamond Tester?

Buying Guide:

The Secret to Diamond Buying: Natural vs Lab Grown



UP NEXT: How Much Does a Ring Appraisal Cost?

Dustin Lemick


Dustin Lemick

Dustin Lemick is the Founder and CEO of BriteCo and a third-generation jeweler with over thirteen years of retail jewelry experience. He holds a Graduate Gemologist degree from the Gemological Institute of America (GIA) and has in-depth knowledge and expertise in appraisal systems, diamond and gemstone markets, retail pricing models, insurance replacement models, and jewelry quotation pricing systems.