Lower Your Premium

When we evaluate a business risk we look at many factors, including the owner's attitude toward safety. Your safety attitude is reflected in your business's physical and electronic security such as burglar-resistant glass, locks, store layout, safe or vault, and security system, to name a few. Your attitude also is reflected in the safety procedures that you and employees follow.

Jewelers Mutual rewards commercial policyholders who have not had losses by reducing premium through an "experience credit." Your safety measures can mean a real savings on your premium.

Here are other ways to lower your insurance premium:

• Eliminate your peak season coverage by carrying a higher limit of insurance all year round. Many times it is less expensive proportionally to insure to value for the full year rather than adding peak season coverage.
• Purchase your protection under one policy. We allow credit per policy if you combine your Jewelers Block Policy with a Businessowners Policy.
• Increase your in-safe percentage warranty. Storing more merchandise in your safe or vault when closed to business will lower the cost of your coverage.
• Remove all merchandise from your show windows when closed to business. If you are currently purchasing coverage for this exposure, you can remove it and receive a return premium.
• Do your premises have fire sprinklers? If so, have you informed us so we can apply the appropriate credit?
• For shipments, use Registered Mail or Express Mail with the United State Postal Service (USPS). Our Jewelers Block and Jewelers Standard policies automatically include a $100,000 limit of insurance when you ship using Registered Mail and a $25,000 limit for Express Mail at no additional charge and with no deductible. Use the USPS Click-N-Ship online program at www.usps.com and save even more.
• Increase your deductible. By sharing in a greater amount of the risk, you can lower your insurance premiums and still have the protection you need for larger losses.
• Hold weekly safety meetings with all of your employees. Properly trained employees prevent losses, which allows you to obtain or maintain your experience credit.
• Build a long-term relationship with the leading insurer of the jewelry industry - Jewelers Mutual Insurance Company. We look at our long-term experience with a jewelry business to determine what premium is needed to cover the risk of loss.

Contact your Jewelers Mutual insurance agent to implement any of these cost-saving measures.