Competence Center Schmuck & Uhren
Jewellery and Watch Competence Centre
Insurance for the jewellery and watch industry

At the SCHUNCK GROUP jewellery and watch competence centre, specialists and insurance experts have been analysing the commercial risks for the jewellery and watch industry for several decades and develop specific insurance solutions in cooperation with experts and customers.
These insurance solutions are available for the jewellery and watch retail trade (goldsmiths with workshop connections, jewellers, watch makers with workshop connections, jewellery and watch specialist shops and the jewellery goods trade) as well as jewellery and watch wholesalers (watch manufacturers, precious stone and precious metal dealers, travel storage companies and exhibitors).

What is the typical risk for the jewellery and watch industry?

Increasing gold prices make theft of jewellery increasingly "interesting" for organised gangs. Therefore, the number of break-ins and thefts of jewellery stock has increased. The number of robberies and shoplifting is also increasing in this area. 

What is a typical claim example in the jewellery and watch industry?

Despite having massive bollards in front of a jewellery shop, the shop window is smashed by a tree trunk resting on telephone books and pushed by an off-road vehicle. The culprit stepped over into the shop. By the time the police arrived, the culprit is long gone with goods worth six figures.  This is what is called burglary damage (trade goods and broken glass). In addition, some of the electronics is affected (repair of the damaged components of the alarm system), equipment (display cabinets and drawers were broken into).

Shoplifting/Simple theft
During the sales process a customer steals two expensive platinum chains. Both of the salespeople present cannot explain how the customer was able to outwit them.


What solutions does the jewellery and watch competence centre offer?

The universal jewellery and watch policy of the SCHUNCK GROUP is a modular insurance policy. All risks are summarised in a contract which results in an especially reasonable premium. Alternatively, modules can be combined as required determined by the individual risks of each jewellery and watch business.

By determining the indemnity limit, the risk of under-insurance is largely avoided. A fixed premium is calculated taking into account the storage.

During storage, there is insurance protection for damage by fire, burglary, water damage, simple theft (shoplifting), robbery, vandalism, storm and hail. Insurance includes cash, cheques and bills of exchange.Transport coverage includes all relevant risks when transporting goods by train, post, carrier, delivery service as well as company-owned vehicles and carriers within Germany, the EU and Switzerland. Furthermore, it covers travel storage, trade fairs and exhibitions

Insurance protection can be expanded to cover:

  • Company and shop equipment
  • Disruption of operations
  • Liability
  • Glazing
  • Electronic equipment

Your contact person in the Jewellery and Watch Competence Centre:

Markus Mühlhausen
Phone +49 (0) 69 271005-145