Jewelers block insurance is essential for any business that owns, sells, repairs, stores, or transports jewelry, diamonds, gemstones, watches, or precious metals. Because these items are high-value and high-theft targets, they are usually excluded or severely limited under standard business insurance policies. Jewelers block insurance is designed specifically to protect jewelry businesses from these unique risks.
If your business handles jewelry at any point—whether it’s displayed in a showroom, stored in a safe, shipped to a customer, or carried to a trade show—you likely need jewelers block insurance.
Retail Jewelry Stores
Brick-and-mortar jewelry stores are the most common users of jewelers block insurance. These businesses face daily exposure to burglary, robbery, fire, and accidental damage. Jewelers block insurance covers inventory inside the store, in safes or vaults, and often after business hours. A standard Business Owners Policy (BOP) typically provides little to no coverage for jewelry inventory.
Wholesale Jewelers and Diamond Dealers
Wholesalers and diamond dealers usually hold large volumes of extremely valuable inventory. They also move goods frequently between suppliers, cutters, setters, and buyers. Jewelers block insurance protects diamonds, gemstones, and finished jewelry both on-premises and while in transit, which is critical for wholesale operations.
Custom Jewelers and Jewelry Designers
Custom jewelers work with raw precious metals, loose stones, works in progress, and finished pieces. They often also hold customer-owned jewelry during design or modification. Jewelers block insurance provides coverage for materials at every stage of the process, including customer property while it is in the jeweler’s care, custody, or control.
Jewelry Repair Shops
Repair businesses regularly take possession of customer jewelry, which may be worth far more than the shop’s own inventory. If a customer’s ring, watch, or necklace is lost, stolen, or damaged while being repaired, the business could face a significant financial loss. Jewelers block insurance covers customer items while they are being worked on or stored.
Watch and Luxury Timepiece Dealers
Luxury watches often carry price tags in the tens or hundreds of thousands of dollars. Jewelers block insurance protects these high-value timepieces against theft, damage, and loss, whether they are displayed in a case, stored in a safe, or being shipped to or from customers.
Online and E-Commerce Jewelry Sellers
Businesses that sell jewelry online face increased exposure during shipping. Packages can be lost, stolen, or damaged while in transit. Jewelers block insurance provides coverage for inventory shipped by mail, courier, or carried by the business or its employees, helping protect online jewelers from costly losses.
Trade Show and Trunk Show Jewelers
Jewelers who attend trade shows, exhibitions, or private trunk shows travel with inventory and display it outside their main location. Jewelers block insurance extends coverage off-premises, including convention centers, hotels, and temporary event spaces.
Pawn Shops and Estate Jewelry Buyers
Pawn shops and estate jewelers often hold jewelry taken as collateral or purchased for resale. These items are frequently excluded under standard pawn or retail insurance policies. Jewelers block insurance ensures this high-value inventory is properly protected.
Who May Not Need Jewelers Block Insurance
Businesses that sell only low-value fashion or costume jewelry may not need jewelers block insurance. However, once item values increase or inventory is regularly transported, specialized coverage becomes necessary.
Bottom Line
Any business that handles valuable jewelry should carry jewelers block insurance. It is the foundation of risk protection for jewelers and is often required by landlords, lenders, suppliers, and trade shows. Without it, many common jewelry losses are simply not covered.