Theft in jewelry stores is becoming more common and has intensified in recent years. According to Calgary Police Service statistics, organized crime in the retail sector has costs Canadians $4.6 bn. Whether it is theft, burglaries or robberies, your jewelry store must have adequate protection to prevent such risks.
Make sure you have reinforced locks on your doors
Most burglaries happen though door breakage. Insurance policies require a break-in to be able to reimburse you in case of theft. With reinforced locks, you limit the risk of burglary. Also, make sure that there are a limited number of keys in circulation. Your employees may be the ones who are responsible for the theft!
Install an alarm and CCTV system
To warn you in case of an intrusion in your jewelry store while you are away, make sure your alarm system is functional. It is strongly recommended that this alarm system have shock and opening detectors as well as a motion detectors. With a silent alarm system connected to a central station, a thief will not be warned as it would be the case with a local alarm and the security services will be able to react quickly in case of your absence.
Thefts do not only happen at night or when the store is closed. In some cases, robberies occur in the middle of the day. This is why the installation of video surveillance is essential.
Add access control
For a complete and secure installation, add badge systems to limit access to displays and limit shoplifting. Also, ensure that the vault is attached to the wall and that access to it is restricted. Check the lighting around the vault as thieves often operate in dark areas. With proper lighting throughout the store, you will discourage thieves.
Make sure that the store is opened and closed by two people and avoid keeping too much cash on hand. Go to the bank every day to deposit the money and make sure that cash transactions are not visible from the street. Empty the cash registers one to two hours before closing to avoid the temptation to steal at the sight of the money.
Cover your jewelry store
Although prevention is paramount to prevent the risk of theft, you are never safe from such an event. As such, owners of these shops will want to make sure their insurance coverage is as strong as it possibly can be on an ongoing basis to ensure they are as protected from financial loss as much as possible in these situations.
At APRIL, we understand that insurance is important for businesses that retail in jewelry or have precious stones. We have a solution for that. To learn more, please visit: https://www.april.ca/business-insurance/other-business-insurance/