Insurance for Jewelry Stores

Jewelry store owners deal with precious metals and expensive items on a daily basis. They must earn and keep the utmost trust of both their suppliers and their customers in order to prosper in business. Jewelry stores are rarely run by just one person, thus as the store owner you have the added responsibility of hiring, retaining and managing trustworthy employees.

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General Liability

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Property Coverage

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Workers Compensation

Despite your best efforts, no one person is infallible and no business exists without risks. To mitigate the most common business risks in your jewelry store, there are several types of commercial insurance coverage options you will need to secure.

General Liability

General liability insurance is a basic insurance coverage policy that tends to cover problems or potential liabilities that other commercial insurance policies do not. General liability protects you from accidents a customer may have inside your retail store.

Business Owners Policy (BOP)

Business owners insurance protects the physical assets of your jewelry store itself. The building that your store is located in for example, special equipment, furnishings and design inside, and outdoor elements such as your business sign are all protected from loss and damage with a business owners policy. If a vehicle destroys your business sign for example, or a neighboring business catches on fire and causes smoke damage to your interior design elements, the business owners insurance policy covers the cost of replacing and repairing these items.

Commercial Auto

If your jewelry store makes deliveries to customers you will need a commercial auto insurance policy. Anytime you use a vehicle for business purposes — whether you are making a delivery to a customer or you are meeting a customer to discuss a new contract — if you or one of your employees is involved in an auto accident the business auto insurance policy helps cover damage, loss and medical expenses associated with the accident.

Workers Compensation

The employees who work in your jewelry store must, by law, be covered by workers comp insurance. Each state has slight differences in the level of coverage that you need to have for your employees, but this commercial insurance helps protect you and your employees simultaneously. If an employee is injured while working at your store or while conducting work activities away from the store, workers comp insurance pays for the associated recovery expenses and prevents your company from having to settle expense lawsuits with the employee.


bond is a financial guarantee that you will provide a product or service according to the terms of a contract. If for example, you sign a contract with a client that states you will custom create a special diamond necklace by a certain date and at a certain price, the bond acts as a guarantee that you will live up to that promise. If unforeseen accidents occur that prevent you from being able to make the specific piece of jewelry or being unable to have it ready by the agreed upon time, the surety bond will pay your customer for associated damages.