Who can buy a jewellery block insurance plan?

Jewellery block insurance plan provides coverage to people dealing in the business of precious gems and stones. Therefore, the plan offers financial protection to owners of jewellery stores, manufacturers, wholesalers, and retailers.

What details do I need to submit to buy jewellery block insurance plan?

Following are the details that you need to submit to buy jewellery block insurance policy: Occupancy type Location of the shop Coverage period Sum assured under each section Transit details Add-on covers required Claim history for the past 5 years Underwriter raises further queries depending on the requirement

What add-on benefits can be purchased with jewellery block insurance plan?

The policyholders of jewellery insurance policies can buy additional benefits to enhance the coverage of their base policy. You can select from the following add-ons: Safety deposit box Trade shows benefit Exhibition benefit Zero deductible benefit

What does jeweller valuation mean?

A jewellery valuation is a document that provides detailed information and a value estimate for the jewellery piece. The value is a judgment that depends on the present market conditions.

What are the main reasons for the denial of jewellery block insurance policy?

The insurer can deny a claim for your jewellery block insurance plan if you submit fraudulent information or if there are no provisions to safeguard the property.

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Jewellery Block Package Insurance

Jewellery block package insurance plan is a commercial plan to protect precious gems and stones. The plan can be customised as per your business's needs and convenience. To put it simply, you can secure your entire jewellery business from risks like theft, burglary, fire, and more under one single insurance plan.

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What is Jewellery Block Package Insurance?

It is traditional to wear jewellery and ornaments in India. Whether it is a wedding or a festival, people consider gold and other metals auspicious. Additionally, many individuals consider jewellery a great investment option. Due to this fact, the jewellery business is admirable in India. However, the business has certain risks associated with it. This risk can be theft, robbery, or burglary of gems, stones, and metals.

Now you must be wondering what measures to take to protect these precious stones and metals. The best way is to buy a jewellery block package insurance plan. It is an insurance policy that provides financial protection to individuals who deal in jewellery business. These can be either manufacturers, wholesalers, or retailers.

The insurance policy works similarly to other protection plans. The policyholder pays a premium in exchange for coverage. Additionally, you can customise your jewellery block package insurance by purchasing add-ons just like any other plan.

Benefits of Jewellery Block Package Insurance

Following are the benefits of purchasing a jewellery block package insurance plan:

Comprehensive Protection: The plan provides comprehensive protection to the policyholders. It provides protection against loss or damage that happens to the jewellery or other ornaments due to theft, burglary, robbery, or fire.
Customise Easily: One of the major benefits of purchasing a jewellery block package insurance policy is that it can be customised easily. The policyholders can buy add-ons with their base plan to enhance its coverage.
Competitive Prices: Many insurers in India provide jewellery block insurance plans. You can compare different quotes on the basis of coverage and the premium of the policy. Select the plan that provides a wide scope of protection at a cost-effective premium.
Financial Security: It is crucial that you buy jewellery block package insurance as it provides financial security and peace of mind when you need it the most.

Frequently Asked Question

1
Who can buy a jewellery block insurance plan?
Jewellery block insurance plan provides coverage to people dealing in the business of precious gems and stones. Therefore, the plan offers financial protection to owners of jewellery stores, manufacturers, wholesalers, and retailers.
2
What details do I need to submit to buy jewellery block insurance plan?
Following are the details that you need to submit to buy jewellery block insurance policy:
- Occupancy type
- Location of the shop
- Coverage period
- Sum assured under each section
- Transit details
- Add-on covers required
- Claim history for the past 5 years
- Underwriter raises further queries depending on the requirement
3
What add-on benefits can be purchased with jewellery block insurance plan?
The policyholders of jewellery insurance policies can buy additional benefits to enhance the coverage of their base policy. You can select from the following add-ons:
- Safety deposit box
- Trade shows benefit
- Exhibition benefit
- Zero deductible benefit
4
What does jeweller valuation mean?
A jewellery valuation is a document that provides detailed information and a value estimate for the jewellery piece. The value is a judgment that depends on the present market conditions.
5
What are the main reasons for the denial of jewellery block insurance policy?
The insurer can deny a claim for your jewellery block insurance plan if you submit fraudulent information or if there are no provisions to safeguard the property.