Business Insurance

Hello all, I have a good number of leads for business insurance
agencies, however I know very little about their reputations. I’m
looking for insurance to cover jewelry and show supplies when
traveling to craft fairs, as well as for machinery etc at the home
based business. I’m looking for horror stories, happy endings
stories, and any other relevant experiences with different agencies.
Thanks in advance, Diana

Try Jewelers Mutual in Neenah, WI. They are the only insurance
company that deals exclusively with jewelers.

Daniel R. Spirer, GG
Spirer Somes Jewelers

Try Jewelers Mutual in Neenah, WI.  They are the only insurance
company that deals exclusively with jewelers. 

The problem with Jewelers Mutual is that they deal primarily with
retail or wholesale establishments as opposed to small, studio-based
(and home-based) enterprises; and their application forms ask for
that really doesn’t apply to most very small operations;
and their policies are usually bundled to give coverage in many
areas, most of which are irrelevant to the small timer; and they’re
very expensive (not that any insurance is cheap).

For coverage traveling to and from shows, at shows, in hotels, in
transit to galleries (and a few bundled items you may not need but
they’re relatively minor), try Capacity Coverage Company of New
Jersey/Insurance Resource Group. They offer a Jewelry Floater
underwritten by Lloyds of London.

The person who developed the Jewelry Floater is Michael Bergstein;
his daughter is the Jules in “Just Jules” jewelry. It was because
he’s the father of a jeweler who does lots of shows that he realized
the need for such a policy.

One caveat: While I have had this insurance for several years, I
have never had to file a claim so I have no idea how quickly or how
hassle-free getting compensation for a loss might be – and I hope I
never have to find out. Jeweler’s Mutual, on the other hand, has been
in this business for umpteen years and has a very good reputation in
this respect.

You can reach Capacity/IRG at 201-236-9800


Hello Everyone!

I’m looking to write a new insurance policy for my business and am
wondering if you have experiences, good & bad, that you might be
willing to share in regards to specific carriers. I have a workshop
in my home and another in an artists mill building, sell both
wholesale and retail and do an occasional show here and there.

Any insight is greatly appreciated!

Pam Farren
Newburyport, MA

Hello Pam, Wow, it’s good to here from someone in Newburyport. I
used to live there. Sure miss Plum island. Oh! Insurance. Jewelers
Mutual is probably the most common carrier. When I got a Craftsman
policy they required a safe, alarm system, and inspection of my work
space. If you don’t deal with other peoples jewelry i.e. whole sale
accounts I’d forget it. Home security would probably involve an
alarm system for the whole house. It is a little more expensive than
a studio. I don’t believe you can insure a multi-unit dwelling,apt.
Even if you do insure a studio they will be looking at the security
of the space, especially if you are in a shared work area. My policy
covers x-amount on the premise, and a lower amount outside the
premise. I can’t give you dollar amounts as we are in different
parts of the country. Another problem that may or may not be true,
is the cancellation of the policy or at least the increase in your
policy if you use it. You also have to inventory everything. Part of
the policy covers items in the safe and another amount for bench
stuff, gold, solder, tools, and stuff like that. Your security
system also has to be monitored, another expense. You need to call
insurance companies and ask around. If it isn’t required by your
wholesale accounts, or you are not carrying a fairly large
inventory, I’d let it rest until you can’t afford to replace
whatever you might loose by scrimping and saving. Good luck,and get
on the phone.

Regards, Craig
PS just get a safe and secure the doors and windows.

I would contact Marlene Richey who is now the head of Membership at
MJSA. They can direct you to the right people who understand
insurance of jewelry fabrication large and small.


School for Jewelry and the Metalarts
50 Guinan St.
Waltham, MA 02451
781 891 3854

Another problem that may or may not be true, is the cancellation of
the policy or at least the increase in your policy if you use it 

Jewelers Mutual won’t cancel your policy if you have a loss, but you
do lose your loss free credits if you experience one, which will
raise your rates. You then have to have a certain number of years of
loss free business to regain them (I don’t know the numbers, just
that it’s the way they do it). Other insurance companies, however,
now seem to regard themselves not so much as insurers but simply as
money lenders and they will bail on you after losses.

Daniel R. Spirer, G.G.
Daniel R. Spirer Jewelers, LLC
1780 Massachusetts Ave.
Cambridge, MA 02140


I worked with my homeowner’s insurance agent for a couple years
before I got my home owner’s insurance (Fireman’s Fund) to cover my
home studio. I had to buy their premium home package and it only
covers $25,000 of business insurance. Mostly I was concerned that if
a fire started at my soldering station that burned down the house,
would I be covered by my home owners fire insurance. The insurance
company was more concerned about customer law suits if I
misrepresented the metal, stones in my jewelry. Go figure. Anyway,
with persistence I got the coverage with no questions about security
systems, safes, sending in an inventory, etc. Also covers goods when
I am on the road. For my small business this is sufficient and I can
sleep at night knowing if the worst happens, my insurance company
was fully informed about what I am doing in my home studio. Playing
with fire!!

Cynthia Clearwater

It’s not all that difficult to get the insurance company to accept
your money; the problems arise when you make a claim.

I just went through adding this to my homeowners policy, too. The
total increase was $16.00 per year, and I had them actually write
into it that I was using an acetylene gas tank at my home.


My insurer is
RLI Insurance Co.
9025 N. Lindbergh Dr.
Peoria, IL 61615

I have a local agent in Sacramento, CA, but the above is the “home
Office.” I had a theft of all my product out of my van. They paid
within days of getting the claim, and not only did not raise my
rates, for some unknown reason, they actually went DOWN this year.

Bev Ludlow
Renaissance Jewelry