Category: Insurance

Warranty for your Jewelry Store Customers

Posted on by admin

Offering your jewelry store customers the option of a warranty when they first purchase their jewelry is a convenience that can lead to greater customer satisfaction. As a jewelry store owner, you seek ways to improve the customer experience which in turn leads to more sales and happy returning customers. Jewelers Mutual offers their clients this service.  With the Jewelers Mutual Care Plan, you can present this as an added benefit and include it in the purchase price of the item or items.

A warranty offers your clients the protection they desire when investing in fine jewelry. This enhances the quality of the jewelry you showcase and ensures lasting satisfaction in the choice for your customer.  The Jewelers Mutual Care Plan covers not only manufacturers’ defects, but it also includes traditional wear and tear and accidental damage. 

Clockwork Insurance Services is here to assist you with your business. Our goal is to work with our clients’ and truly understand how to add to their success. We do this with careful review of their business needs and compiling an insurance plan that not only includes the coverage the client needs but also introduces options that hopefully improve the service they can offer to their customers.

Considering adding a warranty for your customers?

Call us at 504-262-8240 or reach out to us via our website: https://www.clockworkinsurance.com

For more details and frequently asked questions read more on this warranty option available to Jewelers Mutual clients here: https://www.jewelersmutual.com/jeweler-care-plan

Third Party Coverage: Do I need it?

Posted on by admin

Another crash due to a third-party event has caused many small businesses to take a deeper look at what type of insurance coverage would assist in the event this affected their ability to keep the doors open.

Let’s take a look at exactly what this may mean for your business.

The CrowdStrike incident was not a ransomware or other malicious attack. It was simply an update that ended up causing computer systems worldwide to crash. This interrupted airlines, banks, hotels, hospitals, gas stations and many more. Some insurance carriers do offer coverage for when you have an outage that is due to a third-party incident that is essential to your operations. The CrowdStrike incident was one of the worst tech disruptions in history and an example of just how overreaching this can be.

Business interruption insurance only replaces income lost as a result of a disaster that directly impacts your company whereas contingent business interruption insurance replaces lost income when a company is forced to close due to a disaster impacting a third-party vendor or supplier.  For example, if a business relies on a specific manufacturing company to supply a part for equipment they service, and that company warehouse has a fire that puts them out of business then contingent business interruption insurance would be the policy that would cover this situation.

If a vendor or third-party that you rely on for your business experiences a cyber-attack it can affect your ability to continue your business. It can affect your income. This is where third party, cyber liability is necessary to recover your loss of income.  A careful review of your insurance coverage can reveal any areas you may need to fortify to ensure you are covered for this unfortunate circumstance. 

Clockwork Insurance agents can review your current policies and report exactly what coverages you have and what coverages you may want to consider adding to your portfolio.

Call us at 503-262-8240 or email us at info@clockworkins.com for more information.

Business Owners Policy (BOP) vs. General Liability (GL)

Posted on by admin

There are many types of insurance policies to consider for your business.  To better understand which type of insurance is best for your business let’s look at a comparison between a business owners policy and general liability insurance.

General liability insurance coverage protects against financial loss as a result of bodily injury, property damage, medical expenses, libel, slander, defending lawsuits and settlement bonds or judgements.

A business owners policy is an insurance package that generally includes commercial general liability coverage along with commercial property coverage, business interruption coverage and may include other lines of coverage tailored to your industry. 

  • Commercial general liability coverage helps assist with the cost of lawsuits or claims brought against the company for bodily injury, property damage or other advertising liability issues as a result of negligence. 
  • Commercial property coverage protects a business from losses or damage to buildings, inventory, machinery and other business property. This can include fire, theft and other hazards that occur and potentially threaten the business.
  • Business interruption coverage covers the cost of lost business due to the time it takes to return to fully operational after an event has occurred. 

In summary, all businesses should at least carry general liability but to help protect your business from a much broader range of risks the business owners policy is required. 

Clockwork Insurance Agency has agents who can review in detail the identifiable needs of your business and create a comprehensive insurance package that fits your needs. For more information call us at 504-262-8240 or email us at: info@clockworkins.com

 

Cyber Liability Insurance: What is it for?

Posted on by admin

In June 2024, a large national software provider, CDK Global, was attacked. The ransomware attack affected thousands of auto dealerships around the U.S. Every aspect of the auto dealer’s business was potentially affected, from the car buying process to servicing vehicles to some payroll systems.  This brings to light the real-life damage a cyber-attack can do. 

