The 60-second version
Jewellers block policy bundles stock-in-trade, safe contents, and shop premises cover — IRDAI-mandated package for gold and silver retailers with burglary and riot extensions.
Block policy covers stock — separate from shop premises fire policy
Jewellers block policy is a packaged IRDAI-approved policy covering stock-in-trade (gold, silver, diamonds), safe contents, and burglary/theft during business hours and after closure.
Returning NRIs opening family jewellery business must insure at declared stock value — under-insurance triggers average clause on claim.
Health cover separate: health insurance guide for family floater after return.
Jewellery shop insurance lanes
| Cover | Scope | Typical rider |
|---|---|---|
| Block policy | Stock + safe | Burglary / theft |
| Fire policy | Premises only | EQ extension |
| Money insurance | Cash in transit | Hold-up cover |
| Plate glass | Showcase | Accidental breakage |
Block policy sequence
Stock valuation
Declare opening stock.
Get quotes
Compare IRDAI insurers.
BIS compliance
Hallmark licence copy.
Policy issue
Named insured + shop address.
Monthly update
Revise sum insured on stock rise.
Cover loop
Jewellers block kit
- Stock register.
- BIS licence.
- Shop rent deed.
- Policy schedule.
- Claim contact.
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Average clause
If insured stock value is below actual stock at loss date, insurer pays proportionally — update sum insured monthly.
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vs fire policy?
Block policy covers stock; fire policy covers premises structure — buy both.
Home gold?
Home contents policy — not jewellers block for personal holdings.
GST on premium?
18% GST on insurance premium — input not available under composition.
Employee dishonesty?
Fidelity guarantee rider — add if staff handle stock.
Transit cover?
Separate money/transit policy for gold movement between branches.
BIS mandatory?
Hallmark licence required for retail — insurer may ask for copy.
The plan is only as good as the sequence.
Tax, banking, schools, shipping — they all have dependencies. A wrong order costs months and lakhs. Get it right.