Insurance Merger or Acquisition? Time To Act

Posted on by admin

When your insurance provider is merged with or bought by a larger company, it can often feel like you’re left in the shuffle. This is the perfect time to reassess your coverage and explore new options. Shopping around could help you identify the gaps in service and coverage that may arise from the transition. Below are some key areas where larger agencies may not be right for your business, and why it’s important to take action:

1) Competitive Costs May Be Lost

Larger insurance companies often standardize their offerings and may not have the flexibility to shop for the best rates or uncover discounts that specifically apply to your business. As a result, you could end up with a policy that doesn’t offer the most competitive pricing or the best value for your coverage needs. It’s worth revisiting your options to ensure you’re getting the most cost-effective solution available.

2) One-Size-Fits-All Solutions

When an insurance agency is acquired by a larger company, the focus often shifts to standardized policies designed for mass appeal. This means your unique business needs may not be fully addressed. The flexibility to customize policies based on the specific risks and nuances of your business may be lost in the process. It’s crucial to review your policy and determine whether it’s truly tailored to your needs or if you’re simply receiving a generic solution.

3) Customer Service Can Become Impersonal

One of the biggest frustrations with larger insurance companies is the shift toward impersonal customer service. With call centers and automated systems becoming more common, you may find it difficult to get direct answers to your questions. Navigating through long hold times, repetitive scripts, and multiple agents can leave you feeling frustrated and disconnected. Personal, timely service may become a casualty of the merger, which can significantly impact your experience as a policyholder.

4) Inconsistent Support and Lack of Dedicated Agents

In the wake of an acquisition, you may be assigned to a different representative each time you call. This lack of continuity can make it harder to develop a relationship with someone who truly understands your business and its specific needs. When you need assistance, it can be frustrating to explain your situation to a new agent who isn’t familiar with your history or the nuances of your policy. Consistency in support is critical, especially when dealing with complex insurance needs.

5) Longer Response Times

Larger insurance companies often face delays in addressing client needs due to their size and bureaucracy. What used to be a quick response from your former agency may now take much longer, especially when it comes to claims or urgent policy adjustments. If your business is growing or evolving, having timely responses and quick access to support becomes even more important.

Conclusion

When your insurance provider is merged or acquired by a larger company, the services you once relied on may change. From increased costs and impersonal service to longer response times and less tailored coverage, the shift can create significant challenges. Now is the perfect time to reassess your policy and explore options that better serve your business’s unique needs. Take action and review your coverage after a merger or acquisition.

At Clockwork Insurance, we prioritize your business’s protection and peace of mind. Let us help you navigate these changes and find the right coverage for your future.

Contact us today to learn more!

What You Should Know About Coverage of Smoke Damage To Your Home

Posted on by admin

A fire can be a frightening, damaging event, but the smoke and soot that lingers after the incident can have other troubling effects. Your home insurance policy provides coverage for removing the effects of smoke after a home fire. At Clockwork Insurance Services in Metairie, LA, we help clients acquire the insurance they need when a damaging fire and smoke event happens to their home.

Smoke Can Cause Damage To Home Interiors and Health

After a fire, soot may cover walls, furniture, and personal items and must be carefully cleaned. Some items may not be able to be saved and may have to be discarded. A strong smell of smoke may linger in interior spaces after removing damaged items. The toxic chemicals in smoke can affect health, especially for sensitive individuals in your household, such as those with asthma, infants, and seniors. You may need cleanup by a professional restoration service to ensure your home is returned to a safe and healthy condition.

Your Home Insurance Can Help Restore Your Home To Normal

If your home experiences smoke damage from a fire, contact your insurance agent to discuss coverage that will help to restore your residence to a safe and livable condition. Home restoration companies have the equipment and expertise needed to bring your home back to normal.

Make Clockwork Insurance Services Your Agent For Home Insurance

If you would like to learn more about the coverage your home insurance policy provides, our experienced agents can provide the details. We offer many insurance products for our clients, including home, auto, flood, umbrella, and business. Contact Clockwork Insurance Services in Metairie, LA, today for a no-obligation quote on home insurance coverage that will help restore your home when fire and smoke damage occur.

Don’t Rely On Luck: Theft Prevention Tips for Jewelers

Posted on by admin

There are key times of the day and of the year when jewelry stores are most at risk for theft. Whether theft by employees or the public, either can be costly in time and financially. The time it takes to file a police report, get in touch with your insurance company to begin a claim and just the inconvenience of this incident along with addressing what led to this can be quite time consuming. 

Don’t rely on luck. 

Review your current theft protection plans and update them as needed. Here are some areas to review that can boost your current plan.

