Importance of Protecting Your Assets

To insure, or not to insure: that is the question and the answer is yes, always insure. Whether your engagement ring cost $1,000. or you inherited a $100,000 collection, it is important to discuss insuring your jewelry so you will be covered if something ever happened.

We know what you are thinking: can I afford to insure my jewelry? The answer is yes, there are many affordable options. Think about it, whether it’s an engagement ring or a family heirloom, a single piece or an entire collection, can you afford to replace them by yourself? God forbid,  that anything should happen to your engagement ring but life does happen, things get lost, stolen, and damaged. Having your jewelry insured is having the peace of mind that when life happens at least you’re covered. With that being said, we have devised a list of tips on how to protect your jewelry, the average cost of insuring your jewelry, and questions to ask your insurance agency.

Protecting Your Jewelry

  1. Have your engagement ring or jewelry appraised. Depending how many pieces you have in your collection, the average cost of an appraisal can range from $50/piece to $150/hour of appraising on bigger collections.
  2. Keep all of your jewelry receipts in case your insurance company needs additional proof of value and ownership.
  3.  Make sure that your pieces are insured for the correct amount. Depending on the quality or overall values of your estate, regular updates in value are a must to make sure your jewelry is properly insured. You should speak with your local jeweler or appraiser to find out how frequently this should be done. The last thing you want to do is make a claim and find out that your beautiful jewelry was underinsured.

Insurance Costs

  1.  Look into bundling your jewelry into your homeowners or renters insurance. When discussing jewelry coverage with your insurance agency make sure to ask them about comprehensive coverage such as accidental loss, stolen property, and mysterious loss. It is important to know what your insurance company will and will not cover.
  2. The average cost of a jewelry insurance policy ranges from $1 to $2 annually for every $100 that your jewelry is appraised. For example: you have an engagement ring that is worth $7,000, your insurance coverage should be in the range of $70 – $140/year. Keep in mind that some agencies are cheaper, so make sure you do your research.

 Questions to Ask Your Insurance Company

  1. Is my jewelry covered for full appraisal value?
  2. Is my jewelry only covered if it is stolen, not lost or damaged?
  3. How would we provide proof of the jewelry being lost, damaged or stolen?
  4. How will your company replace the jewelry? Will you pay us with a check or will you refer us to a jeweler and pay them directly for the replacement cost?
  5. Are there instances where your insurance company will not cover my jewelry?
  6. What damages won’t you cover?
  7. What are some options that you can provide us with to save money? Such as discounts, bundling, or any other ways that we can save while protecting our assets?

The Gems Of Cleveland

When you think of a Diamond Wholesaler your mind automatically goes to New York City or Los Angles not Cleveland… Our response to that thought  is it’s only logical to sell rocks in the city that rocks. Cleveland does rock.  Here at Bluestone Trading we have complied a list of attractions that only us locals know ” The Gems Of Cleveland”  and here they are.







1.) Ohio City Cleveland’s “Unofficial Brewery District”

Ohio City otherwise known as Cleveland’s “Unofficial Brewery District” is home to the best restaurants and bars. I suggest going to ABC Tavern or Hoopples. &

2.) Cedar Lee Theatre

Take a step back in time at the Cedar Lee movie theatre


3.) Sweet Moses Soda Foundation & Treat Shop

From ice cream soda’s to barrel floats and phosphates Sweet Moses is the place to go.

4.)  The Glass Bubble Project

Take a class at The Glass Bubble Project.


5.) The West Side Market

If you’re in Cleveland you cannot leave until you visit The West Side Market.

6.) The Corner Alley

Bowling & beer how could you say no? The Corner Alley is the place to go!

7.) The Great Lake Brewing Company

For the best craft beer in the Midwest look no further than The Great Lakes Brewing Company.

8.)  Leave a dime on  the tombstone of John D. Rockefeller

John D. Rockefeller an industrialist who created standard oil spent much of his life in Cleveland,OH. He is buried at the famous Lake View Cemetery where legend has it if you leave a dime on his tombstone that you will be richly rewarded. The tradition started after his death as he was known for dolling out dimes to children in need.

9.)  Playhouse Square

Home to the largest performing art center outside of New York. Go to to view showtimes and upcoming events at the Playhouse Square.

10.)  Walk on the Lower Level of the Detroit-Superior Bridge

If you want to see all of Cleveland the lower level of the Detroit- Superior bridge offers the best views in town