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Rules for buying the perfect diamond ring

February 10, 2012 12:00:00 AM PST
Unless you're a jeweler, the average person probably does not know a lot about diamonds. But don't feel bad, a lack of diamond knowledge is pretty typical of most consumers.

Ruth Levy is with Gale Jewelers at Corona del Mar Plaza. She says diamonds are like snowflakes -- no two are alike, which is why comparing several is one place to start.

"Ask to see a selection of stones in your price range," Levy advised. "Often times what I'll do is that I'll show four different diamonds all in the same price range, or 10 different diamonds so they can see where their money's going."

Most of us have heard of the four C's: carat, cut, clarity and color. Levy said cut is very important for the sparkle.

No matter if you're buying diamonds or some other form of jewelry, there's one more thing that you need to know and that's to insure it and to insure it properly.

Candysse Miller with the Insurance Information Network of California said most homeowner's policies have a per item limit on jewelry, which is only $1,000 to $2,000.

"If you get a high ticket piece of jewelry, be sure to contact your insurance company and ask for a floater or a rider to accommodate the value of that piece of jewelry," Miller said.

Candice also recommends keeping a record of all expensive purchases.

"Always keep your receipts on high ticket items. It's very important. Think about scanning them and putting them with your home inventory file," Miller said.

With over $4 billion being sent on jewelry this Valentine's Day, it's important to keep these things in mind.