  1. Opening processes of your store.
  2. You should have 2 or more people during the opening of your store.
  3. Inspect the area prior to unlocking the doors
  4. Have one person keeping an eye outside while the other goes into the store, locks the door behind and checks that the store looks as it should.
  5. Processes during open hours.
  6. Security should be aware of the selling procedures your employees use and be keeping a close eye when precious pieces are brought out of cases for inspection by a customer.
  7. Employees should have a specific plan for showing jewelry and stick to it with security on the top of their mind while making a sale.
  8. Closing procedures should be followed and not be rushed. 
  9. If a phone rings, either let it go or stop closing procedures and stay inside the store to handle the call. This is just one example of a distraction that could put a store at risk.
  10. As with opening the store, 2 people should close the store, and neither should be dealing with any distractions. Employees should watch for each other and the area around them. One person should lock the store while the other watches what is going on around them.

During peak season, additional security should always be present and both security personnel and employees should watch for individuals “casing” the store. Any suspicious activity should be reported and written up. A log should be kept keeping up with any suspicious activity so that no one must rely only on memory.

Each store will have its own specific areas to address, and careful security planning is a must. Signing up with your local crime watch programs is helpful. 

Wedding Day Jewelry Insurance: Are You Covered for the Big Day?

Posted on by admin

You are preparing for the big day in Metairie, LA, and have every detail planned, from the centerpieces at your reception to the look and taste of your beautiful wedding cake. While everything may seem perfect, there is one crucial item that is often forgotten about. I’m talking about jewelry insurance. If this detail slipped your mind, there’s no need to worry. Here are several ways to cover your jewelry for the big day.

Have a Professional Appraisal Done

Knowing what your wedding bands are worth can be accomplished with the help of a professional appraisal. A certified gemologist can tell you exactly what your precious gems are worth and how much they should be insured. If the size of the diamond is at least half a karat, a diamond certificate or grading report will also most likely be issued. These documents will become very helpful when preparing to insure your wedding jewelry.

Research Insurance Agents in the Metairie, LA Area

Before agreeing to be insured by any agent, do your research. One trusted agent in the area is Clockwork Insurance Services. We can provide you with a quote and are able to answer any questions you may have regarding this or other insurance services to put your mind at ease. We will also be able to explain everything covered with the policy you are interested in.

Consider if This Insurance Policy is Right for You

The only person who can determine whether your wedding jewelry should be covered is you. This policy will protect it if your wedding band breaks, is lost, or is stolen. Wedding jewelry has monetary and sentimental value. It reminds you that you will be privileged to spend the rest of your life with your special someone. This insurance policy will protect this valuable item, even when traveling.

Clockwork Insurance Services would be happy to answer any lingering questions you may have about jewelry insurance or any other policy you may need. Call us today for a quote.

Why Proper Appraisals Matter for Jewelry

Posted on by admin

It’s Valentine’s time and new engagements are in the air along with celebrations of years spent together. A visit to your local jewelry store for a new beautiful piece of jewelry to commemorate this time is on your calendar. You may have already decided you will get insurance to cover this precious piece of jewelry but how important is the appraisal?

It is crucial to provide an accurate and current appraisal of your jewelry to your insurance company to ensure you are covered properly. Essentially the appraisal acts as a reliable document to protect your investment in jewelry by ensuring you are adequately compensated in case of loss, theft, or when selling the piece.

There are five main reasons why jewelry appraisals matter. 

  • Insurance purposes
  • Estate planning
  • Selling jewelry
  • Loan collateral
  • Authenticity verification

Because markets do fluctuate it is a good idea to get updated appraisals, in particular when you are reviewing your insurance coverage, thinking of selling or would like to use a piece of high-end jewelry as collateral.  Discuss with your insurance agent when you do a review of your coverages whether now is a good time for a new appraisal. Make sure you get a detailed report from a professional appraiser and provide this to your insurance agent. Also check that your appraisal reflects the replacement value of the piece not the purchase price.

For questions and assistance with insurance coverage for your high-end jewelry contact Clockwork Insurance Services today. Call 504-262-8240 or email info@clockworkns.com

Protect What You Treasure and Your Investment with Fine Arts and Collectibles Insurance

Posted on by admin

The renowned playwright and poet Oscar Wilde once said, "Life imitates art." This sentiment resonates with many who appreciate and collect art and other valuable items. Such individuals not only invest in these pieces but also cherish them deeply. That’s why people choose to protect their investments and passions with policies like fine arts and collectibles insurance. The team at Clockwork Insurance Services offers such policies to help people in and around the Metairie, LA, area safeguard their prized possessions.

Secure Your Treasures and Investments with Fine Arts and Collectibles Insurance

Fine art and collectibles often hold significant value, from your most cherished painting to limited edition doll collections and more. Protecting such valuable items is wise, much like any other substantial investment. However, items like art and valuable collections hold more than just monetary value; they often have personal significance that transcends dollars and cents. This dual value prompts owners of fine art and collectibles to protect their valuables with fine arts and collectibles insurance options.

