Jewelry Stores

Jewelry Stores image
Jewelry stores offer valuable items for accessorizing, giving the perfect gifts, and creating memories that individuals and families will cherish for years to come. High-traffic stores with big-ticket items need extra protection for owners, employees, and customers. Small business insurance solutions for jewelry stores from AmTrust Financial can help manage risks and provide necessary protection for your small business.

Owning and operating a jewelry store can be an incredibly exciting business. From finding and buying the best products, to placing the perfect piece with the right customer, the jewelry business is often a very rewarding one. You also face unique risks with carrying expensive items in a high-traffic environment while managing staff members. To help keep you, your staff and customers safe, the right insurance is a must. Through AmTrust, you can get coverage to help protect your store against customer claims, on-site injuries, property damage, employee negligence and more.


Workers’ Compensation for Jewelry Stores


You count on your employees to carry out a variety of jobs in the jewelry business, including sales, customer service, accounting, or even security. Keeping these valuable employees protected can be possible with the right coverage. In most states, workers' compensation insurance is required to help protect business owners and employees in the event they get hurt on the job or on your property.

Workers' compensation insurance helps to cover employee-related accidents, illnesses, and injuries. Coverage may pay the costs of necessary medical bills, surgeries, prescription drugs, rehabilitation needs, and partial lost wages if an employee becomes injured due to a workplace incident. In addition to covering claim-related costs, workers' comp may also be able to keep your business protected against lawsuits relating to employees' injuries.


Additional Business Insurance for Jewelry Stores


Jewelry store insurance is an important part of operating a successful business. As careful as you are to protect your customers and employees, accidents still happen. The right insurance coverage can let you move forward with confidence, helping to ensure that you can recover quickly.

In addition to workers’ compensation insurance, there are a variety of other insurance options designed to address specific risks for jewelry stores. Common insurance policies for jewelry stores include the following:

 

General Liability Insurance


Many of the financial risks faced by small and mid-sized businesses come from third parties. Anytime a customer sustains an injury on your property or due to a mistake made by an employee, there is the potential for a lawsuit. Such lawsuits can be financially devastating, for any business. General liability insurance can help mitigate the financial impact of lawsuits from third parties. This type of insurance also usually provides protection if a competitor sues you for libel or slander, as well as damage done to the property of third parties by your company.

 

Protect Your Property and Inventory With a Businessowners Policy (BOP)


A businessowners policy (BOP) is a wide-ranging policy that can help protect small businesses. A BOP can help you recover financially if the building you own or lease becomes damaged due to fire, weather, theft, vandalism, or any other covered event.

Having commercial property coverage in addition to general liability offers a number of advantages, especially for a jewelry store. Commercial property coverage can help to absorb the financial impact of loss and damage to your commercial property, including your store and your inventory.

Coverage often also helps protect your inventory, equipment, and products. And, if a major catastrophe prevents you from being able to keep your store open for an extended period-of-time, the policy may help you recoup some of your lost income.

 

Cyber Liability


Cybercriminals are always looking for opportunities to compromise customer data. Should your store be victimized by such criminals and a customer file a lawsuit against you, cyber liability coverage can protect you from certain losses because of a data breach. Cyber liability insurance provides can protect your jewelry store from a range of cyberattacks resulting in data breaches.


How Do I get to Get Jewelry Stores Workers’ Comp and Business Insurance


Protecting the hard work you’ve put into your business is a top priority and having the right insurance that will safeguard your work is crucial. Get the coverage you need to keep your jewelry store thriving even in the face of uncertainties. Let AmTrust Financial help you find insurance policies and coverage limits to help keep your jewelry store safeguarded. We work alongside you to find an insurance package suited to your needs. To learn more about jewelry store workers' compensation packages and other top-rated insurance products that are available through AmTrust, contact us today.
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