Jewellery stores around the world have regularly been reporting burglaries and thefts since the very beginning. Despite the various security measures and armed security guards that are engaged for this specific purpose, there still seems to be no decline in the numbers of these instances. It is imperative for owners of jewellery stores to opt for an appropriate insurance policy in order to protect its heavy investments.
A majority of people feel that placing two security guards outside their jewelry store and having CCTV cameras installed is enough. Sadly, this is not so.
Most insurance providers would have some interesting policies for jewellery stores. An insurance policy may be tailor-made for your needs as well. If you have a chain of stores for example, you may require a particular type of policy that would be applicable to your needs.
You could avail of special offers by combining packages for fire, theft, burglary and insurance against natural disasters, for example.
Whatever kind of policy you think is right, seek professional advice as soon as possible, and get your store insured at the earliest.
Besides being at least partially covered for losses on account of theft, fire, etc, a store owner is also responsible for the health and safety of the employees who work there, as well as customers who are on the property when an incident occurs. The store owner generally faces prime liability. Third-party insurance can help protect against losses towards compensation to employees and customers as well.
Being robbed or a fire breaking out at one’s store is a very emotionally and mentally trying ordeal. However, the financial losses that one can incur on account of theses occurrences can be devastating. An insurance cover is an absolute must.
In fact, a good employee medical insurance policy should also be chosen so expenses for injuries or illnesses are covered.
Some tips to choose the right policy:
- Understand your needs and then decide which policy to go in for. Even though the policy may be good, it may not necessarily be suited to your needs.
- Seek a reputed insurance company. While new companies in the market are good as well, due to competition they might sell a policy that is not best suited to you
- Get all documentation verified and checked before you sign up for a policy
- Understand what you will be getting in return for the premiums you will be paying