Jeweller’s Block

Overview

The policy provides coverage against various risk to which a jeweller is exposed to during their trading activities.

Perils Covered

  • Loss or damage to property whilst contained in the premises where the Insured’s business is conducted or other premises where the Insured’s asset is deposited from perils such as fire, explosion, lightning, burglary/shop-breaking, hold up, theft and riot and strike.
  • Loss or damage to property insured while being carried/conveyed outside the specified premises for the purpose of Insured’s business by any cause other than the specified exclusions under the policy. This cover will include the property under the custody of the Insured, his employees and persons not in the regular employment of the Insured such as brokers, cutters / polishers, or goldsmiths.
  • Loss or damage to office furniture, fixtures and fittings in the premises covered and safes at residence by fire, explosion, lightning, burglary / shop-breaking, theft and riot and strike.

Important Exclusions

  • Loss or damage during process of cleaning, repairing or restoring.
  • Property found missing during stock taking.
  • Loss or damage whilst the articles are being worn or used by the Insured, their partners, members of the family etc.
  • Articles whilst at public exhibition.
  • Theft or disappearance of property from road vehicles whilst such vehicles are left unattended.
  • Depreciation, wear and tear etc.
  • By theft and or dishonesty by Insured’s family members, servants, customers’ brokers, cutters, goldsmiths or their servants/agents etc.
  • Loss occurring outside the geographical area.
  • When the property leave the Insured’s premises for export/till the import property reaches the Insured’s premises.
  • Loss following the use of key or duplicate key unless such key has been obtained by threat or violence.
  • Window display after closing of business hours.
  • Earthquake, flood, cyclone etc.

Extensions Available

By paying additional premium the following perils can also be covered:

  • Jewellery kept in the window display 24 hours
  • Earthquake, flood, cyclone
  • Aritcles whilst at specific exhibition for a desired period