Have thieves stolen the gold jewelry from your neck? Or have you lost all your gold jewelry due to theft in your home? Don’t worry. The jewelry shop owners where you purchased the jewelry will reimburse you.
They will refund an amount equal to the value of the lost jewelry. You may be surprised, but this is true. Find out more now.
It is not an exaggeration to say that nearly all Indian women love gold jewelry. India ranks as one of the top countries in the world for gold jewelry consumption.
Gold jewelry is most often purchased during weddings, festivals, and other special occasions, as it is considered a symbol of wealth and tradition.
Following India, China is another country known for its high consumption of gold. In China, gold symbolizes wealth and peace of mind and is frequently used during weddings and celebrations. The United Arab Emirates, particularly Dubai, is well-known for its gold jewelry trade.
India imports about 800 to 900 tons of gold annually from other countries. The sale of gold jewelry peaks during festivals and wedding seasons, with approximately 600 to 700 tons sold in the market each year.
In a country where such a significant business is conducted around gold jewelry, thefts are unfortunately common. Some young people are becoming involved in activities like chain snatching.
These individuals, often under the influence of drugs, commit thefts without thinking of the consequences. Accidents can also occur during chain snatching, resulting in women falling and injuring themselves when their gold jewelry is forcibly taken. In severe cases, it can even lead to loss of life.
Thieves do not spare gold jewelry kept in homes, often targeting locked houses. However, if your gold jewelry is lost during a theft, the owners of the jewelry shops will pay for it.
Getting insurance for the gold jewelry you purchase is essential to benefit from this. You may be wondering if gold jewelry can be insured. Yes, it can. However, many people are unaware of this.
This insurance covers stolen gold jewelry and losses due to natural disasters like floods, cyclones, and tsunamis. However, this insurance may not be available at every jewelry shop.
Larger and more well-known stores like Lalita Jewelry and Tanishq typically offer it. Before purchasing gold jewelry, check whether the shop provides insurance and consider taking it.
If your gold jewelry is stolen or lost, you should immediately file a police report. The police will conduct an inquiry and provide you with a letter stating that the jewelry is lost.
Present this letter to the jewelry shop where you made the purchase. The owners will refund the value of your lost jewelry according to the insurance terms. Use this insurance option when buying jewelry.