Pawnbrokers
The T H March Jewellers Block Policy provides cover against the normal day to day risks faced by a jewellery shop. However this would not be enough for the specific challenges faced by the Pawnbroking trade.
We are therefore able to adapt our policy to meet the specific needs of the Pawnbroking industry.
The loan agreement stipulates that the pledged item is not insured whilst in pawn. Our Pawnbroker specific policies can be extended to include the following specialist covers:
- Current Pledges - Loan amount plus lost interest (normally 25% )
- Unredeemed Pledges / Private Treaty - Loan amount plus lost interest (normally 75% )
- Buy Backs - Buy in price plus lost interest ( up to 30% )
- Customer Compensation - You can offer your customer compensation based on a multiple of the loan, being either, a sum equal to the amount of the loan, twice the loan or three times the loan. This enables you to maintain your relationship with your customer. (This does not apply to buy backs) For more information click here.
- Cheque Cashing - The cost of reconstituting the cheques in the event of loss or damage.
