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.
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.
A 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.