In recent years, the Canadian jewellery industry has been grappling with a troubling increase in high-profile thefts that pose significant risks to both small independent jewellery businesses, wholesalers and larger retailers. Jewellers across the country have reported alarming incidents of brazen heists where thieves target shops, often in broad daylight, leveraging both sophisticated tactics and new technology to bypass security measures and seize valuable inventory.
High-value items, including diamonds, gold, and designer pieces, have become prime targets, and as the frequency of these thefts rises, it is imperative that jewellery businesses take proactive steps to protect their assets. The ramifications of blatant thefts in the jewellery industry extend far beyond the immediate financial loss of stolen goods, profoundly impacting your reputation, diminishing customer trust, and potentially causing long-term damage to your brand. Being a victim of theft can result in lingering repercussions that affect both your business’s bottom line and its standing among your discerning customers.
Operating a jewellery business in Canada comes with a unique set of challenges and risks that few industries face. Whether you’re managing a retail store, a wholesale operation, or an appraisal service, protecting your business and the valuable inventory you possess is critical.
From safeguarding high-value items like diamonds and gemstones to protecting against theft, natural disasters, or liability claims, the jewellery industry requires specialized insurance solutions tailored to its specific risks.
Unfortunately, most commercial insurance policies fall short of addressing the nuanced needs of jewellery businesses. These gaps can leave you exposed to unforeseen events that could jeopardize your livelihood. That’s where Private Collection Insurance steps in.
Operating your jewellery business means managing high-value inventory, expensive equipment, and daily customer interactions.
Jewellers Block Insurance is specifically designed to address the risks unique to the Canadian jewellery industry, offering coverage for:
Unlike standard business insurance, this specialized insurance for Canadian jewellers coverage ensures your store’s assets are fully protected, whether you’re facing theft, fire, or other unexpected events.
PCI’s specialized Jewellers Block Insurance product is designed specifically to address the unique vulnerabilities that Canadian jewellery businesses face. Our Jewellers Block Insurance was developed for the Canadian Jewellery market. It protects not only against the loss of a jeweller’s physical inventory due to theft and burglary but also offers coverage for losses resulting from damage or destruction of stock.
This means that whether you own a local independent jewellery store, a high-end boutique, wholesale or appraisal business, or even a larger nationwide retail operation, PCI can customize our Jewellers Block Insurance solutions to match your specific needs and the daily risks you face.
In addition to coverage for theft, Jewellers Block Insurance typically encompasses critical elements such as protection against fire and water damage, liability coverage for in-store accidents, and even coverage for items that are in transit.
Since jewellery is a high-value and easily transportable asset, these comprehensive protections are essential for ensuring that jewellery businesses are not left exposed.
Limited Competition
Inadequate Coverage Options
Restrictions on Broker Choice
Inflexibility on Policy Terms
Elevated Premium Costs
American-Based Wordings and Restrictions
The jewelry insurance industry has long been dominated by a single, large player, leaving little room for innovation and personalized service. This has resulted in elevated premiums, particularly for high-value or unique pieces, while customer service has often fallen short of expectations.
Private Collection Insurance is committed to transforming this industry. As a new contender in the Jeweller’s Block Insurance market, we aim to usher in a new era of personalized service and dedication to our clients. Our localized expertise allows us to understand the intricacies of the Canadian jewelry industry, from local regulations to specific market trends, giving us a distinctive edge over international competitors. We appreciate the unique challenges faced by Canadian jewelers and are focused on addressing your needs.
Through insightful discussions and productive conversations with a variety of shop and boutique owners, as well as representatives from retail chains and wholesalers/appraisers, we’ve meticulously developed a comprehensive Jeweller’s Block program that not only addresses common concerns within your industry but also offers peace of mind so you can focus on what you do best.
Our Jewellers Block program is informed by years of experience in the jewellery industry, including team members with specialized training in diamond and gemstone identification (GIA). This insider knowledge allows us to craft policies that genuinely reflect the needs of Canadian jewellers.
Personalized service is at the heart of our approach. We believe that each client deserves an insurance solution that reflects your individual requirements. Our commitment to building strong, lasting relationships with our clients is evidenced by the positive feedback we receive.
We bring competitive rates and transparent pricing structures that highlight the value our clients receive for their premiums. By offering flexible payment options, we ensure that businesses of all sizes can access Jeweller’s Block Insurance that fit their financial landscape.
Our suite of coverage options goes beyond standard risks, encompassing unique concerns relevant to Canadian jewelers, such as protection against extreme weather events and coverage for indigenous art pieces.
Personalized service is at the heart of our approach. We believe that each client deserves an insurance solution that reflects your individual requirements. Our commitment to building strong, lasting relationships with our clients is evidenced by the positive feedback we receive.
We bring competitive rates and transparent pricing structures that highlight the value our clients receive for their premiums. By offering flexible payment options, we ensure that businesses of all sizes can access Jeweller’s Block Insurance that fit their financial landscape.
Our suite of coverage options goes beyond standard risks, encompassing unique concerns relevant to Canadian jewelers, such as protection against extreme weather events and coverage for indigenous art pieces.
Our specialized services, designed for jewellery retailers, appraisers, wholesalers and other luxury jewellery boutique businesses, are easily accessible through your trusted local broker. By collaborating with your broker, you take the first step toward ensuring your operations are protected with comprehensive coverage. Below are key points to help you navigate this process seamlessly.
Contact your broker today and ask for Private Collection Insurance – your partner in comprehensive firearm business protection.
Jewellers block insurance covers inventory, equipment, liability, and business interruption. It also includes theft, fire, and transit coverage.
Costs vary based on the size of your business, the value of your inventory, and the level of coverage needed but PCI's rates are very competitive. Contact us for an affordable Jewellers Block Insurance quote.
Yes, custom jewelry insurance solutions are available for home-based businesses, ensuring your inventory and equipment are protected.
Absolutely. Our policies include transit coverage, providing peace of mind when shipping or receiving valuable items.
Our workmanship insurance protects you against claims involving customer injuries or damages.
It covers lost income and additional expenses if your store is forced to close due to an insured event, like a fire or flood.
Yes, we specialize in jewelry package insurance for wholesalers and retailers alike.
Simply request a quote, customize your policy, and get covered in a few easy steps.
Yes, our gemstone insurance policies and watchmaker insurance policies are designed to protect these high-value items.
You’ll need an inventory list, recent appraisals, and details about your business operations to ensure accurate coverage.
Yes, jewellers block insurance can cover consigned items as part of your inventory. However, it’s essential to specify the ownership details and value of consigned goods in your policy to ensure they are fully protected. Always discuss consignment arrangements with your provider to confirm coverage terms.
Absolutely. Our jewellers block insurance includes transit coverage for goods being shipped to customers, suppliers, or trade shows. This protection ensures your inventory is covered against risks like theft, loss, or damage while in transit, whether domestically or internationally.
Documentation requirements typically include:
Providing accurate records ensures a smooth claims process if needed.
