Must-Know Facts About Insuring Your Precious Metals

Making an investment in physical gold and silver is easy. Insuring these new valuables stored at home is more difficult. It may be outright impossible in larger amounts.

The standard homeowner’s insurance policy provides little, if any, coverage for precious metal coins, rounds, and bars. The limit for many policies is well less than would be needed to even replace a single ounce of gold.

More substantial coverage is available, but it requires additional specialty insurance known as a rider or floater.

Or it comes in the form of a separate “personal articles” policy. The insured may also need to have the valuables professionally appraised.

Investors with significant precious metals stored at home will be well served to compare prices and options with different insurers. An independent insurance broker should be able to offer coverage from multiple firms.