Customer Merchandise, Responsibility and Insurance

Dear Folks, Years ago I did some trade work. Today, my work is
design and some repair in the retail side of the industry. Those
years ago when in the “trade shop” business, I was naive and
somewhat learning the waters. I required all my business customers
to be responsible for any loss due to theft, etc. of their
merchandise while in my hands. The wholesale price of sizing a
$3000 ring would not cover the insurance for that item! This was a
signed agreement and no problem came from it, even when I was
burglarized and got out of the trade work. The problem was some who
sought claims against me when already paid by their own insurance!

Nowadays, if you are familiar with work for the trade, how is this
matter of responsibility addressed? If you are a hobbyist or
individual creative artists some attention should be paid to just
"whom is responsible" for losses. A friend who loses a ring when it
was in you possession might easily become no more friend but a legal
participant with you pocketbook to pay.

How do you as a trade shop operator handle the responsibility and
how could you as an individual handle the same? Your thoughts will
be appreciated.

God Bless. TomDart. @Sp.T