Insurance Cover: To remove the worries of the customers, the insurance company provides the facility of insurance cover on expensive jewelry. In such a situation, in case of theft of jewelry, you get full cover.
Insurance Cover of Jewellery: Gold Investment is considered the most preferred and safe investment. Even today a large number of people prefer to invest in Gold Jewellery. After buying gold jewellery, people also have to pay rent for a bank locker to keep it safe.
Even after paying the locker rent, banks do not guarantee 100% safety of our belongings. Many times, in case of theft in the bank, the bank does not give the amount equivalent to the lost jewelry because the bank says that they are not aware of the goods kept in the locker of the bank. In such a situation, to protect your jewelry, you can take an insurance cover on it.
Insurance of jewelry
To remove such worries of customers, insurance companies provide insurance cover on expensive jewelry. In such a situation, in case of theft of jewelry, you get its full cover. There are 2 types of policies you can buy to get insurance cover on jewellery. The first is a home insurance policy and the second is a stand-alone jewelry policy.
As it is known from the name of the home insurance policy that the gold jewelery insurance cover is given in it. If there is a theft or robbery in your house, then the policy holder gets the insurance cover of all the ornaments. On the other hand, through a stand-alone jewelry policy, you can get insurance cover on jewelry from home to bank locker.
Will have to pay this much premium
If you want to provide security to your jewelry from home to the bank, then you can buy a standalone jewelry insurance policy. Now the biggest question is that how much money you will have to deposit as premium for this policy. To get insurance of Rs 10 lakh in a standalone jewelery insurance policy, you will have to pay a premium of Rs 1,000 every month and Rs 12,000 annually. If your jewelry gets stolen after buying this policy, you will get a full claim for it.
It is important to do market valuation of jewelry
Before buying an insurance policy, first you must keep one thing in mind that your jewelry company should put a low market valuation (Market Valuation of Gold). Many times the insurance company charges less for the jewellery. In such a situation, when the time comes to make a policy claim, the customer does not get the correct value of the jewelry. In such a situation, try to do the correct market valuation of the jewelry at the time of taking the standalone jewelry insurance policy.
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