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What is Jewellers Block Insurance?

Jeweller's Block Insurance is a type of insurance policy that covers the risks of jewelry shops,wholesalers, manufacturers, and dealers. The policy protects them against any loss or damage due to burglary, theft, accidents, or other unforeseen events.

Jeweller's insurance covers items such as gold, silver, platinum, precious stones & metals, bullion, and banknotes. Any untoward incident can result in huge financial losses and damage the reputation of a jewelry business among its clients.

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Importance of Jewellers' Block Insurance for Jewellers in UAE

Precious metals like gold hold deep economic, social, and cultural significance in the UAE. It is an integral part of the country's society and business landscape. Due to the growing demand for branded Jewelry, top jewelry businesses are setting up shops in the UAE.
Gems & Jewelry is a high-value business that primarily deals with precious items. A single unfortunate event can have a catastrophic impact on this business. A jeweler's block insurance policy can cover the financial risks and provide peace of mind to jewelers in the UAE. All the risks of a jewelry business can now be covered under one block insurance policy.

Coverage Offered by Jeweller's Block Insurance

A jeweler’s block insurance policy covers a wide variety of risks. The list is given below:

Types of Businesses That Require Jeweler's Block Insurance

Jewelry insurance is required for the following types of businesses that deal with jewelry items.


Gold Mining Companies

Wholesalers & Retailers

Jewelry Designers


Auction Houses

Dealers in Antique Products

Museums & Art Galleries

Exhibitors of Jewelry Items

Private Jewelry Collections

Risks Faced by Jewelers in UAE

Some of the typical risks faced by jewelers in the UAE are as follows:

Theft or burglary on the premises can result in huge losses to the property and stock

Accidents and natural calamities such as fire, floods, storms, and earthquakes can destroy the entire business overnight

Loss during transit or transportation of high-value items by way of parcel post, air, rail, or road

Cheating or stealing of jewelry items by the employees

Damage caused by riots, strikes, vandalism, or civil unrest

Loss or damage to customers’ ornaments entrusted to the jeweler for repairs or rework

Loss of precious gems & Jewelry during the course of public displays and exhibitions

Benefits of Jeweler's Block Insurance Policy

Jeweler's block insurance offers several benefits to the policyholders:

The policy is specially designed for jewelry businesses. It can also be customized for your specific situations and requirements using add-on covers.

Insurance coverage for high-value items such as gold ornaments, precious stones & metals, bullion bars, and banknotes

Protection for other business assets, such as furniture, fixtures, electronic equipment, etc., against the insured perils

Provides coverage for precious items in transit. The jewelry items used for public displays and exhibitions are also covered.

The policy provides protection against loss due to accidents, natural calamities, and manmade events like theft, strikes, riots, etc.

Getting insurance for high-value Jewelry helps you to obtain a precise valuation of business inventory from professionals.

Jewelry block insurance also protects the jewelry items that are sent for repairs and reworks

How to Choose a Jeweller's Block Insurance Policy in UAE?

Some useful tips for choosing the right Gold Jewelers insurance plan are listed below:

Insurance Coverage

If the sum insured is too low, your business risks may be underinsured. If the sum insured is too high, you end up paying very high premiums. So the insurance coverage has to be optimal to give comprehensive protection to your business. It is a good practice to choose the sum insured based on the cost price of jewelry items.

Annual Premium

The premium amount payable should be affordable and not overstretch your finances


The best jewelry insurance plan is one that can be tailored to your specific requirements. The availability of add-on covers enables you to get enhanced protection at competitive premiums.

All-Risk Cover

The right jewelry insurance plan should provide all-risk insurance coverage to your business. This means that the policy covers all the risks that are not specifically excluded under the insurance contract.


The policy exclusions should be fair and nominal. A long list of exclusions can defeat the purpose of buying insurance.

Insurance Provider

It is important to choose a reputed insurance provider with a distinguished track record in the industry. The company should have a good claims settlement ratio with seamless and speedy claims settlement. Check the reviews online for the quality of customer service delivered by the company and its partners.

Frequently Asked Questions on Jeweller's Block Insurance Policy

Apart from jewelry items, the jeweler’s insurance plan also covers other assets such as interiors, furniture, fixtures, safe vaults, and equipment at the business premises. All the items mentioned in the insurance proposal form and used for your jewelry business are covered.

The gold jewelry insurance policy typically excludes any loss due to mysterious or unclear reasons. You need to provide a valid explanation for any claim you make

The amount of insurance coverage depends on the level of inventory held by a jewelry business. You can get the valuation done by professional valuers. You can discuss this with the team of insurance experts at PIB Secure to get the right jeweler’s insurance coverage.


Disclaimer: The jewelers’ block insurance described on this website is provided by an independent insurance company and is subject to the terms and conditions of the specific policies. There are restrictions and exclusions in this policy’s coverage. Read this policy carefully to understand your coverage and any limitations there may be.