Does your insurance policy cover every kind of loss? Keep the following tips in mind when evaluating or purchasing insurance for your merchandise.

• Fine print. Some policies do not cover "mysterious or unexplained disappearances." Watch out!

• Deductibles. Premiums are cheaper if your deductible is $10,000 or more.

• Coverage limitations. Make sure your policy covers both watches and jewelry. Make sure you're covered not only in your store, office, or home, but also on the road.

• Make sure you are covered on "Memos."

• Proof of loss. Record all serial numbers, and keep a very good description of each item, ideally a photograph or even a photocopy of the item.

• Cost of insurance. Top insurance underwriters have competitive rates. The cheapest insurance is not necessarily the best.