Jewelers Block Insurance is a specialized insurance policy designed to protect jewelry businesses from financial loss involving high-value items such as jewelry, diamonds, gemstones, watches, and precious metals. Unlike standard commercial property or business owner’s policies, Jewelers Block insurance is built specifically for the unique risks jewelers face, including theft, burglary, robbery, damage, and loss while items are in transit or temporarily off-site.
At its core, Jewelers Block insurance is typically written on an all-risk basis, meaning it covers most causes of loss unless they are specifically excluded in the policy. This makes it the primary and most important insurance coverage for anyone involved in the jewelry trade.
What Does Jewelers Block Insurance Cover?
Jewelers Block insurance protects a wide range of jewelry-related property, including finished jewelry, loose diamonds and gemstones, watches, precious metals, and customer property entrusted to your business for repair, appraisal, or consignment.
Common covered risks include:
- Theft and burglary, including smash-and-grab incidents
- Robbery, both on-premises and off-premises
- Fire and smoke damage
- Water damage and accidental breakage
- Mysterious disappearance (subject to policy terms)
- Loss or damage while shipping or transporting inventory
Coverage generally applies whether inventory is in showcases, safes, or vaults, and often extends to jewelry being carried by the owner or employees, sent by mail or courier, or taken to trade shows and temporary locations.
Who Needs Jewelers Block Insurance?
Jewelers Block insurance is essential for any business that sells, manufactures, stores, transports, or handles jewelry. This includes retail jewelry stores, wholesale jewelers, diamond dealers, custom jewelry designers, manufacturers, online jewelry sellers, pawn shops, and jewelry repair or appraisal businesses.
If your business owns jewelry inventory or holds customer jewelry in its care, custody, or control, Jewelers Block insurance is considered a necessity rather than an optional policy.
What Jewelers Block Insurance Does Not Cover
While coverage is broad, Jewelers Block insurance does have exclusions. Common exclusions may include normal wear and tear, intentional acts, fraud committed by the business owner, war or nuclear events, and losses resulting from failure to maintain required security systems. Some policies may also exclude unexplained inventory shortages unless an endorsement is added.
Security requirements—such as burglar alarms, safes, vaults, and camera systems—play a critical role in determining coverage eligibility and claims approval.
Jewelers Block vs Standard Business Insurance
Standard business insurance policies, including Business Owner’s Policies (BOPs) and commercial property insurance, typically place very low sub-limits on jewelry or exclude it altogether. These policies are not designed to handle high-value inventory or off-premises exposure.
Jewelers Block insurance fills these gaps by offering higher limits, broader protection, and coverage tailored to the jewelry industry.
Why Jewelers Block Insurance Is Important
Jewelry businesses face a higher risk of theft and loss than most retail operations, and even a single incident can result in a significant financial setback. Jewelers Block insurance helps ensure business continuity, protects customer property, satisfies landlord or lender requirements, and provides peace of mind.
Bottom Line
Jewelers Block Insurance is the cornerstone coverage for jewelry businesses. It offers comprehensive protection for high-value inventory that standard insurance policies cannot, making it essential for protecting your assets, your customers, and your business’s long-term success.