WHAT IS JEWELLERS BLOCK PROTECTOR?

It is very simple Insurance Policy like Mediclaim covers us for unfortunate medical expences.The Jewellers Block Protector covers the Risk of Wholesalers, Retailers & Manufacturers whilest Stock is kept in Safe. Travelling with stock in or out of town, etc. Transit of stock through Postal Services, Angadia, and Air freight, furniture fixtures are also covered.

SECTION I
A) Stock on the premises.
B) Cash & Currency.
C) Outside Safe stock (After Business Hours)

SECTION II
A) Transit (Owner/Director/ Partner/ Employee)
B) Gold smith (Agent/ Brokers/ Cutters)

SECTION III
A) Air Freight (5%declaration)
B) Angadia
C) Post Parcel

SECTION IV
A) Furniture

SECTION I
A) Stock on the premises: Insurance Company covers the Risk of full stock on the premises. Out of your total stock some stock may be in display window, in Showcase, anywhere in shop during business hours. We prefer to take insurance for Stock on the premises to avoid the complications at the time of claim.
B) Stock in Display Window: It means Insurance Company cover the risk of stock which is in Display Window.
C) Stock in Locked safe: It means Out of Total stock some stock may be kept in Locked safe during business hours.
D) Cash & Currency: Cash in shop is cover.
E) Outside Safe Stock (After Business Hours) : Insurance Company cover the stock which is Outside Safe after Business Hours if we mentioned it in proposal form.

SECTION II
A) Transit: Insurance Company Cover the Risk during travel with metal stock from shop to anywhere in India.
B) Goldsmith: Gold lies with goldsmith for karigari purpose is covered. But if goldsmith ran away with gold is not cover.

SECTION III
A) Air Freight: Insurance Company cover the transit by Air Cargo i.e. If XYZ Jewellers want to sent some stock by Jet Airways from Mumbai to Kolkata, Insurance Company take risk between Sahar Airport, Mumbai to Dum Dum Airport, Kolkata.
B) Angadia: Angadia means a person or an organization that carries gold ornaments personally & deliver it to the said place. If ABC Jewellers want to sent 500 Gms Gold Ornaments to XYZ Jewellers in Hyderabad. Angadia’s person carries that 500 Gms Gold Ornaments & personally delivered it to Hyderabad by Bus, Rail or Air Cargo journey.
C) Post Parcel: It means Sent Gold through Post Office.

SECTION IV
A) Furniture/ Fixtures/ Fittings: Furniture in the shop, Fan, Computer, Air Conditioner, Molds & Models, Plant & Machinery, etc can be covered in a Jewellers block policy from Fire etc.

SCOPE OF RISK COVER: Standard Fire & allied perils, Hold up, Housebreaking, Theft, Burglary, Robbery, Shoplifting, Riot, Strike, Malicious damage, Earthquake, Flood, Storm, Tempest and other related risk.

ALL RISK POLICY/EXHIBITION POLICY
Any wholesaler/ Manufacturer wishing to promote their business at exhibitions/ trade fairs may insure items for travel to & from the exhibition venue as well as during their stay.

CASH INSURANCE POLICY
In this policy Insurance company cover the risk of cash in shop & cash in transit i.e. cash deposit in bank, travelling with cash for purchasing some metals from Zaveri Bazar, etc.

IMPORTANT EXCLUSIONS OF JEWELLERS BLOCK PROTECTOR.
1. Theft or disappearance of stock where the said stock was kept unattended in a vehicle, hotel room or any other places.
2. Stocks kept in exhibition or in transit to or fro exhibition.
3. Loss or damage to property where insured intends to export
4. Stock kept outside safe at night if it is not covered.
5. Cheating done by your employees or family member where in that person he does fraud or theft or help other to do so.
6. Loss due to duplicate keys of safe unless such keys are obtained by threat or violence.
7. Stock missing while stock taking.
8. Any losses due to your mistake or negligence.
9. Loss due to earthquakes, terrorist, flood etc if such peril is not taken.
10. Loss or damages due to legal activities of government, police or any legal authority like confiscation nationalization etc.

PRECAUTION TO BE TAKEN
1. Sending two employees for traveling is advisable.
2. Transit should be point to point & secret.
3. Goods should not be kept unattended in bus, train, hotel room etc.
4. Employee should be given salary by Cheque.
5. While traveling plastic molded bags or briefcase should be used for long journey and they should be locked with thick iron chains.
6. It is better if you can preserve train, bus tickets.
7. Issue receipt & traveling vouchers should be preserved.
8. Take insurance for the full amount of stock.
9. The safe should be of Standard make (Fire & Burglary proof) and keys should be removed outside the office at night.
10. At the time of claim contact your agent first.