Gold Insurance Cover- Jewelry snatching incidents are common in India. This can happen to anyone anywhere. What should be done if it happens? Should gold worth Rs. 1.5-2 lakhs be let go just like that? No. Today we are giving you such information, which will not cause you any loss even if the gold bought with your hard-earned money is stolen. This information is useful for everyone.
Actually, whenever you buy gold, you also get an insurance with it. Absolutely free. But most people do not know about it. They do not take insurance, and keep regretting in case of gold getting lost. If you have that insurance, then the company from which you have bought the gold will return your money to you. Yes, this is absolutely correct. If you have bought gold from a big jeweler such as Kalyan Jewelers, Senko Gold and Diamond, Malabar Gold, then you will definitely get insurance. Chairman of Kuncha Mahajani Delhi, Yogesh Singhal says that along with big jewelers, many small jewelers have also started offering gold insurance so that customers remain.
Why will the company bear the loss?
If you think that why will the company bear the loss caused by you, then you are thinking wrong. Actually, when big jewelers buy gold, they take a group insurance policy to keep the purchased gold safe, which is for one year. This policy covers losses due to fire and arson, natural calamities such as earthquakes, floods, etc. The insurance cover also covers losses due to incidents such as riots, strikes, snatching, robbery, dacoity, or burglary. Accidents, terrorism, and losses during transit in India are also covered under this policy.
Can you renew the policy?
The free insurance provided by jewellers is usually for 1 year. Different jewellers may have different rules for this. Some people wonder if this policy can be renewed. So let us tell you that some jewellers provide this facility and some do not. That means you can get it renewed. However, you will have to pay a separate charge for this.