Jewelers / Jewelry Store Insurance Cost
Retail Insurance Cost Analysis

Irrespective of business size or policies purchased, the average cost of retail insurance for jewelry stores in 2014 was $1,160.00. The median cost was $557.58.

Which Types of Business Insurance Do Jewelers Buy?

Small jewelers tend to buy insurance policies that protect them against the risks associated with having customers in the store and policies to protect their valuable merchandise. Many of the jewelry stores we serve choose General Liability Insurance (which helps cover the costs associated with customer slip-and-fall injuries) and Business Owner's Policies (BOP Insurance), which combine General Liability Insurance with Commercial Property Insurance. In many cases, jewelers can benefit from a Jeweler's Block policy, which is a specialized kind of coverage for protecting the high-value merchandise jewelers sell. For more information about which policies make the most sense for your business, contact an Insureon agent.

HOW MUCH IS
General Liability Insurance?

How much is General Liability Insurance for Jewelry Stores?

Jewelry stores ($524.10) pay slightly less than retailers in general ($591.13) and small businesses in general ($591.45) for a $1M/$2M General Liability Insurance policy.

HOW MUCH IS
a BOP?

How much is a Business Owner's Policy for Jewelry Stores?

Jewelry stores pay significantly more for a BOP ($1,670.14) than retailers in general ($965.29) and small businesses in general ($769.94).

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HOW MUCH IS
Workers' Comp?

How much is Worker's Compensation Insurance for Jewelry Stores?

Jewelry stores pay significantly less for Workers' Compensation insurance ($819.60/year or $186.57/employee/year) than do Insureon's retail clients in general ($1.430.49/year or $603.87/employee/year), but more than our average small business client ($656.78/year or $401.17/employee/year) because those who purchase WC through Insureon tend to have more employees (4.4) than our average WC client (2.11).

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