I have been looking for product liability insurance for my small
jewelry business. My sales are done thru the internet so there is no
store front. No customers are coming to my studio. I would also love
to have some insurance to cover the relatively small amount of raw
materials I have at hand. The amount of finished work inventory is
also really small. So far I could only get a quote for $600 from
Jewelers Mutual which included coverage that I do not need. I would
love to find an insurance company that offers a more
suitable/affordable coverage. Most of my work is in silver with only
small amounts of gold and stones.
I have no idea what the probablitlity is to ever need liability
insurance for what I do (mostly custom rings). Is it a good idea to
get it? Are there cases where jewelrs got sued because people got
harmed by a piece of jewelry?
If you can recommend an insurance company for a small business like
mine, please let me know.