Precious Metals Insurance: Protecting Your Gold And Silver
In a world of uncertainty and rising crime, security and the right insurance are critical to protecting valuable assets such as precious metals.
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Valuables Insurance
Cash, Precious Metals and Securities
Medino Insurance offers insurance tailored specifically to clients with special coverage needs for cash, precious metals, securities and other valuables.
COVERAGE
- Risks of physical loss or damage to cash, precious metals, securities and other valuables while in transit or in storage
- Third-party liability for a range of clients from banks and institutions renting safety deposit boxes to contractors managing ATMs
- Face value or reconstruction cost basis
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Global supply chains and transport systems form the backbone of the global economy, fueling trade, consumption and economic growth. Lean and agile processes combined with geographical concentration of production have made transportation networks more intricate. Most significantly, they’ve also changed customer risk profiles.
This calls for risk consulting, training and risk management programs that are tailored to your needs. And this is where our specialized team of transport and logistics experts is at hand to help.
Valuables Shippers
Mining Companies
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Asked Any Question
Some insurance companies make a distinction between the ‘contents’ of your home and the ‘valuables’ in your home. For example, we class valuables as jewellery, watches, furs, items made of gold and other precious materials, works of art and collections (like stamp collections).
Other items, such as audio equipment, computers, bicycles, musical instruments and collectables, like Star Wars action figures for example, can also be valuable. But these items may not be classed as ‘valuables’.
The general rule of thumb is that if the cost of replacing an item exceeds the single item limit shown in your contents insurance, then you should consider it as valuable. You can usually ask the insurer to cover the item separately for an additional cost.
Good question! The value of gold and other precious metals varies greatly. In recent years, the price of gold has gone up considerably. So it’s worth getting your items valued on a regular basis.
A good place to start is the Institute of Registered Valuers, the Tanzania’s leading association of jewellery valuers. They can help you find a registered valuer in your area.
After valuation, you may find the cost of replacing a cherished piece of jewellery may exceed the single item limit. This could leave you out of pocket.
We’ve lost count of the number of newlyweds who’ve lost precious wedding or engagement rings. Most of them were able to claim for a replacement on their home insurance. But beware, not all policies will cover your personal belongings outside of the home.
You’ll probably need to take out additional cover to make sure your valuables are insured when you’re out and about. And you should check if there’s a single item limit on this type of insurance too. With Medino Insurance you can add optional personal belongings insurance for items worth $2,000 or less. Any item worth more than this can be specified on the policy.
Have you invested in gold, bullion, or other precious metals? If so, then it is time to protect your investment with a policy from Medino Insurance
With more and more individuals and businesses turning to precious metals as an investment vehicle or store of wealth, it is important to have the proper coverage in place.
Gold bullion insurance
A gold bullion insurance policy can offer you the protection you need.
We offer a range of products to protect your precious metals and bullion investments. Our policies include insurance against theft, loss, and damage. Moreover, they are designed to meet the needs of the growing market for precious and semi-precious metals.
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