Safeguarding Your Treasures: Understanding Burglary in Jewellers Insurance Burglary is a significant concern for jewellers, given the high value and desirability of their inventory. At Ambicaa Jewel Insurance, we recognize the importance of protecting your business against this risk. Let’s delve into what burglary means in the context of jewellers insurance and how Ambicaa can …
What is an excess or deductibles?? Excess in insurance refers to the amount of money that the policyholder agrees to pay towards the cost of a claim before the insurance company starts to pay. It is also known as the deductible. When an insurance company receives an excess payment from a policyholder, it typically uses …
What is shop lifting?? Shoplifting refers to an extra safeguard provided for the valuable jewellery inventory within your premises, such as a shop, showroom, branches, or any owned locations, allowing customers, visitors, or authorized individuals to browse the products you offer. However, occasionally these authorized individuals may take your merchandise without permission, payment or without …
There are various reasons why claims on jewellers’ insurance policies might be denied: Underinsurance: If the insured value of the jewellery is less than its actual value, the claim may be partially paid or rejected. Policy Exclusions: Claims can be rejected if the cause of loss is specifically excluded in the policy, such as damage …
After an Incident: In case of an unfortunate event, it’s crucial to inform the nearest police station and file a watertight FIR (first information report) with correct IPC sections. This report helps the insurance company understand the nature of the incident triggering your policy coverage. Hiring a neutral surveyor is essential to provide a detailed …
