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What Insurance Do I Need for an Online Jewellery Business?

By Maria Hickey on September 27th, 2023

If you’re looking to start an online jewellery business from home, insurance should be high on your checklist of must-haves. Protecting your business, products and reputation is crucial, even if you’re operating on a small scale. 

With specialist jewellery shop insurance, you can cover everything from your precious metals and gemstones to compensation claims and e-commerce issues.

Do I Need Insurance to Sell Jewellery Online?

When it comes to protecting your online jewellery business, it’s important to have the right small business insurance in place. Jewellery is often expensive and of high value, so adequate insurance protection will help protect both you and your customers should something go wrong. 

Business insurance can also provide peace of mind that any losses incurred by theft or damage are covered, helping to protect your business’s financial security. Additionally, if you are looking to secure additional funding from lenders or investors, having the right insurance in place can help demonstrate that you are a responsible and reputable home-based business.

Protecting Your Business

As a jewellery business owner, there are certain liabilities and risks you need to cover through insurance:

  • Public Liability Insurance: This covers compensation claims from third parties, for example if a customer was injured by a faulty product. It protects your business in the event of legal action.
  • Employers’ Liability Insurance: If you plan to hire any staff such as assistants, this insurance will cover compensation claims from employees who are injured or fall ill at work.
  • E-Commerce Insurance: For online businesses, this covers issues like data breaches, cyber attacks and electronic transaction disputes. It gives protection for your website, payment systems and customer data storage.
  • Professional Indemnity Insurance: This covers any compensation claims for professional advice you have given that has caused a financial loss or damage to another person or business.
  • Business Interruption Insurance: If an accident or disaster interrupts your ability to do home-based business, this insurance covers any losses that you suffer as a result.
  • Stock insurance: If you keep stock at home, then this insurance will protect it against fire, theft and other damage.

Protecting Your Reputation

Negative reviews or mistakes can seriously damage your jewellery brand’s reputation, but  insurance can help minimise risks. For example, reputation insurance  can help cover the costs of legal action if a customer makes an unfounded claim that harms your business. 

It can also cover an error or mistake made in  your advertising, like a misleading statement about the quality of your products, or a false promise.

Get Online Jewellery Shop Insurance from Brisco

Insuring your online jewellery business thoroughly gives peace of mind that your livelihood is protected. At Brisco, we offer specialist jewellery shop insurance to suit home-based e-commerce businesses. 

With stock cover for your precious jewellery materials, you can ensure your valuables are protected while on your premises. Our jewellery shop insurance also covers you for risks like cyber attacks and data breaches to help keep your business secure.

Our team can advise on the right insurance package to meet your home-based business needs. For a quote, get in touch with Brisco today.

Maria Hickey

For more than 20 years, Maria has worked in the insurance sector and has extensive underwriting and customer service expertise. Maria is an experienced Senior Underwriter with a particular specialism for shop, office and surgery related insurance.

All articles by Maria Hickey

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