Safe keeping of Gold Jewelry

Gold JewelryGolden jewelry are the most important possessions in a person’s life not just for their money value but also because they have social and emotional feelings attached to it. It has great worth in marriages, religious ceremonies. Thus the safe keeping of golden jewelry is of utmost importance. The emergence of jewelry insurance is gradually gaining great importance in the recent years though many people are still unaware of how the gold jewelry is evaluated and the various insurance schemes that are available.

Two of the most important ways of safe keeping the jewelry is to keep them in bank lockers and insurance. No matter what the size of the jewelry is, it is very valuable and thus you must be very cautious with their safe keeping and you should know about the security facilities that are offered in the market.

For insurance there are only a few companies that offer them. Most f the policies that are set includes loss due to burglary, accidental loss, theft or damage. Generally the maximum cover that is provided is 25 percent of the amount that is insured in total. Though there are some policies that provide all risk cover facility as well. It is very essential to go through the policy and scheme related documents carefully.

Bank lockers are also a safe way of keeping gold jewelry. You must be very careful as all banks do not provide lockers. You must go conduct a proper research before opening any savings account in the banks which is connected to the locker facilities. Bank lockers have large amount of space to hold anything and it is a personal property. The rates of the lockers depend from banks to banks depending on their reputation. But the main thing to notice here is that the banks do not take responsibility if the jewelry is damaged.

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