How Insurance Protects Your Gold When Preparing to Sell
How Insurance Protects Your Gold When Preparing to Sell
The budding interest in cash for gold appears popular in this day and age. You mail your unwanted trinkets to your chosen company, they establish its value and you'll receive the money upon agreement. But mailing away your jewellery is always going to feel risky. So how does insurance protect your gold?
The first stage in selling on your unwanted gold is to request a Gold Pack' from your chosen company. This pack is free and will be delivered to you within a few days of you ordering it. Within this pack you will find a bag to contain your jewellery, a Royal Mail Special Delivery envelope and some documentation from the organisation.
You should find that the bag your trinkets will travel in is secure and in some cases padded to ensure they are safe. However, you can take out insurance with the Royal Mail that will cover damage or loss of property during its transportation.
Once you have selected this insurance option, your gold will be covered up to the value of 500. Make sure you keep the receipt from the Royal Mail safe, as this will be refunded by the cash for gold company at the end of the transaction.
If you feel the gold you are sending is worth more than the initial 500, then you can increase the amount. However, this is not likely to be covered by the cash for gold company. So you need to be sure it's necessary, as you'll have to pay for extended insurance yourself.
The cash for gold organisation will also provide you with a tracking number for your envelope. Once you've entered this number online, you will be able to follow your gold's progress as it is being transported.
There is also the possibility of insuring some gold under your homeowners insurance. This can be quite expensive, so perhaps is not necessary for lesser trinkets that you no longer want. Nevertheless, for jewellery you wish to keep in pristine condition before selling this is a potential option.
As most cash for gold companies will provide you with a pre-paid envelope that is covered up to 500, you can rest assured that your jewellery is protected. Extra insurance is available, but at an extra cost to you. