From the display case to the vault, the showroom and the auction floor — gems and watches carry risk every time they move. Jeweller's Block protects precious metals, gems, fine watches, luxury goods and antiques across the whole span — store, vault, transit, exhibition and auction — on a worldwide All Risks wording. For jewellery/watch dealers, duty-free, auction houses and collectors — compare 6 insurers on Chubb's global underwriting standard.
Jeweller's Block insurance covers high-value goods — precious metals, gemstones, fine watches, luxury goods (handbags, accessories), art, antiques and rare coins — on an All Risks basis across stock, transit, exhibition and trade shows, under a worldwide standard wording. It suits jewellery/watch dealers, duty-free stores, auction houses, museums, galleries, luxury-goods distributors and private collectors.
| Line | Jeweller's Block |
|---|---|
| Subject | Precious metals, gems, fine watches, luxury goods, art, antiques, rare coins |
| Typical insureds | Jewellery/watch dealers, duty-free, auction houses, museums, galleries, luxury distributors, private collectors |
| Insured | Policyholder and named consignees |
| Insurers | Chubb (dedicated Jeweller's Block) · AIG · DB |
| Governing law | Article 638 of the Commercial Act; Cultural Heritage Protection Act (where applicable) |
| Period | 1 year (short-period for auctions/exhibitions available) |
| Limit | Based on appraisal / appraisal certificate |
Worldwide cover across store, vault, transit, exhibition, working, repair and auction
Loss/theft while on memo (approval) between client and dealer — a core industry endorsement
Unexplained-loss cover within a limit (typically 10–20% of stock)
Automatic cover for temporary moves to overseas fairs, exhibitions and auctions
Stock appraised at around ₩5bn (diamonds, fine watches): ₩3bn vault / ₩1bn display / ₩1bn in transit. ALL RISKS Worldwide + Mysterious Disappearance recommended. The premium is confirmed after the insurer's underwriting review of appraised value, vault grade, guarding spec and loss history.
A one-off auction of contemporary art and antique watches. Cover from appraisal to sale to delivery (1 month), on a short-period pro-rata rate. The premium is confirmed after the insurer reviews lot value and the exhibition/auction schedule.
Around ₩20bn on display (paintings, sculpture, installation). All-Risks permanent + loan/touring endorsement. The premium is set after a combined review of appraised values, display environment and security grade.
Situations we see often — a quick self-check by scenario
Covers theft, robbery and damage in display and storage.
Covers fortuitous loss to high-value stock broadly.
Covers loss or theft while carried or in transit.
Acceptance terms are set by the premises and the safe standard.
The wording and structure points most often overlooked
Storage conditions such as safe grade and security systems drive acceptance and rating.
A separate limit may apply when goods are carried or moved outside the premises.
You need books and valuation evidence to value and prove the stock.
The items checked most before buying
Full Korean statutory disclosures — depositor protection, tax treatment, signature requirements, the insurance-fraud reporting center and dispute resolution — are provided on the Korean version of this page.
Jeweller's Block · comparison quote
We design All Risks Worldwide cover across store, vault, transit, exhibition and auction, with the industry-key Memo & Consignment and Mysterious Disappearance endorsements.
Coverage, exclusions and limits are governed by each insurer's wording, and the final premium is confirmed after the insurer's underwriting review. Our fee is paid by the insurer, so there is no extra cost to you (Article 98 of the Insurance Business Act).
N2N Insurance Brokerage is an independent insurance broker registered with the Financial Supervisory Service of Korea (Registration No. 2026-012201). Our placements are arranged with insurers authorised in Korea, so before we quote we need one of the following to be true.
Where the insured, the risk and the entire transit all sit outside Korea, we are unable to assist. A number of jurisdictions prohibit non-admitted insurance, and a policy issued in Korea may not be recognised locally for customs clearance or under a letter of credit. In those cases we would encourage you to approach a broker or insurer licensed in the country concerned.
Terms, conditions and acceptance are determined by the insurer's underwriting review.
