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Jewelry stores

Regardless of the type of jewelry store, there are several policies any business needs. A business needs to have general liability insurance, property insurance, and worker’s compensation is required when the business has employees.

From providing jewelry cleaning, repair and resetting services to offering a wide range of rings, necklaces, earrings and other fine accessories that make lovely gifts, jewelry stores are a staple of American commerce. If you own a jewelry store, you will want to be sure to protect your valuable inventory as well as the investment you have made in your business by purchasing a suitable business insurance package. An independent agent can help you build a jewelry store insurance portfolio that can protect your business from its various exposures.

Jewelry Stores Need Specialized Coverage

Because they deal with highly valuable and easily portable merchandise, jewelers face increased risk of theft and loss. Most standard business insurance policies specifically exclude coverage for jewelry, which makes obtaining coverage solely through regular commercial insurance channels a challenge, if not impossible. This is why some insurance companies offer what is referred to as jewelers block insurance, which provides jewelry store owners with the specific coverage needed by those in their industry.

Jewelry stores sell a wide range of jewelry, including necklaces, rings, bracelets, earrings and watches. Many stores carry a selection of fine jewelry and fashion jewelry that is less expensive. You may also provide repair and re-sizing services, such as mounting stones that have fallen out of a ring, re-sizing a wedding ring or engraving rings and bracelets. As you can imagine, your store is mostly at risk from crimes like theft or vandalism, but also many others. Protect your jewelry store with business insurance.

Like other retailers and small businesses, a jewelry store needs to have commercial insurance in place to protect the business and its owner(s).  Determining the proper coverage is where using a licensed insurance professional from the onset is smart when searching for jewelry store insurance