Insurance Solutions for Fine Arts and Collectibles Owners in Metairie

If you live in or around the Metairie, LA area and have questions or would like to learn more about fine arts and collectibles insurance for your art or collectibles, we’re here to help. Contact us to find out more and schedule an appointment with our friendly and experienced team for the insurance solutions you need to keep your treasured items safe at Clockwork Insurance Services today.

5 Insurance Pitfalls Jewelry Store Owners Should Avoid This Year

Posted on by Tyler Wright

As a jewelry store owner, protecting your valuable inventory and business operations is crucial. However, navigating the complexities of insurance can be challenging. Here are five common insurance pitfalls to avoid this year to ensure your business remains secure.

Underinsuring Your Inventory

One of the most significant mistakes jewelry store owners make is underinsuring their inventory. The value of jewelry can fluctuate, and it’s essential to regularly update your inventory and your policy to reflect current market values. Failing to do so can leave you with insufficient coverage in the event of a loss.

Ignoring Specialized Coverage Needs

Standard business insurance policies often don’t cover the unique risks associated with jewelry stores. Ensure you have specialized coverage, such as jewelers block insurance, which protects against theft, damage, and other specific risks. Without this, you might find yourself inadequately protected.

Overlooking Employee Theft Coverage

Employee theft is a significant risk in the jewelry industry. Many standard policies do not cover losses due to employee dishonesty. Make sure your policy includes coverage for employee theft to safeguard against internal risks.

Not Reviewing Policy Exclusions

Insurance policies often contain exclusions that could expose you to unexpected risks. It’s essential to thoroughly review your policy to identify what is and isn’t covered. Common exclusions might be related to natural disasters, security requirements, or off-premises coverage.

Failing to Update Coverage with Business Changes

As your business grows and evolves, so do your insurance needs. Whether you’re expanding your inventory, opening a new location, or investing in new security systems, it’s crucial to update your insurance policy accordingly. Talk with your agent regularly to review and adjust your coverage to match your current business situation.

By avoiding these common pitfalls, you can ensure that your jewelry store is well-protected and prepared for any unexpected events. If you need personalized advice or a policy review, feel free to reach out to our team at Clockwork Insurance for expert guidance tailored to your needs.

Jewelers Block Insurance – Coverage for a New Jewelry Store

Posted on by admin

Protect Your Jewelry Store with Jewelers Block Insurance

Jewelry stores face unique risks that standard commercial insurance policies may not fully address. Jewelers Block insurance is a specialized solution designed to protect your business from these challenges, ensuring your financial security and peace of mind.

What is Jewelers Block Insurance?

Jewelers Block insurance provides comprehensive coverage for the unique needs of jewelry businesses. It safeguards your inventory of diamonds, gemstones, and other valuables against a wide range of risks. This policy can be customized and added to a standard commercial insurance plan, offering protection tailored to your business.

When is Jewelers Block Insurance Needed?

Whether you own a small-town boutique or a high-volume jewelry store in a major city, Jewelers Block coverage is invaluable. Here are some scenarios where this insurance proves essential:

  • Onsite Protection: Coverage for jewelry displayed or stored at your store.
  • Trade Shows and Exhibits: Protection for items transported to and displayed at industry events.
  • Consignment Items: Coverage for items held on consignment, ensuring both you and your consignors are protected.
  • Promotional Events: Protection for jewelry worn or displayed during fashion shows or promotional activities.
  • In-Transit Coverage: Safeguards against theft or loss while transporting goods.

Key Benefits of Jewelers Block Insurance

Jewelers Block insurance offers robust protection for your business against a variety of risks, including:

  • Theft: Coverage for losses due to burglary, robbery, or employee theft.
  • Natural Disasters: Protection against damage caused by fire, smoke, high winds, and other covered perils.
  • Accidental Damage: Coverage for unexpected events that result in the damage or loss of inventory.
  • Business Interruption: Compensation for lost income if your business operations are disrupted due to a covered loss.

Additionally, some Jewelers Block insurance may extend to cover items in transit, whether shipped locally or taken to international trade shows.

Customizing Your Policy

Every jewelry business is different, and Jewelers Block insurance is highly customizable to meet your specific needs. Here are some factors to consider:

  • Inventory Assessment: Conduct a detailed inventory of your merchandise, including high-value items, consigned goods, and seasonal fluctuations.
  • Risk Management Measures: Implement security systems, employee background checks, and training to reduce risks. These measures can also help lower your premiums.
  • Coverage Limits: Choose coverage amounts based on your inventory and operational risks, ensuring you are adequately protected.
  • Exclusions and Add-Ons: Be aware of policy exclusions, such as wear and tear or mysterious disappearance without proof. Consider optional add-ons for enhanced protection, like worldwide coverage for travel or business interruption insurance.

