The Clarity Blog

18 Considerations For Renewing Your Jewelers Block Insurance in 2018

on Feb 5, 2018 11:01 AM

Signing a contract

If the right questions aren't asked when your jewelers block insurance is up for renewal, you could be putting your business in the dangerous position of being underinsured. Even worse, you could be completely lacking coverage for certain risks.  

Given the risks associated with being a jeweler (surely you know about smash-and-grab robberies and the multitude of theft tactics criminals use) this is not a position you want to find yourself in after renewing your jewelers block insurance.

Consider these 18 questions so that you are prepared to discuss them with your agent when renewal time comes around:


  1. Where will you be traveling with merchandise?
  2. Who else from your business could potentially travel with merchandise over the next year?
  3. Are there trade shows that you plan on attending?


Men in suits at trade show

  1. What's the current value of your inventory?
  2. Have you taken an annual physical inventory?
  3. How much higher in value is your inventory during peak seasons?
  4. Have you considered what your inventory values will be when factoring in your customers’ property and merchandise in on memo?
  5. Are you tracking the prices of precious metals and alloys if you have scrap included in your inventory?
  6. Is any of your inventory comprised of pawned property?

Spreadsheet with calculator and pen

  1. Do you have merchandise off premises that should be covered by Otherwise Away coverage?
  2. How much merchandise will you leave out of your safe, vault, or stockroom when you’re not open?
  3. Do you document the security procedures your staff takes daily?
  4. Have you made updates to your physical or electronic security?

Surveillance camera and alarms

  1. How much merchandise did you ship in the past year?
  2. Have you put any merchandise on memo or consignment in the past year?
  3. Have you recently experienced any losses that were not reported as claims?
  4. Have you and your agent discussed the option of having higher or lower deductibles than you’ve had in past years?
  5. Are you protected from risks not covered by your jewelers block insurance?


These questions often require some deep thinking and it’s certainly alright if you need help answering them.

That’s where your trusted agent comes in. If you’re not working with a Jewelers Mutual agent to help you find jewelers block insurance that fits your needs, it’s time to find one.

Find an Agent Today