Jewelry retailers, jewelry wholesalers, jewelry manufacturers, coin store, pawnbrokers, and cash for gold store owners all require special insurance in addition to the usual general liability and property insurance. This insurance is known as a jeweler’s block. It is a form of inland marine insurance. Gold, silver, platinum, watches, pearls, precious and semi precious stones are inadequately covered under most property policies as these policies limit claims for these items to $2,500 per occurrence regardless of the amount of items involved. Having an inland marine policy fills this gap by covering these items, which are essential to these business owners operations. Jeweler’s block policies cover these items against more types of losses and also cover these items while they are being transported as well. It also covers your customer’s goods while they are in their possession.
Thornton & Associates