Customers were warned to check their credit reports, put a fraud alert or even freeze their credit with the three major credit bureaus. Also to change passwords on any dealership related apps or online payment plans they are using for their vehicles. 

Now, what can the dealerships do?

What the dealership can do to deal with this attack is contact their insurance company to verify their cyber liability coverage.  Cyber liability coverages vary depending on the business’s forecasted needs in the event of a data breach.  The main costs of a breach may include data restoration, loss of income, cyber extortion, notification costs, and crisis management expenses. 

A data breach could potentially trigger claims and lawsuits from clients or customers and a business needs to review their policy to check what is covered. Coverage may include network security and privacy liability, electronic media liability and regulatory proceedings.  

To better protect your business and your clients, set up a meeting with your insurance agent to review exactly what type and what kind of coverages you currently have. Take action by adding any additional coverage recommended and stay on top of the software your business uses.  Ask questions and be prepared as this type of crime happens without the criminal ever stepping foot in your business.

Clockwork Insurance Services offers cyber liability insurance and can assist you in reviewing your current coverages. For more information go to: https://www.clockworkinsurance.com/commercial-insurance.html

Call Clockwork Insurance Services at 504-262-8240

Coverage Highlight: What Does Workmanship Coverage Mean For Your Jewelry Business?

Posted on by admin

In the world of jewelry, craftsmanship is paramount. Skilled jewelers are dedicated to providing exceptional care and precision whether performing repairs, resizing a piece or cleaning cherished items. However, even the most meticulous artisans can encounter unforeseen issues. This is where workmanship coverage becomes crucial.

What is Workmanship Coverage?

Workmanship is a line of coverage that can be included in your jewelers’ block policy. It is designed to protect your jewelry business from the potential financial repercussions of accidental damage to customers items while performing repairs or maintenance that are in your care, custody or control.

Understanding the intricacies of jewelry insurance assists in your decisions on the coverage you need. Our team is committed to helping you navigate your coverage options, ensuring you understand the extent and limitations of your insurance. We work with you to tailor a plan that suits your specific needs, providing comprehensive protection for your jewelry business.

For more information or to get a quote on our jewelers block insurance, please visit https://www.clockworkinsurance.com and fill out the form. A representative will get back to you promptly.

You can reach us at: 504-262-8240.

Protect your jewelry business and give your clients the assurance they deserve by including workmanship coverage in your jewelers’ block insurance policy.

Contact Clockwork Insurance Services for a review of your policy.

Signs It’s Time to Update Your Homeowner’s Insurance Policy

Posted on by admin

You may think that once you have homeowner’s insurance, you don’t need to think about it anymore. However, there are times when it’s vital to update your policy. We offer comprehensive homeowners insurance at Clockwork Insurance Services in Metairie, LA.

Changes in the Value of Your Home

Many factors can affect the value of your home. If you’ve done major renovations or added a new room, notify your insurance company.

The value of your home can also fluctuate if property values in your area rise or fall.

If your home is damaged, you might not be compensated for its complete value if it has increased in worth.

Changes to Your Family

If you’ve recently had a baby or adopted one, notify your insurance company. The same applies if an elderly family member moves in. If someone has moved out of your home, updating your policy is crucial. For instance, when your teen leaves for college.

Upgrading Security

Inform your insurer if you’ve installed a security system. Security systems lessen the likelihood of vandalism and theft. This reduction in risk might also lower your insurance premiums, besides giving you peace of mind.

Changes to Pets

If you’ve recently added a new four-legged family member, your insurance policy covers liability in the event of a dog bite. It’s crucial to inform the insurance company about your new pet to ensure you are covered adequately. Also, be aware that many policies don’t cover specific breeds considered aggressive.

Homeowner’s Insurance at Clockwork Insurance Services

If you require homeowner’s insurance in Metairie, LA, contact Clockwork Insurance Services. Our approachable agents will discuss your needs and help you choose the most appropriate policy for your situation.

How do I protect my business during storm season?

Posted on by admin

One of the top ten steps to protect your business in the event of a major storm, whether it is a hurricane, or a tornado is to review your business insurance policy.

Things to consider while reviewing your policy are:

  1. Does your insurance policy include water damage protection?
  2. Does your insurance policy include clean up?
  3. What assets are protected by your current policy?
  4. Is your data covered with your current policy?

When a storm is approaching is when the business owner initiates your storm preparedness plan. Most important is to protect your employees and have a communication plan in place to get emergency information out to your team. This is the first step to protecting your business’s ability to regroup and get back to business once the storm has cleared and it is safe to return. A business continuity plan is one of the best ways to prepare for any disruption in business. This should always include the insurance coverages listed above.

