# Jewellers block insurance in Germany: stock, safe and transit > A jewellery or watch shop keeps more value in a few square metres than many retailers hold in a warehouse. Standard German business contents policies are not designed for that: jewellery and watches are usually capped at small amounts or excluded. Jewellers block insurance, known in Germany as Valorenversicherung, covers stock in the shop, in the safe, on errands and in the post, often on an all risks basis. The limits per storage location decide what you actually get paid. Quelle/Source: https://www.nammert.com/en/insurance-broker-jewellers-block.php Updated: 2026-11-07 ## Is my business contents policy enough for jewellery and watches? Usually not. Ordinary German contents policies cap jewellery, precious metals and watches at low sums, and some insurers do not accept jewellers at all under them. They also cover only named perils such as burglary and robbery and nothing outside the premises. A jewellers block policy is built for high value in little space: it sets limits by storage location and security and can include customer goods, consignment stock and transit. ## At a glance - **Compulsory?:** No, but suppliers of consignment stock often require it - **Type of cover:** all risks or named perils, depending on the policy - **Key mechanism:** separate limits for safe, sales floor and shop window - **Third party goods:** customer and consignment goods only if expressly included - **Underinsurance:** proportional reduction under § 75 VVG ## Your safe sets the sum insured A jewellers block policy does not insure all stock the same way everywhere. It sets maximum amounts per location: in the locked safe, on the sales floor during opening hours, in display cabinets and in the window after closing. The limit for the safe depends on its resistance grade under EN 1143-1 and on whether an intruder alarm is connected to a monitoring centre. In practice this means that stock left outside the safe overnight is covered only up to the much lower display limit if there is a break in. If you plan to expand stock, for example before Christmas, check first whether safe and limits still fit. ## Robbery, sleight of hand and the sales counter Armed robbery is the scenario everybody fears, and every jewellers policy covers it. More frequent are quiet losses: a tray of rings switched while being shown, a watch that leaves the shop on a customer's wrist. Whether such simple theft is covered depends on the type of cover. Named perils policies usually leave it out, all risks policies often include it. Many insurers attach conditions to showing goods, such as a maximum number of pieces on the counter at once. Make sure every member of sales staff knows them. ## Customer goods, consignment and repairs Watches in for service, rings being reworked, stock held on consignment from manufacturers: much of what sits in the safe often belongs to someone else. You are liable to the owner, but your own policy pays only if it expressly covers third party property. Some German insurers offer goods in repair as a separate module. Consignment agreements frequently specify how the supplier's goods must be insured. Comparing those clauses with your policy avoids having to pay the supplier out of your own pocket after a loss. ## In transit: errands, shipping and trade fairs Once goods leave the shop, separate rules apply. Errands with goods carried on the person, shipments by post or secure courier and trade fair stands come with their own limits and conditions, often including permitted shipping methods and a maximum value per parcel. Goods left in a parked, unattended vehicle are excluded under many policies. ## What is covered - Robbery and extortion on the premises - Burglary, including from the safe up to the agreed limit - Fire, escape of water and storm damage to stock - Simple theft and sleight of hand, under all risks cover - Customer goods in repair and consignment stock, if included - Errands with goods carried on the person - Shipments and secure transport under the policy's carriage rules - Trade fairs and exhibitions, as an add on ## What is not covered - Stock above the limit for the relevant storage location - Goods in a parked, unattended vehicle, under many policies - Theft by your own employees, which needs fidelity insurance - Stock discrepancies that cannot be traced to a specific event - Wear, damage during processing and errors in your own repair work - Loss of income after a claim, which needs business interruption cover ## Who needs it - Jewellers and watch retailers with a shop - Goldsmiths and watchmakers holding customer pieces - Bullion and coin dealers - Wholesalers and agents travelling with sample collections - Online sellers of jewellery and watches with their own stock and shipping ## Who does not need it - Costume jewellery sellers with low stock value, for whom contents cover is enough - Private owners of jewellery and watches, who need valuables insurance instead ## What it costs Premiums are usually a rate per mille of the insured stock value and depend heavily on security, location and claims history. There are no independently published price comparisons for this class, so we do not quote example premiums. **What drives the premium:** - Stock value and seasonal peaks - Resistance grade of the safe and intruder alarm - Shop location and protection of doors and windows - All risks or named perils - Extent of customer goods, shipping and trade fairs - Claims history and deductible _A binding premium is only available once the insurer knows the security on site, often after a survey._ ## The policy levels on the market - **Burglary and robbery in a business package:** For small stock: jewellers clause in a commercial property policy, named perils, low limits for jewellery and watches. - **Jewellers block policy for the shop:** Dedicated policy for stock with limits per location, customer goods, errands and shipping, often on an all risks basis. - **Large risks and wholesale:** For high stock values, several branches or wholesale: tailored wording, trade fairs and travelling stock, often shared between insurers. ## How to recognise a good policy | Criterion | Minimum standard | Strong policy | Why it matters | | --- | --- | --- | --- | | Type of cover | named perils | all risks with clear exclusions | Otherwise sleight of hand at the counter is not covered. | | Safe limit | flat amount unrelated to the safe | matched to resistance grade and actual overnight stock | A night time burglary is the largest loss you can