Why Work with a Specialist?

Navigating the complexities of Jewelers Block insurance requires expertise. At Clockwork Insurance Services, we specialize in protecting jewelry businesses. With extensive experience and a deep understanding of the industry, we help clients:

  • Assess their unique risks.
  • Customize policies to fit their needs.
  • Understand claims processes and risk management strategies.

Our partnerships with jewelry trade associations and participation in industry events underscore our commitment to serving the jewelry community.

Taking the Next Step

If you’re considering Jewelers Block insurance for your business, start by conducting a comprehensive inventory of your merchandise and assessing your specific risks. Then, consult an expert.

Contact one of our agents at Clockwork Insurance Services. We’ll guide you through the process, help you select the appropriate coverage, and prepare your insurance documents. With the right policy in place, you can focus on growing your business with confidence.

Protect Your Passion

Your jewelry store represents more than a business—it’s your passion and livelihood. Don’t leave it exposed to unnecessary risks. Jewelers Block insurance is the protection you need to safeguard your investment and ensure your success.

I Love It! Should I Cover It?

Posted on by admin

The holidays are here—a season of joy, celebration, and unforgettable moments! Whether you’re planning to pop the question, unwrap a dazzling gift, or celebrate milestones with loved ones, this is a time when stunning jewelry often takes center stage. But as magical as the holidays can be, they can also bring unexpected risks to your cherished pieces.

Imagine this: You’re celebrating at a holiday party, showing off a new engagement ring or treasured heirloom, when it slips off unnoticed. Or worse, while traveling to visit family, you discover your watch or necklace has gone missing. These are moments when jewelry insurance transforms from a luxury to a necessity.

Why Insure Your Jewelry This Holiday Season?

High-value jewelry—like engagement rings, luxury watches, and family heirlooms—deserves special protection. Unfortunately, standard homeowners or renters’ insurance often falls short. Jewelry insurance offers comprehensive coverage designed to safeguard your most precious items, allowing you to wear and enjoy them with confidence.

The holiday season, with its flurry of travel, gatherings, and celebrations, is the perfect time to ensure your valuables are covered. Whether you’re dancing at a New Year’s Eve party or packing for a winter getaway, jewelry insurance offers peace of mind when it matters most.

What Does Jewelry Insurance Cover?

Here are just a few ways jewelry insurance protects your pieces:

  • Loss, Theft, or Damage: Coverage for accidental loss, theft, or repairable damage—so you’re not left empty-handed.
  • Worldwide Travel: Whether you’re skiing in Aspen or visiting relatives abroad, your jewelry can be insured wherever you go.
  • Inflation Protection: With fluctuating market values, policies can adjust to reflect your jewelry’s current worth (with appraisals).
  • Natural Disasters: Fire, floods, or other covered events don’t have to mean the end of your cherished items.

Tips for Safeguarding Your Jewelry

Before insuring your pieces, consider having them professionally appraised to establish their true value. For gifts, retain receipts or documentation for future reference. And during holiday gatherings, make a habit of storing jewelry safely when not in use.

Protect Your Holiday Joy with Clockwork Insurance

At Clockwork Insurance, we’re here to make sure your jewelry—and your holiday season—shines as brightly as it should. Coverage is more affordable than you might think, and our expert team can guide you through the process. Call us today at 504-262-8240 or email info@clockworkins.com to learn more about securing your most valuable memories

Commercial insurance that most businesses can benefit from

Posted on by admin

Three generations of the McFarland family have contributed almost 100 years to the insurance business. Clockwork Insurance Services in Metairie, LA, carries on the legacy and the philosophy of customers first, which is the cornerstone of our business model. We want to help you protect your business, and we provide all the tools you need to achieve this.

Commercial property insurance

Commercial property insurance covers not only your building, if you own it, but all the things you use to carry out your business. It protects your inventory and raw materials, and depending on the type of business you are doing, it covers machinery, display units, office equipment, tools, and records.

Commercial flood insurance

Commercial property insurance does not cover flood damage. If your business is in an area where flooding is a potential threat, you should have this coverage. There are two types of flood insurance: property and content. You will need both of them to protect your business.

Commercial liability insurance

Commercial liability insurance may be the most important type of commercial insurance of all. Approximately one in three businesses will be sued every year. Being sued is one of the fastest ways to tank your business. There is a judgment, and then the legal fees can be astronomical whether you win or lose. With the correct amount of liability insurance, you can protect your assets and save your business.

Commercial auto insurance

If you use your personal vehicle to conduct business, you are putting your home on the line. You need to separate your personal assets from your business assets, and individual auto insurance won’t cover the business use of your vehicle.

Call our office at Clockwork Insurance Services in Metairie, LA, if you have commercial insurance questions or needs.

Archives

Categories