A new diamond necklace is certainly one of the most exciting items you’ve ever owned. It is one of the few possessions that looks as expensive as it is. Everyone is wowed by diamonds, and you will turn heads no matter where you go.
The necklace itself may have cost tens of thousands of dollars, but that doesn’t mean your spending ends there. On the contrary. As with most expensive things, ownership is pricey.
The good news is that the associated expenses are not nearly as big as the original investment. They will cost you money, but these 3 unexpected expenses are crucial.
1. Jewelry Insurance
Your diamond necklace may well have cost as much as a moderately expensive car. However, unlike a car, it is incredibly easy to misplace. The clasp can break and it can fall off your neck, or someone might just snatch it. The risk of losing your diamond necklace is way too high to ignore the need for insurance.
Jewelry will only be covered by your regular renters or homeowners insurance policy if it is cheap and can be claimed like any other contents. For an expensive diamond necklace, you will need specific insurance coverage for jewelry. You will add this as scheduled personal property coverage. This simply means that you have specified it as a possession that needs extra coverage.
You should insure your diamond necklace the moment it leaves the store. If you have not insured it yet, do not risk wearing it out in public until the admin is completed.
2. A Home Safe
Now that you own expensive possessions that are easily stolen, you cannot simply rely on your regular security system. While there are excellent smart security systems available now, they may not be enough. If a thief knows or suspects you have jewelry, jewelry theft can take a matter of minutes. The thief might get in and out before security has a chance to arrive.
This is why it is so important to get a home safe. This cannot simply be a cheap portable safe, either. A portable safe can be picked up and carried away far too easily, even if you try and nail it down. You need a strong safe built into your structure.
A safe is an expense that is well worth it. You get the peace of mind that your jewelry is safe, and you can use it to store any new items you get that are particularly expensive. It comes in handy when you are away, as well, since you’re not using your most expensive possessions.
3. Professional Diamond Cleaning
Depending on the circumstances of your purchase, this may not actually constitute an expense. Many jewelers will clean diamond jewelry as a lifetime complementary service to buyers. You simply have to take it in regularly and let them do the work for you.
However, you may no longer live near the jeweler or their local branch may have closed down. Neglecting your diamond necklace only puts it at risk of the metal being tarnished. This is especially true at the places where parts join.
Paying for professional diamond necklace cleaning is a worthwhile expense if your jewelry is not around. You can follow DIY tips to clean it, but you’re dealing with such a precious object that this may not feel good enough. A cleaning will not cost you an arm and a leg in any case.
Owning a diamond necklace is both exciting and expensive. You need to take care of it, and since it costs so much, maintenance and security costs a lot as well.