I would never buy a diamond because I can't tell the difference between a diamond and a piece of glass. I was always told to never invest in anything that you don't understand, and I have always followed that rule. I agree that you should reconsider the insurance policy because, if that diamond is really worth $15,000, they would not insure it for only $150 per year. I don't think insurance companies will insure anything for one percent of value.
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