Buy Gold and Get Free Insurance: Here's How It Protects You from Theft, Loss, and Natural Calamities

New Delhi, India — May 5, 2025: In a country where gold jewelry is both cultural heritage and financial investment, theft and snatching incidents can result in significant losses for individuals. However, few are aware that many jewellers in India offer free insurance coverage when you buy gold — a safety net that can protect your investment in case of loss, damage, or robbery.

What Is Free Gold Insurance?

When purchasing gold from reputed jewellers such as Kalyan Jewellers, Senko Gold & Diamonds, and Malabar Gold, buyers often receive a complimentary one-year insurance policy. This gold insurance covers multiple risk factors and is typically included at no extra cost at the time of purchase.

Yet, many customers remain unaware of this benefit and end up bearing the entire financial loss in unfortunate events like theft or accidents.

What Does the Insurance Cover?

According to industry sources and gold traders like Yogesh Singhal, Chairman of Kuncha Mahajani, Delhi, these insurance policies are group policies taken by jewellers. Here’s what is typically covered:

• Theft, snatching, and robbery

• Burglary or dacoity

• Loss or damage during transit

• Fire and accidental loss

• Natural calamities (earthquakes, floods, storms)

• Riots, strikes, and terrorism

This comprehensive insurance ensures that if your gold is lost or damaged under these circumstances, you can claim reimbursement — protecting your ₹1.5–2 lakh investment or more.

How Long Is the Insurance Valid?

• The complimentary policy is valid for 1 year from the date of purchase.

• Coverage terms can vary slightly depending on the jeweller.

• Claims are usually processed through the insurer associated with the jeweller.

Can the Gold Insurance Be Renewed?

Yes, but with conditions:

• Some jewellers allow policy renewal after the free period ends.

• Renewal is not free — a small premium may apply based on the value of gold and coverage.

• It is advisable to inquire at the time of purchase whether the jeweller provides renewal options and what the process involves.

Why Do Jewellers Offer Free Insurance?

Jewellers purchase gold in bulk and take group insurance policies to safeguard their stock. By extending that coverage to customers, they enhance customer loyalty and ensure peace of mind for buyers.

This initiative not only builds trust in the brand but also provides a practical solution to a very real risk — gold theft and loss.

Conclusion:
If you’re buying gold, especially from a leading jewellery brand, always ask about the complimentary insurance policy. This hidden benefit can save you from financial loss and provide much-needed reassurance in case of emergencies. For long-term security, consider renewing the policy annually.