There are many companies that provide you jewelery and valuables insurance. You also have the option of taking jewelery insurance along with your home insurance. Apart from this, you can also take jewelery insurance separately.
Bying Gold Insurance Policy: We all take home insurance, health insurance for our financial security, but is the gold kept in your home or your investment in gold insured? Physical gold is one of your safest investments, but it has its own risks, so you should think about it. If you are going to buy gold this Diwali, then you must also take its insurance this time.
There are many companies that provide you jewelery and valuables insurance. You also have the option of taking jewelery insurance along with your home insurance. Apart from this, you can also take jewelery insurance separately.
Under what circumstances coverage is available by taking a separate gold jewelery insurance policy-
- – Coverage will be available in events like natural calamities, such as earthquake, flood, fire.
- – Will get cover in case of loss of jewelery due to theft or burglary.
- Snatching or accidental loss
- – On damage in bank locker
Under what circumstances insurance will not be available
- – If the jewelery is damaged due to use or negligence of the owner, then you will not get any coverage on it.
- – If you sell your insured jewelery or exchange it for another, then you will not get insurance on it.
- – If you have not listed any of your jewelery for insurance at the time of listing the item, then you will not get insurance on it later.
- If your gold is confiscated for any reason, the insurance company will not bear the loss.
What are the benefits of taking a gold jewelery insurance plan?
Keeping gold jewelery at home always comes with a risk. Bank lockers also provide security only to an extent, so insuring your jewelery can be a wise decision.
You can get more offers on insurance plans than keeping it in a bank locker.
By taking insurance cover, you cover many types of risks on jewellery, which you cannot cover by keeping it at home or keeping it in a bank locker.
Apart from this, you are also saved from paying huge bank locker charges.
