You should now consider taking a "Gold Insurance" in India, which protects your gold from theft, burglary, fire and accidental loss...

There are three ways of insuring your gold... and this is becoming all the more popular given gold prices increased by over 70% in 2025...

👉🏻 1/ Home Insurance with a Jewellery Add on: Under this policy, you take a Home Insurance that covers theft, burglary and loss due to fire in your home, and you have to specifically purchase a jewellery add on that costs say 0.1%-0.5% of the value of the jewellery...

So for every Rs 10 lakhs of jewellery, you pay Rs 1000 to Rs 5000 annually...

In a Home Insurance, the value of the jewellery is mostly capped at say 20% of the total policy cover... so if the policy is of say, Rs 50 Lakhs, the coverage for jewellery may be around Rs 10 lakhs

👉🏻 2/ All Risk Policy, or a Standalone Jewellery Insurance: This is a dedicated policy covering only your jewellery and valuables and is separate from a general home insurance...

In this case, for every Rs 10 lakhs of cover, the annual premium is Rs 5,000 to Rs 10,000 - thus anywhere between 0.5% to 1% of the value of the jewellery...

It is more expensive than a Home Insurance with Jewellery Add on, but covers more situations of the gold being stolen, such as through chain snatching even when you're wearing it, and it not being kept at home

👉🏻 3/ A number of large jewellers such as Malabar, Tanishq, Kalyan, sometimes come up with 1 year free insurance on jewellery when you buy from them...

It's a scheme that they often run to attract customers and provide as an add on benefit in competition with each other. So while buying high value jewellery especially for events like weddings, you should ask them if they have such offer, and if you ask, they may even offer it to you at their own cost to close the deal.

👉🏻 The proof and documents required while buying a policy and filing the claim are:

- Photo of the Jewellery

- Jeweller's certificate of value of the jewellery and as per what rate

- Description in terms of weight, metal, carat / karat, style

- Copy of an FIR filed with the police

👉🏻 There are some situations where the loss is not covered by the insurance policy:

- In case you leave your house unattended for more than 30 days

- You leave jewellery in your car and it gets stolen from it

- Loss due to negligence, where you left your jewellery unattended

- Misplacement and can't find it at home where an FIR cannot be registered

👉🏻 A lot of people think gold jewellery is a waste of money because why pay up to 1% of the value of the gold annually... but given how these days, for a number of families, gold has become the most valuable asset in total net worth apart from the house they live in...

And the fact that lockers don't insure it, and that gold's value is expected to rise at 8-12% p.a. over the long term based on historical data...

It makes sense to get an insurance if the value of the gold kept with you is upwards of Rs 20-30 lakhs, which most Indian middle class households have

👉🏻 General Insurance companies like New India Assurance, National Insurance, HDFC Ergo, and Bajaj Allianz provide such gold insurance... while selecting one, look at the cost of the policy with coverage, and also the claim settlement ratio... Ideally, the ratio should be over 90% or in no case less than 85%