Gold Insurance- Gold, which is not only a precious metal but also an integral part of our culture and emotions, worries everyone about its safety after buying it. What if it gets stolen or lost somewhere? This fear can now be a thing of the past. Just like you secure yourself from future mishaps by insuring your car, bike or other valuables, you can now secure your gold as well. Let us know in detail what gold insurance is, how it works, and what are its benefits.
A reliable way to protect your gold
Gold Jewellery Insurance : Buying gold is a special experience for every Indian family. Last month, the price of gold set a new record and reached Rs 1 lakh per 10 grams. Due to its constant increase in price and excellent returns, it has become a popular and reliable investment option. But in India, gold is not just an investment instrument; it is deeply connected to our traditions, culture and emotions.
Whether it is a wedding occasion, a festival, or a special celebration, buying gold is considered auspicious. Despite the huge surge in prices, people prefer to invest in gold on these special occasions. But after buying gold, there is always a fear in the mind about its safety. What if this precious metal gets stolen or lost somewhere? In such a situation, gold insurance can prove to be a boon for you.
What is gold insurance and how does it work?
Gold theft insurance : Just like we get our car, bike, home, or health insured, similarly gold can also be insured. Gold insurance is a policy that protects your gold from unpleasant incidents like theft, damage, or loss. This insurance gives you peace of mind so that you do not have to worry again and again about the safety of your gold.
Gold insurance is available in many ways. Some jewellery companies or brands themselves provide this facility, while many other insurance companies also offer such policies. If you are buying gold from the jeweler from whom you have purchased earlier, then you can get information about gold insurance from them. However, for this you will have to pay a separate premium amount.
Moreover, even if you take this policy from any other insurance company, you will have to pay a fixed premium amount. This premium depends on the value of your gold, its quantity, and the terms of the policy. In this way, gold insurance is an easy and effective way to keep your gold safe.
Why is it Important?
Protection against theft and loss: Gold insurance protects your gold from theft, robbery, or any other kind of loss. If your gold is stolen or lost, the insurance company compensates you for its value.
Peace of mind: There is no need to worry again and again about your precious gold. With insurance, you can focus on your daily life without any worries.
Financial security: The price of gold is constantly increasing. In such a situation, if your gold is lost, it can be difficult to replace it. Gold insurance protects you from this financial loss.
Customised policies: Many insurance companies offer policies that can be customised to suit your needs. You can choose a policy based on the value and type of your jewellery.
How to claim gold insurance?
How to insure gold in India : The benefit of gold insurance is available only when you can claim it correctly when needed. Some important steps and documents are required for this:
Proof of Bill is Mandatory: Whenever you buy gold, always ensure to get a proof of bill. This bill is the most important document in your claim process. The bill should mention the quantity of gold, price, and date of purchase.
Photos of jewellery: Photos of gold jewellery work as proof. After purchasing, take good quality photos of your jewellery and keep them safe.
Police report: If your gold is stolen, immediately file an FIR at the nearest police station. This report is necessary for the claim process.
Verification process: The insurance company will verify your documents and claim. You will receive the claim amount only after the verification is complete.