Category: Fine Arts and Collectibles

Why Proper Appraisals Matter for Jewelry

Posted on by admin

It’s Valentine’s time and new engagements are in the air along with celebrations of years spent together. A visit to your local jewelry store for a new beautiful piece of jewelry to commemorate this time is on your calendar. You may have already decided you will get insurance to cover this precious piece of jewelry but how important is the appraisal?

It is crucial to provide an accurate and current appraisal of your jewelry to your insurance company to ensure you are covered properly. Essentially the appraisal acts as a reliable document to protect your investment in jewelry by ensuring you are adequately compensated in case of loss, theft, or when selling the piece.

There are five main reasons why jewelry appraisals matter. 

  • Insurance purposes
  • Estate planning
  • Selling jewelry
  • Loan collateral
  • Authenticity verification

Because markets do fluctuate it is a good idea to get updated appraisals, in particular when you are reviewing your insurance coverage, thinking of selling or would like to use a piece of high-end jewelry as collateral.  Discuss with your insurance agent when you do a review of your coverages whether now is a good time for a new appraisal. Make sure you get a detailed report from a professional appraiser and provide this to your insurance agent. Also check that your appraisal reflects the replacement value of the piece not the purchase price.

For questions and assistance with insurance coverage for your high-end jewelry contact Clockwork Insurance Services today. Call 504-262-8240 or email info@clockworkns.com

Protect What You Treasure and Your Investment with Fine Arts and Collectibles Insurance

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The renowned playwright and poet Oscar Wilde once said, "Life imitates art." This sentiment resonates with many who appreciate and collect art and other valuable items. Such individuals not only invest in these pieces but also cherish them deeply. That’s why people choose to protect their investments and passions with policies like fine arts and collectibles insurance. The team at Clockwork Insurance Services offers such policies to help people in and around the Metairie, LA, area safeguard their prized possessions.

Secure Your Treasures and Investments with Fine Arts and Collectibles Insurance

Fine art and collectibles often hold significant value, from your most cherished painting to limited edition doll collections and more. Protecting such valuable items is wise, much like any other substantial investment. However, items like art and valuable collections hold more than just monetary value; they often have personal significance that transcends dollars and cents. This dual value prompts owners of fine art and collectibles to protect their valuables with fine arts and collectibles insurance options.

Insurance Solutions for Fine Arts and Collectibles Owners in Metairie

If you live in or around the Metairie, LA area and have questions or would like to learn more about fine arts and collectibles insurance for your art or collectibles, we’re here to help. Contact us to find out more and schedule an appointment with our friendly and experienced team for the insurance solutions you need to keep your treasured items safe at Clockwork Insurance Services today.

5 Insurance Pitfalls Jewelry Store Owners Should Avoid This Year

Posted on by Tyler Wright

As a jewelry store owner, protecting your valuable inventory and business operations is crucial. However, navigating the complexities of insurance can be challenging. Here are five common insurance pitfalls to avoid this year to ensure your business remains secure.

Underinsuring Your Inventory

One of the most significant mistakes jewelry store owners make is underinsuring their inventory. The value of jewelry can fluctuate, and it’s essential to regularly update your inventory and your policy to reflect current market values. Failing to do so can leave you with insufficient coverage in the event of a loss.

Ignoring Specialized Coverage Needs

Standard business insurance policies often don’t cover the unique risks associated with jewelry stores. Ensure you have specialized coverage, such as jewelers block insurance, which protects against theft, damage, and other specific risks. Without this, you might find yourself inadequately protected.

Overlooking Employee Theft Coverage

Employee theft is a significant risk in the jewelry industry. Many standard policies do not cover losses due to employee dishonesty. Make sure your policy includes coverage for employee theft to safeguard against internal risks.

Not Reviewing Policy Exclusions

Insurance policies often contain exclusions that could expose you to unexpected risks. It’s essential to thoroughly review your policy to identify what is and isn’t covered. Common exclusions might be related to natural disasters, security requirements, or off-premises coverage.

Failing to Update Coverage with Business Changes

As your business grows and evolves, so do your insurance needs. Whether you’re expanding your inventory, opening a new location, or investing in new security systems, it’s crucial to update your insurance policy accordingly. Talk with your agent regularly to review and adjust your coverage to match your current business situation.

By avoiding these common pitfalls, you can ensure that your jewelry store is well-protected and prepared for any unexpected events. If you need personalized advice or a policy review, feel free to reach out to our team at Clockwork Insurance for expert guidance tailored to your needs.

