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Jewelers Block Jewelers Block Coverage Includes your merchandise and goods of others, goods on memorandum, travel, shipping coverage, trade show coverage, as well as salespersons lines. This policy covers losses typical in the jewelry industry such as burglary, robbery, sneak theft, fire, and water damage, to name a few. Protection is also generally provided for insured property at off-site premises, the wearing of jewelry by you or your employees while away form your business-which extends to any of the off premises limits listed in your policy, as well as the cost to hire a trained security guard in the unusual situation we require a guard due to alarm system failure; pays up to $1,000. Additionally, there is possible coverage for the cost to cover an accounting expense of an accounting firm that you hire at the insurance companies request to present a claim for property losses caused by covered perils- which can pay up to $1,500.
Coverage extensions can also include theft damage to buildings and coverage for certain transits on a limited basis. Additional protection against theft or attempted theft from show windows can be included. Optional coverage for money located in safes or vaults on your premises is also available.
This type of policy is appropriate for jewelers, manufacturers, wholesalers, pawn brokers, watch dealers, retail jewelry shops, and jewelry departments in department and other specialty stores.
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Jewelers Standard The Jewelers Standard policy is geared towards jewelry businesses that have maximum property limits of $500,000. The Jewelers Standard provides coverage for your inventory of jewelry stock for sale; primary coverage for customers’ property (from those not in the jewelry business) that has been delivered or entrusted to you; property of others in the jewelry business that has been delivered or entrusted to you (often referred to as memo goods). Additional possible coverage enhancements include the cost to hire a trained security guard in the unusual situation we require a guard due to an alarm system failure (can pay up to $1,000), and the cost to cover the expense of hiring an accounting firm at the insurance companies request to present a claim for property losses caused by covered perils (can pay up to $1,500).
Appraisers Liability/ Craftsman Policy Jewelers Mutual created this policy to meet the specific insurance needs of bench or repair jewelers, appraisers, and custom designers. This policy combines property, liability, and loss of income coverages to provide appropriate insurance protection without overlapping or unnecessary coverage. Property coverage includes owned jewelry, findings and materials for manufacturing and repair, buildings, furniture; fixtures; tenant improvements, machinery; tools; equipment, loss of income when your business is interrupted by loss or damage to real or personal property caused by a covered peril (excluding theft), property of customers (not in the jewelry business) that has been delivered or entrusted to you (primary coverage for customers' property is added to the policy), and property of others in the jewelry business that has been delivered or entrusted to you (often referred to as memo goods). The liability coverage includes bodily injury and property damage, medical payments, products and completed work, fire legal liability, and ear piercing liability. Various optional coverages are also available such as appraisal liability and employee benefits liability.
Businessowners Package The Businessowners Policy provides a custom-designed property and liability package that includes coverage for manufacturers, retailers, wholesalers,buildings, business personal property such as furniture, fixtures, tenants improvements, and loss of income when your business is interrupted by loss or damage to real or personal property caused by a covered peril, excluding theft. Additional coverages can include chemical cleanup caused by accidental spilling of chemicals used in the normal course of jewelry operations (includes the cost to repair or replace covered property, cleanup of chemical spills, and loss of income up to $10,000), and the cost to cover accounting expense of an accounting firm you hire at the insurance companies request to prove a loss of income claim caused by covered perils (pays up to $1,500). The Commercial liability coverage includes bodily injury and property damage, medical payments, products and completed work, fire legal liability (includes all perils), ear piercing liability.
Jewelers Enhancement Endorsement The traditional Jewelers Enhancement Endorsement is included in the Businessowners Policy for no additional premium. Three other enhancement options are available for manufacturing, retail, and wholesale jewelers. Choose the enhancement that best fits your particular insurance needs.
Equipment breakdown coverage This coverage is added to your policy to cover direct physical loss and resulting loss of earnings from equipment breakdown. Coverage includes physical damage to equipment such as electrical systems, business equipment (computers, copiers, etc.), telephone systems, heating and air conditioning equipment, and security systems, loss of earnings as a result of business interruption, extra expense to make temporary repairs or rent equipment, spoilage of perishable goods, and data restoration. An Optional Coverage Package is also available, as well as other optional coverages such as appraisal liability and employee benefits liability.
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Excess or Umbrella Liability Jewelers and manufacturers often need liability coverage in excess of the limits provided by their primary General Liability policy. Most entities requiring proof of liability want a $1,000,000 limit, but some locations will often require higher limits. An Excess or Umbrella policy can provide an insured with higher substantial limits. The policy covers liability for bodily injury and property damage, medical payments, personal injury, and products and completed works
Stock Floaters Jewelery manufacturers, retailers, wholesalers and assayers often purchase this insurance to cover precious metals, stones and other goods. We offer competitive policies underwritten by Lloyds of London.
Precious Metals Assayers, Manufacturers and Smelters purchase this insurance to cover operations, transport of goods and employee dishonesty. Coverage can include machinery, electronic data processing, equipment, furniture and fixtures, and raw materials. The policy is a combination of ocean cargo, inland marine, and personal property coverages. The premium is usually based on a rate applied to the insured's annual sales.
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