Insurance for Jewelry Stores
Get business insurance with optimized coverage to meet your exact needs
Leave your email so that your quotes will be sent directly to your inbox.
We won't spam you, we hate it too.
Prefer to speak with a CoverWallet consultant? Call (646) 844 -9933 anytime.
Coverage Plans for All Your Needs
Essential coverages for your jewelry store
General Liability (GL)Instant quote »
- Coverage against claims from bodily injury, property damage and personal injury
- Coverage for products/completed operations
When you also have equipment or operate from a store
General Liability + Property (bundle them with a BOP)Instant quote »
All Basic plan benefits and:
- Bodily injury
- Damage to third party property
- Business personal property
- Personal injury
- Lost business income
- Equipment breakdown
Get protected against employment-related issues
Business Owners Policy (BOP) + Workers Compensation*Instant quote »
All Standard plan benefits and:
- Coverage for work-related accidents and disease and subsequent:
- Ongoing medical care (such as rehab)
- Missed wages during recovery
- Ongoing medical care (such as rehab)
*plus Workers Compensation
We've Got You Covered with Coverage You Need
Just like any retailer, jewelry stores need general liability and commercial property insurance. If you handle precious stones or high-value items, you also need jewelers block insurance. If you have employees, you need worker’s compensation, employee dishonesty, and employment practices coverage.
Covers loss of business property by paying to replace or rebuild what is damaged and lost in the event of a fire or other covered scenario. It is important to add Business Interruption insurance to this policy. It pays you lost revenue while you are unable to operate due to a property loss.
Workers' Compensation is a kind of insurance benefit that provides medical benefits and wage replacement to employees who are sick or injured on the job. The sick or injured employee receives Workers' Compensation insurance regardless of who is at fault. Because this acts as a type of insurance, the employee is then relinquished their rights to sue the employer for negligence.
It is not possible to monitor your business 100% of the time. Crime insurance is designed to protect your business from loss due to crimes like counterfeiting, theft and fraud, forgery and other related crimes. It concerns the loss due to crime within the office, damage to company property as a result, fraudulent deals, hacking your company computers and other related crimes.
Protects you from claims alleging personal injury or property damage to a third party while in your store.
Umbrella Liability is an additional liability insurance that sits on top of your insurance policy and provides coverage if a claim exceeds your policy limits. Adding extra liability coverage will make sure that policies that usually exceed the limits are covered. It not only provides additional limits but also provides coverage that is not available in your underlying insurance policies.
Frequently Asked Questions
Why do Jewelry Stores need Insurance?
Jewelry stores are a unique retail shop. You don’t just sell a product; you make it possible for customers to create and buy a meaningful gift for loved ones. From engagement rings, pearl necklaces, anniversary pendants, and charm bracelets; customers can mark every occasion with a special memento. As a jewelry store owner, you know how important it is to have business insurance in place. Jewelry store insurance protects you from unforeseen events that can cost you everything.
This industry accommodates businesses that retail one or more of the following: new earrings (except gown earrings); new sterling and plated silverware; and new watches and clocks. Also included are establishments that retail new merchandise in combination with lapidary paintings and/or repair services.
What are risks Jewelry Stores could face?
It’s easy to think that jewelry stores only face one significant risk – theft. That is a big risk, but there are others along with it you need protection against:
- Theft: Handling high-value merchandise makes you a target for thieves. Even with the best security systems, today’s thieves are capable of breaking in undetected leaving you with no merchandise and a hefty expense to replace it.
- Damage to Jewelry: Many jewelers offer jewelry repair and cleaning. Customers trust you with their most prized possessions, but accidents do happen. If you damage, break or misplace their jewelry, you will need to pay to make it right.
- Dishonest Employees: Hiring honest employees should be easy, but once in awhile a bad employee is plausible. Jewelry store employees work directly with the merchandise, and over time it’s easy for them to steal or embezzle funds.
- Fire Damage: Nobody wants to think about a fire, but they do happen. When a fire destroys your building and all of its contents, the cost to rebuild and replace in addition to being without an income is enough to put you out of business indefinitely.
How much does Jewelry Store Insurance cost?
There is a large variety of types of jewelry stores. Depending on your merchandise value and location, the cost of jewelry store insurance varies. Most insurance carriers ask for information on security features, the value of merchandise, and what specialty services you offer. You can get a quote today for Jewelry Store Insurance by filling out our form online.
What is Jewelers Block insurance?
The problem with conventional insurance policies is that precious metals and gems aren't covered by the insurance. Jewelers' Block insurance covers many of the risks involved in your business. The insurance is like an Inland Marine insurance but with far higher limits and better coverage that is fit for your business.
Peace of Mind, At Your Fingertips
CoverWallet utilizes state of the art technology to help small businesses understand and buy customized coverage, get significant savings and conveniently manage their insurance, in a matter of minutes, all through our online platform.
We are making headlines!
The Power Behind CoverWallet
Algorithms, Science, Magic!
You wanted better protection and cheaper pricing. So did we. We baked that dream into everything we've set out to accomplish in building our award winning platform.
Customized, Intelligent Application
We have one! How much could we have really improved the insurance purchase process? Try us! We ask only the questions you need to answer, nothing more.
State of the Art Technology
We've built all our fancy tech from scratch, which allows us to get you certificates on demand, free of charge, and for us to find you savings.