For nearly a decade, Centrestone Jewellery Insurance has provided Australia’s jewellers with comprehensive insurance that protects their customers and ensures any claim goes back to the customer’s preferred jeweller.
A Jewellers Block policy is a specialist insurance package designed to protect a jewellery business, providing coverage for everything from loss, damage and theft of jewellery stock and contents, business interruption cover, public and products liability insurance, cyber insurance, cover for sendings and machinery breakdown.
Centrestone managing director Lachlan Renshaw said the policy is designed to ensure that jewellery businesses can operate with confidence and peace of mind.
“We’re jewellery insurance specialists – that’s all we do – and something we’ve heard from many business owners over the years is that there is sometimes a misalignment between the cover they have and the cover they need,” he told Jeweller.
“We already work with many Australian jewellers to insure their customers, and they have been asking us for this for years. It’s taken us around two years to get the product live. We really went back to square one to ensure that the policy is optimised for jewellery businesses.
“In recent years, we’ve heard many stories from jewellery business owners about the trouble they’ve had finding the appropriate coverage for their businesses. Insuring a jewellery business is not the same as insuring a normal retail business.
"It’s a nuanced industry, and because of our expertise and specialisation within the jewellery industry, Centrestone is well-positioned to offer a specialised service that serves the unique needs of jewellery businesses.”
The policy has been crafted for retailers, suppliers, and manufacturers, combining multiple covers in a flexible policy that includes theft and burglary, accidental damage, fire, and losses that may occur during exhibitions and courier shipments.
In August, Centrestone launched its Jewellers Block policy at the International Jewellery Fair in Sydney. Renshaw said that the feedback from the industry has been overwhelmingly positive.
“It was great to receive so many different questions about the coverage we can provide with this policy. I think the best way to explain it is that, with the flexibility it provides, it’s a ‘choose your own adventure’ situation,” he explained.
“Just like any business insurance policy, jewellers can choose their limits and identify exactly what coverage they require for their business. With a deep understanding of how jewellery businesses operate, we can assist in ensuring the correct levels of cover are in place. We’re here for everyone in the jewellery industry and in recent weeks we’ve provided cover for small, stand-alone independent jewellery stores, larger multi-store chains and wholesalers.”
Renshaw added: “It’s important to know that our philosophy as a business remains the same; exceptional customer service remains at the forefront of our offering. Just like with Centrestone Jewellery Insurance, when a customer makes a claim, as soon as it’s approved, we want the claim settled as soon as possible.”
Centrestone Jewellery Insurance was launched in 2016 and works with more than 1,000 jewellery stores across Australia.
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