Category: Jewelers Block Insurance

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.

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.

Introduction to Jewelers Block Insurance: What Jewelers Need to Know

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Safeguarding Your Jewelry Business with Clockwork Insurance Services

As a jeweler, you handle a variety of valuable materials, from breathtaking gemstones to precious metals. Despite practicing caution when transporting and handling these precious items, they could still be damaged, lost, or stolen. Jewelers’ block insurance is a specialized form of coverage designed to protect against physical loss or damage of jewelry, precious metals, and other valuable stones associated with the jewelry trade. At Clockwork Insurance Services in Metairie, LA, we offer personalized coverage to protect your valuable inventory fully.

What Does Jewelers Block Insurance Cover?

Jewelers block insurance is a specialized coverage that protects a jeweler’s inventory, whether in transit or on-premises. It offers comprehensive protection against risks like damage, theft, and loss of diamonds, gemstones, precious metals, and other jewelry pieces. This insurance can consist of several key elements, including:

  • In-Transit Coverage: Jewelry is protected while it’s being transported, be it from suppliers to your store or from your store to customers.
  • On-Premises Coverage: Insurance protects jewelry kept on-site at the store or workshop from covered perils such as fire or theft.

Some policies may also extend coverage to protect jewelry displayed at trade shows, exhibitions, or other temporary locations.

Choosing the Right Insurance Policy

Selecting the right policy can be critical in protecting your jewelry inventory. When selecting jeweler block insurance, consider the value of your inventory and any unique risks your business might face. Collaborating with an experienced insurance agent who understands the jewelry industry can ensure you obtain a policy tailored to your unique needs.

Contact Clockwork Insurance Services for Your Insurance Needs

For more details about jewelers’ block insurance, call 504-262-8240 to speak with our knowledgeable agents at Clockwork Insurance Services in Metairie, LA. We’re here to protect your brilliant business.

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.

Are you covered for the surge in gold & silver prices?

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As a jewelry store owner or precious metal collector you may have taken notice of the increase in prices for gold and silver. This has ignited a sudden increase in the purchases of gold and silver by the public. From an insurance perspective this leads to the question, do I have the coverage I need today?

At Clockwork Insurance Services we can review your policies to ensure that you are covered for the additional costs involved should you have a claim during this higher market value time.

Don’t risk being underinsured. We are ready to customize a comprehensive insurance solution to safeguard your assets in these dynamic times. Take a look at our website for more specific information about jewelers’ block insurance options: https://www.clockworkinsurance.com/jewelers-block-insurance.html

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Four Ways to Secure Your Jewelry Store

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Optimizing Security for Jewelry Store Owners

As a jewelry store owner, your store houses many precious and valuable items, making security paramount. Here are some practical ways to bolster your store’s security and ensure seamless operation of your business:

1. Implement a Sophisticated Security System

A top-tier security system is crucial whether you own or rent the property where your jewelry store is located. If absent, it is recommended to install a system that is remotely accessible, notifies you when a window or door has been breached, and connects directly to your phone.

2. Reinforce Cybersecurity Measures

In addition to physical visibility, your store likely has a considerable digital presence, given the extensive customer data collected during transactions. A robust cybersecurity system is essential to ensure the security of such sensitive data. Such a system can protect customers and safely store their information during payment transactions.

3. Establish a Two-Person Policy

Operating a jewelry store alone can be risky. A two-person policy can be implemented to mitigate this, wherein two individuals are present while opening and closing the store. Such a policy helps scan the surroundings for potential threats before unlocking the doors. During business hours, maintaining a minimum of two employees on the shop floor can help oversee potential theft while serving customers efficiently.

4. Invest in Enhanced Display Cases

Reinforced glass display cases can be used to discourage potential theft. While maintaining visibility for customers, such cases are harder to break into, effectively reducing the chances of theft.

Are you in the Metairie, LA, area and in need of a quote for jeweler’s block insurance? Contact our proficient agents at Clockwork Insurance Services.

Shopping for Jewelry? Protect your investment.

Posted on by Tyler Wright

You just absolutely love the ring!

This necklace has so much meaning and sentimental value to you and your family, as it was passed down from your great grandmother. These are feelings we understand.

Clockwork Insurance can cover that jewelry and ensure your concerns about loss or theft are calmed. To get a quote on what your jewelry insurance will cost, go to our home page at: https://www.clockworkinsurance.com and simply choose Personal Jewelry Insurance in the “Request a Quote” drop down menu then hit QUOTE IT. It really is that simple. You will fill in a form with basic information and we at Clockwork Insurance will take it from there.

Did you know that most homeowner policies have a cap on jewelry coverage? Purchasing insurance for your precious pieces is a way to ensure you can enjoy wearing them with the confidence of protection, should something happen. Whether lost, stolen, damaged or just mysteriously disappeared, you can be covered.

There are two basic types of coverage to consider. You can cover your jewelry with reimbursement coverage or with replacement cost coverage. If you are interested in reading about the types of coverage available you can check out this article on the Jewelers Mutual site: https://www.jewelersmutual.com/the-jewelry-box/how-does-jewelry-insurance-work-replacement-vs-reimbursement .

Feel good about buying that perfect piece of jewelry to show your loved one how you feel. Jewelry Insurance coverage is more affordable than you think and helps with your peace of mind.

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