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In the dazzling realm of jewelry and gemstones, the need for protection against unforeseen risks is imperative. Jewelers block insurance emerges as the guardian for those intricately involved in the trade of precious assets like jewelry and gemstones. However, determining the cost of jewelers block insurance varies from business to business. In this blog, we will explore the factors that influence costs to demystify jewelers block insurance expenses.

Table of Contents

What Is Jewelers Block Insurance?

Before diving into the factors that influence costs, let’s quickly break down the insurance coverage. Jewelers block insurance is a specialized form of inland marine insurance designed to protect businesses involved in the trade of jewelry from a wide array of risks. 

From theft and damage to transit-related mishaps and even fire, this insurance provides a comprehensive shield for the valuable inventory that constitutes the industry. The coverage extends beyond brick-and-mortar stores, encompassing risks associated with trade shows, exhibitions, and other facets of the jewelry business.

What Factors Influence Jewelers Block Insurance Costs?

Inventory Value

The cornerstone of jewelers block insurance is the value of your assets. The more extensive and valuable your collection, the higher insurance premium is likely to be. When determining insurance costs, insurers consider the replacement cost of your jewelry, including gemstones, diamonds, and other precious metals.

Security Measures

Insurers favor businesses that invest in robust security measures. Installing modern alarm systems, surveillance cameras, and secure safes can significantly reduce insurance costs. These precautions are essential for protecting your inventory while demonstrating your commitment to risk mitigation.


Just as in real estate, the location of your business matters in insurance. The security of your business location plays a pivotal role in determining your premium.

Claims History

Your claims history is a key factor in calculating insurance costs. A track record of frequent claims or high-value claims may result in higher premiums, as it indicates a higher risk profile for the insurer. Conversely, businesses with a clean claims history may benefit from lower premiums.

Type of Coverage

The scope of coverage you choose for your business influences costs. Policies with broader coverage, encompassing a wider range of perils and liabilities, generally come with higher premiums. It’s essential to strike a balance between comprehensive coverage and affordability based on your specific needs and risks.

Why Jewelers Block Insurance Is Fundamental


When it comes to assets as valuable as jewelry, jewelers block insurance is non-negotiable. In fact, total dollar losses in 2022 from crimes against U.S. jewelry firms was a staggering $129.4 million. It’s essential for any business that handles and stores jewelry, gemstones, and other precious metals to receive adequate protection. 

Oftentimes, jewelers block insurance bundles with traditional commercial property and various liability coverages, which offers jewelers a comprehensive, all-in-one policy to safeguard from the many perils they face.

Protecting the Heart of Your Business With Biscayne Risk


In the intricate world of the jewelry industry, understanding the factors that affect jewelers block insurance is pivotal for informed decision-making. At Biscayne Risk, we understand the unique needs of jewelers and offer tailored solutions to protect the heart of your business. Please contact us today to set up an appointment and learn more about the range of coverages we offer.

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