The Hartford earned our top spot for the best small business insurer for jewelry companies due to its excellent customer service and strong stability. However, we recommend comparing quotes from our other top picks, including NEXT, Simply Business and Nationwide.
Best Jewelry Business Insurance
Updated: July 17, 2025
Advertising & Editorial Disclosure
Key Takeaways
The Hartford ties for the best business insurance company for jewelry firms with strong customer service and stability.
Simply Business offers competitive commercial insurance rates for jewelry businesses, leading in general liability and BOP coverage.
To shop for business insurance for your jewelry business, assess the risks in your industry, consult agents and other similar organizations and compare multiple options.
Best Business Insurance for Jewelry Companies
| The Hartford | 95 | 97 | 91 |
| NEXT Insurance | 95 | 94 | 94 |
| Simply Business | 94 | 98 | 83 |
| Nationwide | 91 | 90 | 91 |
| Thimble | 88 | 91 | 81 |
| Progressive Commercial | 87 | 90 | 81 |
| Hiscox | 85 | 85 | 87 |
| Chubb | 85 | 80 | 87 |
| Coverdash | 85 | 81 | 83 |
| biBERK | 85 | 80 | 91 |
*All scores were based on a jewelry business with two employees across professional liability, general liability, workers' comp and BOP policies.
1. The Hartford
pros
Cheapest professional liability pricing
Strong stability and brand trust
AM Best A+ rating
cons
Less digital flexibility
COMPANY HIGHLIGHTS
The Hartford ties for the highest ranking among jewelry businesses thanks to its balance of low professional liability pricing and reliable service. At $55 per month, it offers the most affordable coverage for errors and client claims. It’s also highly competitive for general liability and BOP plans. Backed by an A+ from AM Best, The Hartford provides peace of mind for jewelers who prioritize financial strength and claims dependability.
2. NEXT
pros
Competitive pricing across policies
Fast digital quote process
Strong customer service score
cons
Limited high-value inventory coverage
COMPANY HIGHLIGHTS
NEXT offers a strong blend of affordability and convenience for jewelry companies. Its general liability and BOP rates are among the lowest, and it ranks just behind the leaders for professional liability at $58 per month. Jewelers benefit from its fully online experience and customer-reviewed platform designed for small business owners. While it may not suit high-end retailers with expensive inventory, it’s a smart choice for boutique or handmade jewelry sellers.
3. Simply Business
pros
Lowest general liability rates
Most affordable BOP coverage
Multiple carrier access
cons
Service quality varies by carrier
COMPANY HIGHLIGHTS
Simply Business is the most affordable choice for jewelry businesses, offering the lowest average prices for both general liability ($17 per month) and BOP coverage ($310 annually). As a broker, it connects users with a range of carrier options, making it easy to compare quotes in one place. While customer support depends on the partner insurer, the flexibility in coverage makes Simply Business ideal for small retail jewelers or online sellers needing quick, low-cost protection.
Cheapest Business Insurance for Jewelry Firms
Our study shows Simply Business offers competitive commercial insurance rates for jewelry companies, leading in general liability and BOP coverage. This applies to jewelry companies with two employees, and you may find lower rates elsewhere. Below are the most affordable providers by major coverage types.
Cheapest General Liability Insurance for Jewelry Companies
With an average monthly rate of $17, Simply Business offers the lowest-cost general liability insurance for jewelry companies. Still, get quotes from the next-most-affordable insurers: Nationwide, The Hartford and NEXT Insurance.
| Simply Business | $17 | $208 |
| Nationwide | $22 | $269 |
| NEXT Insurance | $22 | $267 |
| The Hartford | $22 | $266 |
| Thimble | $25 | $296 |
| Progressive Commercial | $27 | $320 |
| Hiscox | $29 | $353 |
| Chubb | $31 | $366 |
| Coverdash | $34 | $406 |
| biBERK | $39 | $471 |
Cheapest Workers' Comp Insurance for Jewelry Companies
For jewelry businesses shopping for workers' comp insurance, Thimble tops our list as the most affordable insurer, with average rates of $13 per month or $155 yearly.
