Jewellery Stores Insurance
Keep on crafting and selling jewellery with Jewellery Stores Insurance.
Questions? Call us now on
What is Jewellery Stores Insurance?
Jewellery Stores Insurance is a specialised type of Business Insurance crafted for retailers who sell, design or repair jewellery. It combines various coverages to protect your stock, premises and operations from risks such as theft, damage or liability claims. Unlike general Business Insurance, it’s tailored to address the high-value inventory and specific challenges of the jewellery industry.
What Does It Include?
Jewellery Stores Insurance typically includes:
01
Stock Coverage: Protects your inventory, including precious metals, gemstones and finished pieces, against loss or damage from theft, fire or natural disasters.
02
Property Insurance: Covers your store’s physical space, equipment and fixtures if they’re damaged by events like storms or vandalism.
03
Public Liability Insurance: Protects you if a customer or visitor is injured on your premises or if you accidentally damage someone else’s property.
04
Business Interruption: Compensates for lost income if your store has to close temporarily due to a covered event like a fire.
05
Employee Dishonesty Coverage: Protects against losses caused by theft or fraud by employees.
Who Requires Jewellery Stores Insurance?
If your business deals with jewellery in any capacity, you likely need this insurance.Â
Here’s who should consider it:
.webp){kind=icon}
Retail Jewellery Stores: If you have a physical shopfront selling rings, necklaces or watches, you’re exposed to risks such as theft or customer injuries.
Jewellery Designers: Custom designers working with expensive materials need coverage for their stock and tools.
Online Jewellery Retailers: Even without a physical store, you face risks (e.g., shipping losses or cyber threats if you sell online).
Jewellery Repair Shops: Handling customers’ valuable items comes with risks, including accidental damage or loss.
Wholesalers and Distributors: If you supply jewellery to other businesses, you need protection for stock in transit or storage.
Frequently asked questions
Does it cover jewellery displayed at trade shows or exhibitions?
Yes, it can include coverage for off-site displays, such as trade shows or pop-up events. However, you’ll need to specify this when setting up your policy to ensure your stock is protected.
Can I insure antique or vintage jewellery in my inventory?
Yes, but these items often require special appraisals due to their unique value. Insurers may ask for detailed documentation or expert valuations to ensure accurate coverage.
What if I store jewellery off-site like in a vault?
Most policies can extend coverage to off-site storage, such as a secure vault or warehouse, but you’ll need to declare these locations to your insurer for full protection.
Can I get insurance for seasonal stock increases?
Yes, many insurers offer flexible policies that adjust coverage for peak seasons (e.g., Christmas) when your inventory might double in value.