Staying in touch with our clients, at Clockwork Insurance Services is included in our preparation for any disruption in business. Rest assured we will be here to provide you with answers to your questions and claims even if we are also in the path of the storm.

Clockwork Insurance Services is dedicated to assisting you with answering all your questions to give you the peace of mind you desire when facing a potential devastating storm in your area.

Call us today to set up a review of your policies and take that step to protect your business!

504-262-8240 or visit our website: https://www.clockworkinsurance.com

Flood Insurance or hurricane coverage what do I need?

Posted on by admin

In areas of the United States that are prone to hurricane’s, homeowners may be required to have flood coverage based on the zoning regulations in your area. Those not zoned to have high flood risk may want to consider adding flood coverage because your homeowners insurance may not be enough. Floods can occur anywhere and unlike homeowners or hurricane coverage, flood insurance will protect your property even if the area has not been declared a disaster by the federal government.

In states that are higher risk for hurricanes like Florida, Texas, Louisiana, North and South Carolina, Alabama, Georgia, Mississippi, New York and Virginia your homeowners most likely will have a higher deductible specifically for hurricane claims. Make sure to discuss options to lower your deductible or at least be prepared for the large deductible in case you need to make a claim. Your insurance agent can review your policy with you and assist you with this.

Peace of mind during any weather event is a top priority and taking the steps for preparation will ensure you have the protection you need. Steps you should take to prepare for a hurricane: 1. Have emergency water and non-perishable food. 2. Get a first aid kit and include at least a one-month supply of your medications. 3. Backup power sources to charge your phone and batteries for your flashlights. 4. Prepare a way to store and/or carry with you your important documents, i.e. medical documents, personal identification, wills, and insurance information.

Hurricane season officially begins on June 1st of each year so be sure to schedule a meeting with your insurance agent now to review your coverage and discuss options. Protecting your home is a step toward protecting your legacy.

Call us at Clockwork Insurance Services to discuss taking those steps to protect your legacy today at 504-262-8240

Safeguarding Your Jewelry While Traveling

Posted on by admin

The wedding is over, and you are heading to your honeymoon to celebrate! How do you protect your jewelry while you are zip lining over a tropical island?

You realize homeowners and renters’ insurance have major limitations on jewelry coverage. It certainly won’t cover your jewelry when you are flying out of state or out of the country for vacation.

Clockwork Insurance Services has some tips on safeguarding your precious jewelry while traveling along with options for personal jewelry insurance that will help you to really relax and enjoy that vacation or honeymoon.

-Never put your jewelry in a checked bag.

-Don’t flash your jewelry while traveling.

-Don’t leave your jewels in your hotel room, if you must, put in a hotel safe.

And most important make sure you have your jewelry fully insured.

For a quote on coverage go to: https://www.clockworkinsurance.com.

We all want to be able to truly relax while traveling whether it is for pleasure or business. Leaving your most valuable jewelry at home is an option but many times we want to wear our wedding rings and other important pieces to events while out of town. Get covered to add that layer of security while traveling.

Shopping for Jewelry? Protect your investment.

Posted on by Tyler Wright

You just absolutely love the ring!

This necklace has so much meaning and sentimental value to you and your family, as it was passed down from your great grandmother. These are feelings we understand.

Clockwork Insurance can cover that jewelry and ensure your concerns about loss or theft are calmed. To get a quote on what your jewelry insurance will cost, go to our home page at: https://www.clockworkinsurance.com and simply choose Personal Jewelry Insurance in the “Request a Quote” drop down menu then hit QUOTE IT. It really is that simple. You will fill in a form with basic information and we at Clockwork Insurance will take it from there.

Did you know that most homeowner policies have a cap on jewelry coverage? Purchasing insurance for your precious pieces is a way to ensure you can enjoy wearing them with the confidence of protection, should something happen. Whether lost, stolen, damaged or just mysteriously disappeared, you can be covered.

There are two basic types of coverage to consider. You can cover your jewelry with reimbursement coverage or with replacement cost coverage. If you are interested in reading about the types of coverage available you can check out this article on the Jewelers Mutual site: https://www.jewelersmutual.com/the-jewelry-box/how-does-jewelry-insurance-work-replacement-vs-reimbursement .

Feel good about buying that perfect piece of jewelry to show your loved one how you feel. Jewelry Insurance coverage is more affordable than you think and helps with your peace of mind.

Archives

Categories