Still, it’s worth checking quotes from other low-cost insurers like Simply Business, Progressive Commercial and Hiscox.
| Thimble | $13 | $155 |
| Hiscox | $14 | $173 |
| Progressive Commercial | $14 | $167 |
| Simply Business | $14 | $172 |
| biBERK | $15 | $182 |
| Coverdash | $15 | $177 |
| NEXT Insurance | $15 | $180 |
| The Hartford | $15 | $175 |
| Nationwide | $16 | $194 |
| Chubb | $17 | $208 |
Cheapest Professional Liability Insurance for Jewelry Companies
The Hartford offers the most affordable professional liability insurance options for jewelry companies, with low average monthly rates of $55. You may also want to compare prices from other low-cost providers like NEXT, Progressive Commercial and Thimble.
| The Hartford | $55 | $656 |
| NEXT Insurance | $58 | $694 |
| Progressive Commercial | $58 | $695 |
| Thimble | $60 | $718 |
| Hiscox | $61 | $730 |
| Simply Business | $61 | $727 |
| Coverdash | $62 | $740 |
| biBERK | $63 | $753 |
| Nationwide | $66 | $792 |
| Chubb | $71 | $855 |
Cheapest BOP Insurance for Jewelry Companies
Simply Business offers the most affordable business owner's policy (BOP) coverage for jewelry companies, with an average yearly cost of $310 for bundled general liability and property protection. That's a savings of roughly $28 annually compared to The Hartford, the second most affordable option.
| Simply Business | $26 | $310 |
| The Hartford | $28 | $338 |
| NEXT Insurance | $32 | $387 |
| Nationwide | $34 | $404 |
| Thimble | $38 | $459 |
| Progressive Commercial | $40 | $480 |
| Hiscox | $44 | $531 |
| Chubb | $46 | $552 |
| Coverdash | $49 | $587 |
| biBERK | $52 | $620 |
What Type of Coverage Do You Need for a Jewelry Business?
Companies with employees need workers' comp insurance, and businesses that use vehicles must have commercial auto coverage. Many clients or contracts also require businesses to carry general liability insurance before starting work. You might also need a surety bond in certain industries, especially when contracts require guarantees of service or compliance.
RECOMMENDED JEWELRY BUSINESS COVERAGE
We recommend general liability insurance for jewelry businesses, even if it's not legally required, as it covers risks like bodily injury and property damage. Professional liability insurance is also a smart option for businesses that work under client contracts or provide specialized services. This coverage becomes especially useful for companies offering specialized services or handling large contracts where the risk of disputes is higher.
How to Get the Best Cheap Business Insurance for Your Jewelry Company
Here's a step-by-step method for finding the best and cheapest business insurance for your jewelry company.
- 1
Decide on coverage needs before buying
Think about what could go wrong in your jewelry business, get advice from similar businesses, talk to agents and research the types of business insurance. This helps you understand your coverage needs and prevents you from buying excessive coverage.
- 2
Research costs
Research average costs for your business profile and find which providers offer the cheapest rates overall. This gives you a reference point for how much you're saving when comparing quotes and which companies to start with.
- 3
Look into company reputations and coverage options
Research what customers say on online rating sites and forums to get a better look at company services. Also, check coverage options to make sure you're covered for the right items, both now and as your business grows.
- 4
Compare multiple quotes through different means
The best way to find a good deal is to compare multiple quotes for the same coverage. Pricing changes based on your comparison method, whether with captive agents, comparison sites, company websites or independent agents.
- 5
Reassess annually
Your business will change, affecting your rates and coverage needs. Repeat these steps annually to ensure you still have the best deal.
How to Decrease Your Jewelry Business's Liability Risk
Reducing liability risks helps jewelry businesses manage insurance costs effectively. We've organized risk mitigation strategies by business type to help you find the best approach for your specific needs.
