Who this cover is for
Retail jewellery showrooms, wholesale bullion dealers, diamond merchants, manufacturing goldsmiths, and exhibition participants.
Coverage scope
Policy scope is governed by insurer terms, endorsements, and policy schedules. Common provisions include:
Section I: Stock in Premises & Safes
All-risk protection for gold, silver, diamonds, and watches inside locked approved safes and showroom display counters.
Section II: Custody with Partners & Artisans
Covers ornaments entrusted to karigars (artisans), cutters, hallmarking centres, and brokers.
Section III: Transit & Angadia Courier
Covers merchandise in transit carried by directors, employees, or registered specialized couriers/Angadia.
Section IV: Furniture, Fixtures & Security Safes
Protection for specialized reinforced safes, electronic security alarms, bulletproof glass, and interior showroom fit-outs.
Key limitations and exclusions
Every insurance contract outlines specific conditions, waiting periods, and deductibles to review before policy inception:
Strict Safe & Key Warranties
Losses occurring outside business hours where keys were left in premises or safes unlocked are strictly excluded.
Unexplained Shortage & Shoplifting
Mysterious disappearance or stock register discrepancies without evidence of theft or armed robbery are excluded.
Dishonesty of Family / Partners
Theft by business partners or family members is excluded under standard market terms.
How Sanghvi Consultancy assists you
With 45+ years of insurance experience in Navrangpura, Ahmedabad, Sanghvi Consultancy provides personal policy guidance:
- Reviewing safe specifications (Class BB, TRTL grade) and alarm certifications to satisfy policy warranties.
- Structuring seasonal stock escalation endorsements during festive and wedding seasons (Diwali, Akshaya Tritiya).
- Confidential claims handling with experienced bullion and gem surveyors.
Frequently asked questions
Can seasonal stock limits be increased for festive periods?
Yes. Jewellers can arrange temporary stock escalation endorsements for peak festive or exhibition months without paying higher premiums year-round.
What security standards are required by insurers?
Insurers require BIS-approved safes, 24/7 CCTV recording with off-site cloud or fireproof backup, central alarm systems, and vetted armed security guards for larger limits.
Discuss your policy with an advisor.
Get clear answers on policy terms, insurer waiting periods, and claim support without aggressive sales calls.