I Love It! Should I Cover It?

Posted on by admin

The holidays are here—a season of joy, celebration, and unforgettable moments! Whether you’re planning to pop the question, unwrap a dazzling gift, or celebrate milestones with loved ones, this is a time when stunning jewelry often takes center stage. But as magical as the holidays can be, they can also bring unexpected risks to your cherished pieces.

Imagine this: You’re celebrating at a holiday party, showing off a new engagement ring or treasured heirloom, when it slips off unnoticed. Or worse, while traveling to visit family, you discover your watch or necklace has gone missing. These are moments when jewelry insurance transforms from a luxury to a necessity.

Why Insure Your Jewelry This Holiday Season?

High-value jewelry—like engagement rings, luxury watches, and family heirlooms—deserves special protection. Unfortunately, standard homeowners or renters’ insurance often falls short. Jewelry insurance offers comprehensive coverage designed to safeguard your most precious items, allowing you to wear and enjoy them with confidence.

The holiday season, with its flurry of travel, gatherings, and celebrations, is the perfect time to ensure your valuables are covered. Whether you’re dancing at a New Year’s Eve party or packing for a winter getaway, jewelry insurance offers peace of mind when it matters most.

What Does Jewelry Insurance Cover?

Here are just a few ways jewelry insurance protects your pieces:

  • Loss, Theft, or Damage: Coverage for accidental loss, theft, or repairable damage—so you’re not left empty-handed.
  • Worldwide Travel: Whether you’re skiing in Aspen or visiting relatives abroad, your jewelry can be insured wherever you go.
  • Inflation Protection: With fluctuating market values, policies can adjust to reflect your jewelry’s current worth (with appraisals).
  • Natural Disasters: Fire, floods, or other covered events don’t have to mean the end of your cherished items.

Tips for Safeguarding Your Jewelry

Before insuring your pieces, consider having them professionally appraised to establish their true value. For gifts, retain receipts or documentation for future reference. And during holiday gatherings, make a habit of storing jewelry safely when not in use.

Protect Your Holiday Joy with Clockwork Insurance

At Clockwork Insurance, we’re here to make sure your jewelry—and your holiday season—shines as brightly as it should. Coverage is more affordable than you might think, and our expert team can guide you through the process. Call us today at 504-262-8240 or email info@clockworkins.com to learn more about securing your most valuable memories

Be Prepared This Holiday Season

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As we approach the holidays our jewelers start stocking up on inventory. Hoping and anticipating a busy season of sales this is a proactive way to have what your next customer is looking for.  

In stocking up your stores you are also increasing the potential loss should the store be burglarized whether a “smash and grab” or a “grab and run” this is a good time to evaluate your asset protection.  Here are a list of recommended protections measures to consider.

-Show one item at a time.

-Keep showcases locked.

-Watch for those “casing” your store.

-Increase the number of employees on the floor when you have more customers in the store.

-Laminate your showcases. To laminate your showcases this slows down the ability for someone to use a hammer or other metal object to smash the showcase glass.

-Respond to every alarm. Anytime an alarm goes off go in person or send someone in person to check what set it off.

-Consider adding more cameras.

These are a couple of ways to ensure the holiday season is as profitable as it should be. For other tips and suggestions and to keep up with the current crime facts sign up the Clockwork Insurance newsletter: https://www.clockworkinsurance.com/crime-facts.html

Be prepared this season. Call Clockwork at 504-262-8240 for a review of your coverage.

Warranty for your Jewelry Store Customers

Posted on by admin

Offering your jewelry store customers the option of a warranty when they first purchase their jewelry is a convenience that can lead to greater customer satisfaction. As a jewelry store owner, you seek ways to improve the customer experience which in turn leads to more sales and happy returning customers. Jewelers Mutual offers their clients this service.  With the Jewelers Mutual Care Plan, you can present this as an added benefit and include it in the purchase price of the item or items.

A warranty offers your clients the protection they desire when investing in fine jewelry. This enhances the quality of the jewelry you showcase and ensures lasting satisfaction in the choice for your customer.  The Jewelers Mutual Care Plan covers not only manufacturers’ defects, but it also includes traditional wear and tear and accidental damage. 

Clockwork Insurance Services is here to assist you with your business. Our goal is to work with our clients’ and truly understand how to add to their success. We do this with careful review of their business needs and compiling an insurance plan that not only includes the coverage the client needs but also introduces options that hopefully improve the service they can offer to their customers.

