Definition of "Jeweler"
Type of inland marine insurance that provides coverage for jewels, watches, gold, silver, platinum, pearls, precious and semiprecious stones. Property can be owned by the insured jeweler, or can be customer's property in care, custody, and control of the jeweler. Coverage is on an all risks basis except specifically excluded perils such as wear and tear; war; delay; loss of market; flood; earthquake; loss or damage while jewelry is being worn by the insured or his or her representatives; loss resulting from the infidelity of any person under the care, custody, and control of the insured; damage or destruction of jewelry after it leaves the insured under an installment contract; mysterious disappearance; and shipments of jewelry not sent registered first class mail.
Popular Insurance Terms
Coverage on jewelry and precious stones on an all risks basis at any location subject to exclusions of wear and tear, war, and nuclear disaster. Each item must be specifically listed in the ...
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Trust that is established by people still alive. ...
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Privately formed insurance company whose objective is to make a profit. ...
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Denial of coverage for damage, in inland marine insurance, stemming from routine use of the property. Property can be expected to deteriorate somewhat over time from normal use. This is not ...
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