Jeweller's block insurance
Coverage provided is usually on an "all risks" basis. Most policies would include entrusted items, whether from clients or suppliers, within the stock sum insured. It is therefore important that the correct sum be stated in the policy.
The stock is covered at all times in the shop but must be locked up in a safe at night. A small amount of jewellery may be kept in some show-windows, but this sub-limit will vary depending on where the premises are located. Stock when carried outside premises will also be covered, up to a limit and restrictions as to whom may be covered when travelling with stock and where may apply. A survey of the premises and security measures will usually be requested by Insurers, which may lead to recommandations needing to be complied with in a certain time frame. Failing to do so may lead to Insurers cancelling cover.
Each year a new proposal form will need to be completed as details of the risk may vary considerably from one year to another.
Sendings are to be declared and only certain methods of expedition will be agreed to by Insurers: VD (declared value by La Poste), Chronopost, specialist transporters, etc. These sendings normally cover items sent by the Assured. It may be necessary in some case to also cover sendings returned by suppliers to the Assured.
Many sub-limits and options may be included in the policy, such as:
- Purchase of goods by stolen cheques
- No-claims bonus of the premium if there are no claims reported
- Assessor's fees following a claim
- Temporary proctection measures following a theft
- Exhibitions at trade fairs
- Replacement of loss keys (safe, show-windows, doors)
- Etc...