Jewelry Business Risk Type | Included Types of Jewelry Businesses | Risk Mitigation Tactics |
|---|---|---|
Highest | Retail jewelers with in-store inventory, high-end custom designers, goldsmiths, multi-location retailers | Install UL-rated safes and monitored alarm systems. Require background checks for all employees. Carry inland marine coverage for transport and commercial property coverage for in-store losses. Regularly appraise high-value stock and maintain secure point-of-sale systems. |
High | Jewelry manufacturers, wholesale distributors, mobile vendors at trade shows | Implement loss prevention protocols for transit, including bonded couriers. Maintain quality control documentation and secure off-site storage for overflow stock. Use product liability insurance for materials defects and tools & equipment coverage for workshop operations. |
Moderate | Online jewelry sellers (Etsy, Shopify, etc.), home-based custom makers | Use trackable shipping with insurance. Disclose material types and care instructions to reduce return claims. Carry general liability, professional liability (for design issues), and cyber liability for e-commerce operations. |
Low | Jewelry appraisers, consultants, repair-only shops | Require written disclaimers before evaluations or services. Use camera documentation during repairs. Maintain errors and omissions (E&O) coverage and limit physical inventory exposure. Carry professional liability and general liability coverage. |
Best Insurance for Jewelry Business: Bottom Line
The Hartford ties for the best insurer for jewelry business insurance, while Simply Business offers competitive rates for general liability and BOP coverage. We also recommend getting quotes from NEXT and Nationwide. For the best deal, talk to agents, research providers and pricing and compare multiple quotes side by side.
Jewelry Business Insurance: FAQ
Below, we answer common questions about jewelry business insurance.
Who offers the best jewelry business insurance overall?
The Hartford offers excellent business insurance for jewelry companies, boasting top-notch customer service and an impressive MoneyGeek score of 95 out of 100. NEXT is a close runner-up.
Who has the cheapest business insurance for jewelry companies?
Here are the cheapest business insurance companies for jewelry businesses by coverage type:
- Cheapest general liability insurance: Simply Business at $17 per month
- Cheapest workers' comp insurance: Thimble at $13 per month
- Cheapest professional liability insurance: The Hartford at $55 per month
- Cheapest BOP insurance: Simply Business at $26 per month
What business insurance is required for jewelry organizations?
Workers' compensation insurance (if you have employees) and commercial auto insurance (if you own business vehicles) are legally required for jewelry businesses, with requirements varying by state. While not legally mandated, general liability insurance and surety bonds are effectively required by most commercial clients and property leases.
How much does jewelry business insurance cost?
Business insurance costs for jewelry companies vary based on your inventory value, store location and whether you sell online or in person. Here are the average monthly costs for the most common types of coverage:
- General liability: $27 per month
- Workers comp: $15 per month
- Professional liability: $62 per month
- BOP insurance: $39 per month
How We Chose the Best Jewelry Business Insurance
We selected the best business insurer for jewelry companies based on the following criteria:
- Affordability (50% of score): The lower a company's costs compared to the competition based on our base profile for four core coverage types, the better it performs.
- Customer service (30% of score): We scored providers on overall customer satisfaction using industry studies, customer review forum ratings and public forum sentiment analysis from sites like Reddit.
- Coverage (15% of score): We scored business insurance for this category based on the flexibility, payment and actual coverage options.
- Financial stability (5% of score): Using financial stability industry ratings from companies like AM Best and Moody's, we created an overall rating to judge how likely a company is to pay out claims compared to the competition.
All pricing in this article is based on the following base profile to represent the vast majority of small businesses in all states:
- Three-person business with two employees
- Coverage: $1 million per occurrence and $2 million total per year for all but BOP, which includes the same coverage plus $5,000 of business property coverage
- $150,000 in payroll
- $300,000 annual revenue
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
sources
- AM Best. "Hartford Fire Insurance Company." Accessed June 16, 2025.
- NEXT. "Customer Reviews." Accessed June 16, 2025.