Standard Coverages

Safe/Vault Burglary

Locked safes and vaults provide the most effective way to safeguard your inventory while closed for business. Truly, your physical protection, including the safe, vault, alarm, smash proof glass, door locks, sensors and sirens….are designed to slow the egress of a criminal, allowing time for your alarm company to inform you and the authorities to investigate the ”breach” of security at your store to thwart a burglary. Out of safe inventory does not provide this protection, and these type burlaries typically take only 4-6 minutes. Alarms and police are not capable of a complete response in such a short time frame. For this reason, we exclude covering Out of Safe inventory. We expect our jewelers to put up in the safe or vault all items they wish to safeguard. Items left out should be those with much lower price and easily replace.

Robbery

Criminals taking of your inventory from your store during “business hours” constitutes a robbery. We offer coverage for those robberies where force was used to rob the store with a weapon. A weapon would include a hammer, crowbar, bat, knife, gun or other item that serves to threaten the store staff and/or the customers. What we don’t cover are occurrences where the items were taken without threat. Such exclusions include:

  • • Diversion theft
  • • Sneak theft
  • • Mysterious Disappearance
  • • Employee Dishonesty
  • • Stock shrinkage
  • • Losses found by taking inventory
  • • Stone switch

All of these perils can be added to your policy for additional premium expense.