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Jewelry distributors offer fine and/or costume jewelry to retailers, including rings, bracelets, necklaces, brooches, earrings and watches. Metal flatware, silverware, clocks and other objects made out of precious metals may be included. They may specialize in fine jewelry, which consists of precious materials, or costume jewelry, which is created from inexpensive materials. Many pieces of fine jewelry feature precious or semi-precious stones. Distributors may even specialize in one type of stone, such as diamonds.

General Liability Insurance for Jewelry Distributors – Liability concerns are minimal for jewelry distributors unless customers are allowed on site. If customers are permitted, they should have limited access to the premises. Hazards for injury should be reduced in shipping and receiving areas. Loading areas should be free of defects and uneven surfaces and changes in height should be well marked with yellow paint. Loading areas present a slip/trip/fall exposure for supplier drivers making deliveries. As a result, a waiting area for delivery drivers should be provided. Advertising liability risks include false advertisements by the manufacturer, such as incorrect labeling of gold karats.

Workers’ Compensation Insurance for Jewelry Distributors – Training programs should be implemented to ensure employee safety when lifting, loading, unloading, or delivering jewelry items. All warehouse workers should be trained on safe merchandise stacking practices to prevent toppling injuries. If any tools or equipment are used in a jewelry distribution warehouse, additional training should be enforced for correct operating procedures. Conveyances such as hand trucks, dollies, and roller conveyor units should be used whenever possible in order to prevent employee injury. Delivery drivers and/or salesmen have a potential to be robbed as a result of the value of the jewelry sold. Drivers should be trained how to react to these situations in order to prevent injury.

Business Auto Insurance for Jewelry Distributors – Non-owned vehicles may be used by officers or the sales force of the jewelry distribution center for business travel such as sales calls, running errands, and attending trade shows and conventions. When employees use their own vehicles for business travel, they should be required to carry a Personal Auto policy with minimum Auto Liability limits of at least $300,000 combined single limits. Routine MVR checks must also be performed. Peak seasons may increase drivers’ stress levels and result in careless driving. Company vehicles must be maintained and in working order at all times. Documentation is required for all repairs.

Property Insurance for Jewelry Distributors – Theft is a major concern for jewelry distributors, but coverage is limited unless a Jewelers Block policy is in place. If precious metals and valuable gemstones are sold, then theft risks are very high. The property must be secured with protective devices including security systems, alarms, guards, fences, etc. A close inventory count should be maintained of all loose gemstones. It is critical that off premises copies are maintained for all customer files and incoming and outgoing shipping records. The best way to do this is through electronic imaging. In addition, off premises computer backups should be maintained on a daily basis for software and data on all computer servers. Jewelry made of metal may be melted or warped if a fire occurs. Gemstones are not likely to be destroyed during a fire. Fire suppression systems should always be used to help reduce damage in the event of a fire. Vehicles should also be equipped with alarms to help prevent robbery.

Crime Insurance for Jewelry Distributors – All employees should be required to fill out detailed applications and should undergo complete background checks and reference checks prior to being hired in order to help reduce the risk of employee theft. Employees may attempt to steal jewelry due to the small size and high value of the items. Random drug tests should be implemented after employment. Jewelry distribution warehouses must be monitored with cameras and inventory must be firmly controlled.