I had Rs. 5 lakh value of Gold Ornaments. Is Gold Ornament Insurance or Keeping In Locker, Which is better?
Ornament golds can be insured under your home insurance policy. (It is also called House Houlder Policy). If you do not have this insurance policy, you will have to take one.
Insurers don't cover jewellery separately. You should get your jewellery valued. The certificate of valuation should be a part of your policy as this will identify your jewellery & will also provide proof of its market value.
Jewellery insurance is a wide cover & it covers your jewellery while it is in the locker, kept in your office, carried as baggage or when it is worn by you. Hence it is better to insure it even if you want to keep it in the locker most of the time. For coverage about Rs. 1 lakh value of Jewellery , one year primium about Rs. 1000 to Rs, 1,500. That is 1 to 1.5% of gold value will be the Insurance primium.
No comments:
Post a Comment