Wednesday, November 30, 2022
HomeArticleKeep jewelery in bank locker will not worry! Benefit of insurance...

Keep jewelery in bank locker will not worry! Benefit of insurance cover will be available in case of jewelery theft

Insurance Cover of Jewellery: Gold investment is considered to be the most preferred and safest investment. Even today a large number of people like to invest in gold jewellery. After buying gold jewellery, people also have to pay rent for bank locker to keep it safe.

Even after paying the locker rent, banks do not guarantee to keep our goods 100% safe. Many times, in case of theft in the bank, banks do not give an amount equal to the lost jewelry because the bank says that they are not aware of the goods kept in the bank’s locker. In such a situation, to protect your jewelry, you can take an insurance cover on it.

insurance of jewelery
To address such concerns of the customers, insurance companies offer insurance cover on expensive jewellery. In such a situation, in case of theft of jewelry, you get its full cover. You can buy 2 types of policies to get insurance cover on jewellery. First home insurance policy and second stand-alone jewelery policy.

As the name of the home insurance policy suggests, it provides an insurance cover for the jewelery kept in your house. If there is a theft or dacoity in your house, then the policyholder gets the insurance cover of all the ornaments. On the other hand, through a stand-alone jewelery policy, you can get insurance cover on jewelery from home to bank locker.

have to pay so much premium
If you want to protect your jewelery from home to bank, then you can buy a standalone jewelery insurance policy. Now the biggest question is that for this policy, how much money will you have to deposit as premium. To get an insurance of Rs 10 lakh in a standalone jewelery insurance policy, you will have to pay a premium of Rs 1,000 per month and 12,000 annually. If your jewelry is stolen after purchasing this policy, then you will get the full claim for it.

It is important to do market valuation of jewelery
Before buying an insurance policy, you must keep one thing in mind that your jewelry company should put a low market valuation of gold. Sometimes insurance companies charge a low price for the jewellery. In such a situation, when the time comes to claim the policy, the customer does not get the right value of the jewelry. In such a situation, try to do the correct market valuation of the jewelry itself while taking a standalone jewelery insurance policy.

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