expect. | | Customer and consignment goods | not covered | included with their own sum | You are liable to the owner for third party goods. | | Errands and shipping | excluded | included with workable carriage rules | Many losses happen between shop, workshop and customer. | | Trade fairs | not covered | add on with its own limit | Setting up and dismantling are the riskiest hours. | | Underinsurance | reduction under § 75 VVG | periodic stock declarations or waiver | Stock levels vary a lot over the year. | | Deductible | high, per claim | reasonable, with separate rules for robbery | Small thefts add up. | ## Insurers on the German market Only a few insurers in Germany write jewellers block cover, often through specialist art and valuables departments. Allianz, Mannheimer, Württembergische and ERGO publish product documents for jewellers; Generali is active in art insurance. The list shows insurers under German federal supervision and is a market overview, not a statement about who we work with. - **Allianz**: jewellery stock and valuables insurance sold as Allianz Esa - **Mannheimer**: VALORIMA brand for jewellers, watchmakers and gold and silversmiths, Continentale group - **Württembergische**: valuables insurance for jewellers and watchmakers, W&W group - **ERGO**: travel and stock insurance for jewellers, goldsmiths and jewellery traders - **Generali**: art insurance under the ARTE Generali brand, jewellers risks on request 155 insurers supervised by BaFin, the German regulator, are licensed for this class of insurance. (Feuer, Hagel-, Frost- und sonstige Sachschäden). Source: BaFin company database, 2026-09-18; EU insurers without a German office excluded. ## Typical claims and who pays - **Armed robbery in the shop** (the stolen stock, often six figures): Robbery is core cover in every jewellers policy, paid up to the limit for the sales floor. - **Night burglary, safe opened** (the overnight stock in the safe): Covered up to the safe limit. Anything above it stays with you. - **Sleight of hand at the counter** (one or several pieces): Simple theft without force is not a named peril. All risks policies often include it, with a deductible. - **Customer's watch stolen in repair** (the value of someone else's watch): Third party property is paid only if the policy expressly includes customer goods. - **Sample case taken from the car** (the whole collection): Goods in a parked, unattended vehicle are excluded under many policies, even good ones. - **Fair stand emptied when packing up** (the goods on display): Only with a trade fair add on and only if the supervision rules for setting up and dismantling were met. ## Myth or truth - „My shop contents policy covers my jewellery stock well enough." ✘ Wrong. Ordinary contents policies cap jewellery and watches at low amounts or do not accept jewellers at all. Real stock needs a dedicated jewellers block policy. - „Pieces brought in for repair are covered automatically." ✘ No. Customer goods are third party property and covered only if the policy includes them. Some insurers offer a separate module. - „The policy limits how much may stay in the window overnight." ✔ Yes. Jewellers policies set limits per storage location, and those for windows and cabinets outside opening hours are usually low. - „With a jewellers policy every parcel of valuables is insured." ✘ Only if it is sent under the policy's carriage rules, which set shipping methods and maximum values per parcel. Deviating from them can cost you the cover. - „If the sum insured is too low, the insurer may reduce payment." ✔ True. Under § 75 VVG underinsurance leads to proportional payment unless the policy waives it. Stock declarations help when values fluctuate. ## Common mistakes - Not declaring higher Christmas stock and being underinsured when a loss occurs - Leaving pieces in the window or cabinets overnight instead of the safe - Accepting consignment goods without checking that your policy covers third party property - Leaving goods in the car, even briefly - Not knowing the policy's shipping rules and sending valuables the wrong way ## FAQ ### What does jewellers block mean? The term comes from the London market and describes a policy that insures a jeweller's entire stock in many places as one block: in the shop, in the safe, in transit and often in the post. In Germany it is usually called Valoren or Juwelierversicherung. ### What is all risks cover? Every loss or damage is covered unless the policy expressly excludes the cause. The alternative is named perils cover, which pays only for listed events such as fire, burglary and robbery. ### Do I need a particular safe? Not by law, but insurers set the limit for goods in the safe by its resistance grade under EN 1143-1 and the intruder alarm. A weak safe means a low limit. ### Are customers' pieces covered automatically? No. Watches and jewellery brought in for repair belong to the customer and are covered only if your policy includes third party property, often with a separate sum. ### What if my stock changes during the year? If the actual value at the time of a loss exceeds the sum insured, the insurer may reduce payment proportionally under § 75 VVG. Seasonal increases, stock declarations or a waiver of underinsurance prevent that. ### Is theft by staff covered? Not under the jewellers policy as a rule. That risk is covered by fidelity insurance. ### Are trade fairs included? Only if the policy says so. Fairs are usually an add on with their own limit and supervision rules, with stricter rules for setting up and dismantling. ### Why use a broker? Few insurers write this class and limits, carriage rules and exclusions differ widely. We obtain quotes, compare the wording with your stock and security and support you with claims. Our fee is paid by the insurer. ## Legal basis and sources - [Insurance Contract Act (VVG, German)](https://www.gesetze-im-internet.de/vvg_2008/) - [BaFin company database (licensed insurers)](https://portal.mvp.bafin.de/database/InstInfo/) ## Request quotes We obtain quotes and come back with a comparison, free of charge. You can write in English. https://www.nammert.com/en/insurance-broker-jewellers-block.php#anfrage --- Your broker: Norman Nammert, trading as NAMMERT. Insurance broker licensed under section 34d(1) of the German Trade Regulation Act. Broker register no. D-C08Q-TOSD4-37. NAMMERT Assekuradeur GmbH is a separate company. It does not arrange your contract. NAMMERT Assekuradeur GmbH, Karl-Marx-Straße 4, 15711 Königs Wusterhausen, +49 3375 29 12 77, info@nammert.com. Wikidata: Q141141479.