What risks can be covered?
The policy can cover all risks of direct physical loss or damage arising to the property insured:
Stock (Jewellery, Ornaments, Pearls & Diamonds and Precious Stones, Precious Metals/Articles)
Within the premises where your business is conducted or other locations where it is deposited/stored.
While it is being carried, transported, distributed outside the speciﬁed premises.•
While in transit (registered post parcel, air transit, angadia, courier, logistics companies)•
While in transit from insured premises/point of origin to the exhibition site, during display and overnight storage at the exhibition site (within India orabroad as opted by you).
Building & other content like furniture, ﬁxtures and ﬁttings
Due to ﬁre and allied perils
From theft, burglary, robbery, hold up
Money in transit
Any loss caused by robbery, theft or other fortuitous event whilst carried by the Insured or its authorized employee.
Stock from employees who might turn rogue (Fidelity Guarantee)
From dishonest acts committed by employee(s), alone or in collusion with others during the policy period
From speciﬁed persons other than employees (on payment of extra premium)
Important points to be noted
The basis of valuation of your property shall be cost plus 10% (For Diamonds – Selling Price less 10%)
Your property should be kept in a locked safe/vault or approved security room at all times when not being displayed.
The stock outside of locked safe and/or strong room but within the insured premises after business hours should not exceed 10% of the total sum insured.
While on display during exhibition hours, your property should be kept in locked showcases with keys removed, unless being removed from or returned to showcases.
Your property(if in excess of INR 5 Lakhs in value) should always be stored overnight in a burglar-proof safe during non-business hours.
Your property should never be left unattended, for any reason whatsoever, while on display during exhibition hours.
Some important clauses
Personal Conveyance Clause•
Storage at Residence Clause•
Pair and Set Clause•
Jangad Slip Clause•
Maintenance of Key Clause
Medical expenses/re-imbursement for accidental injury caused during the act of piercing