Jewellery Insurance
Providing the best insurance policy to customers.
Protect : Your shop with “Jewellers Block Policy”
Sec 1 . : Stock on premise
- Coverage – Fire, Burglary, Theft,
- Note -Full insurance, Stock in safe
- Exclusion – Duplicate keys, fidelity, Negligence.
Sec 2 (a) .
- Any loss at karigar place.
- Any loss while in travelling by karigar. affidavit
Sec 3 . Angadia/Logistic
BVC,SEQUEL and Angadia loss cover.
Sec 4 . : F. F. F.
- Furniture loss by fire
(Reinstatement value) - EQ /FST/RSMD/ Terrorism
Sec 5 . : Cash in transit
- Any loss of cash in transit cover.
Sec 6 (a) . : Fidelity Guaranty
Dishonesty done by your own staff.
Sec 6 (b) . : Third Party Karigar
Dishonesty done by your own karigar .
Warranty Sheet
I. EXCLUSION -JB Policy does not cover the following:
- 1) Any theft in which you have kept your stock unattended in your Car, Bus, Train or Hotel Room etc.
- For Example :Rameshbhai kept his Stock bag in the bus and went outside bus for breakfast / toilet etc.(not covered)
- 2) Dishonesty, Fraud, Theft done by Employees or if they are involved in a theft, it is not covered. (Take Employee Fidelity Policy)
- 3) Dishonesty or Fraud done by your Goldsmith, Angadia, Logistic Company.(Take additional 3rd Party Fidelity Guarantee Policy)
- 4) Loss of stock carried for Exhibition, Export or at Exhibition site.(Take additional Exhibition Policy)
- 5) Theft of the stock which was outside the safe after business hours.(Cover it by giving additional premium)
- 6) Loss due to use of duplicate keys unless such keys are obtained by threat or violence.
- 7) Hypnotism & stock missing at stock taking is not covered.
- 8) Section 4 Furniture & Fixture – Only those FFF & Content covered which are in our Book of Accounts. Thus Please takes full value of your FFF & Content in your policy on current market value otherwise under insurance will be applicable.
- 9) Section 4 Does not cover breakage of glass, Internal Burning(Implosion) of electric equipment etc, Neon sign board as per market value (Take separate policy)
- 10) Negligence part not covered in insurance policy thus ask your employees, goldsmith, logistic companies & other third parties contractors to travel with your goods in a proper manner.
II. INSTORE SAFETY TIPS:
- 1) After Business hour or if you are closing the shop for lunch, it is compulsory to put your whole stock in your safe.
- 2) Please install security systems like burglary alarm with Panic switch,24*7 CCTV Recording with 7 days online cloud storage and 30 days offline storage.
- 3) Take insurance for full value i.e. Own Stock + Third Party Stock or incase of claim, your claim will be deducted Ratio wise.
- For Example : Jeetubhai has a stock of Rs. 3 crores but has taken an insurance of only Rs. 1.50 crore. So if he ‘suffers a loss of Rs. 1 crore then he will get only 50% claim, it means Rs. 50 lacs.
III. SAFETY MEASURES TAKEN FOR TRANSIT
- Below is Our personal suggestions which are Not Compulsory but Important.
- 1) For outstation traveling send minimum two persons
- 2) Use hard board bag and anti theft Bags while traveling which cannot be
- cut by Cutter.
- 3) Always lock the bag with Iron chain
- a) Do not put all jewellery in one bag, It should be divided into different bags.
- b) Do not keep Bullion and Cash in bag, it should be kept in your Inner Jacket.
- 4) TRAIN : [Always travel in AC Reserved Compartments].
- 1) In Day time, Bag should be locked with chain and kept below the seat with feet touching the bag.
- 2) At Night i.e. sleeping time, Bag should be locked with chain and kept below your head or someone should be awake.
- 5) BUS :
- 1) In the bus, always keep your bag with the locked chain between two legs.
- 2) Avoid use of local and passenger bus while traveling, always travel by luxury bus.
IV. Documents required – at the time of Claim:
- Police F.I.R. and Final Investigation Report
- Serial Number-wise Traveling Voucher, Bank statement, Stock Register.
- Make payment/salary to your employees by Cheque and also make their
- Court Affidavit. (I.M.P.)
- Give stock to known and renowned logistic company & Angadia.
- 3RD PARTY GOLDSMITH INFIDELITY DO’S AND DONT’S :
- 1) KYC – Please keep complete details of your Goldsmith like Adhar card etc – Take His market reference and also visit his premises and take physical stock taking.
- 2) Labour Voucher – Please issue and get goldsmiths sign on all the Issue vochers.
- 3) PAST RECORD – To get claim it is very important to Prove that you were working with that goldsmith for a long and consistent duration thus please pay Labour charges to goldsmith via Bank transfer etc and Deduct TDS.
- Do not pay Labour in form of wastage – Do not do Sales transactions with them – Also avoid doing big transaction with New goldsmith.
- 4) Manufacturing Cycle – Do not keep the stock with your goldsmith for a long period say if it takes 15 days for jewellery to manufacture but even after 30 days the goldsmith is Not returning goods please send a person and take physical stock – Ask him to return good and do nil balance once- if he delay please inform us and insurance company.
- Police FIR Is Compulsary For any Claim.- Keeping gold deposits or giving gold loan is not covered in the policy.
- 5) Third Party Fidelity is restricted as per your Jewellers block coverages.
V. CHANGE IS IMPORTANT :
- Do not keep anything constant i.e. change the regular timings of going to bank, rotate the responsibility of staff to travel with stock, change traveling bag, traveling route, showroom lock etc regularly. Do not do anything with a declared plan and with fixed schedule, it will surely reduce the probability of loss.
- At the time of claim please do not panic & call our claim department first
+91 9323785908, +91 9969387734, +91 8446133358