Considering adding a warranty for your customers?

Call us at 504-262-8240 or reach out to us via our website: https://www.clockworkinsurance.com

For more details and frequently asked questions read more on this warranty option available to Jewelers Mutual clients here: https://www.jewelersmutual.com/jeweler-care-plan

Third Party Coverage: Do I need it?

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Another crash due to a third-party event has caused many small businesses to take a deeper look at what type of insurance coverage would assist in the event this affected their ability to keep the doors open.

Let’s take a look at exactly what this may mean for your business.

The CrowdStrike incident was not a ransomware or other malicious attack. It was simply an update that ended up causing computer systems worldwide to crash. This interrupted airlines, banks, hotels, hospitals, gas stations and many more. Some insurance carriers do offer coverage for when you have an outage that is due to a third-party incident that is essential to your operations. The CrowdStrike incident was one of the worst tech disruptions in history and an example of just how overreaching this can be.

Business interruption insurance only replaces income lost as a result of a disaster that directly impacts your company whereas contingent business interruption insurance replaces lost income when a company is forced to close due to a disaster impacting a third-party vendor or supplier.  For example, if a business relies on a specific manufacturing company to supply a part for equipment they service, and that company warehouse has a fire that puts them out of business then contingent business interruption insurance would be the policy that would cover this situation.

If a vendor or third-party that you rely on for your business experiences a cyber-attack it can affect your ability to continue your business. It can affect your income. This is where third party, cyber liability is necessary to recover your loss of income.  A careful review of your insurance coverage can reveal any areas you may need to fortify to ensure you are covered for this unfortunate circumstance. 

Clockwork Insurance agents can review your current policies and report exactly what coverages you have and what coverages you may want to consider adding to your portfolio.

Call us at 503-262-8240 or email us at info@clockworkins.com for more information.

Coverage Highlight: What Does Workmanship Coverage Mean For Your Jewelry Business?

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In the world of jewelry, craftsmanship is paramount. Skilled jewelers are dedicated to providing exceptional care and precision whether performing repairs, resizing a piece or cleaning cherished items. However, even the most meticulous artisans can encounter unforeseen issues. This is where workmanship coverage becomes crucial.

What is Workmanship Coverage?

Workmanship is a line of coverage that can be included in your jewelers’ block policy. It is designed to protect your jewelry business from the potential financial repercussions of accidental damage to customers items while performing repairs or maintenance that are in your care, custody or control.

Understanding the intricacies of jewelry insurance assists in your decisions on the coverage you need. Our team is committed to helping you navigate your coverage options, ensuring you understand the extent and limitations of your insurance. We work with you to tailor a plan that suits your specific needs, providing comprehensive protection for your jewelry business.

For more information or to get a quote on our jewelers block insurance, please visit https://www.clockworkinsurance.com and fill out the form. A representative will get back to you promptly.

You can reach us at: 504-262-8240.

Protect your jewelry business and give your clients the assurance they deserve by including workmanship coverage in your jewelers’ block insurance policy.

Contact Clockwork Insurance Services for a review of your policy.

Four reasons why you need fine arts and collectibles insurance

Posted on by admin

If you own fine art, it’s important that you protect its value with insurance coverage. Clockwork Insurance Services offers fine arts and collectibles insurance to consumers in Metairie, LA.

Here are four reasons why you need fine arts and collectibles insurance to protect your valuable possessions.  

Natural disasters can destroy valuable collectibles and fine art.

Your collectibles could be damaged or destroyed if a natural disaster occurs in your area. An insurance policy can reimburse you for losses due to damage to fine arts caused by natural disasters. 

You may need to travel with your expensive fine art.

Transporting your fine art may be necessary, but it can put your valuable items at risk of becoming damaged if you get in an accident. A fine arts and collectibles insurance policy will typically include coverage for losses resulting from travel. 

Fine arts and collectibles insurance gives you peace of mind. 

Without insurance coverage, you might be stressed about potential financial losses resulting from damage to your collectibles. You can avoid this stress by investing in the coverage that you need to insure the value of your fine art. 

Fine arts and collectibles insurance covers you if your fine art is stolen.

Unfortunately, valuable works of fine art can make you a target for theft. Insurance coverage can reimburse you if your fine art items are stolen or significantly damaged due to vandalism or burglary. 

At Clockwork Insurance Services, we’re happy to offer you the fine arts and collectibles insurance coverage you need. Call us today for a quote on a policy for your fine arts collection in Metairie, LA.

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