The Best Protection for Jewelers

The Best Protection for Jewelers

“Do We Need Liability Insurance?” This was the title of a recent post. Many jewelry makers added thoughtful comments to help the person who posted the original question, and some of the people that commented even mentioned ACT policies, something that absolutely delighted us. Because we are an insurance company, we wanted to discuss this topic further, but we are posting our response here so as not to compromise the integrity of the original post.

Most jewelers recognize that they need some sort of protection for themselves and their business. Many of them have set up their business as a sole proprietorship. One of the drawbacks of forming a business as a sole proprietorship is that the person’s personal assets - bank accounts, cars, homes - are on the line if someone were to file a lawsuit. To keep their personal assets safe, some professionals organize their business as a Limited Liability Company (LLC). This option is fairly expensive, however, and it can make the cost prohibitive. In addition, any money that the person is forced to pay still has to come out of their business assets.

So, what else can a jeweler do to safeguard their business? How about liability insurance for jewelers? Comprehensive coverage is not as expensive as you might think and it protects the person’s personal and business finances as much as possible. The best news: if you do need to use the insurance, you are only out your premium, a deductible, and any money that passes the coverage limit. But as some insurance companies offer up to $1,000,000 of protection, you will likely be just fine. In addition, a liability policy is also easier to set up, with some companies offering instant coverage as soon as your payment goes through.

As ACT was mentioned in the original post, we wanted to give a brief introduction to the products. The Show Policy is great for those who only want up to 90 days of general liability coverage and our Annual Policy lasts for 12 months with even more coverage.

Whether you go with forming an LLC or simply buying insurance, you will have greater peace of mind as you go about your work when you know that you and your business are protected.

Want to share your experience buying insurance or setting up an LLC? Want to talk about LLC vs. Insurance? Please comment below.


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(Artists, Crafters, & Tradesmen)
260 South 2500 West Suite 303
Pleasant Grove, UT 84062
P: 844.520.6991


Stacey B. - Maine

"This is a great way to obtain insurance for trade shows. Online purchase is very convenient and affordable. I so appreciate your quick response in getting me set up."

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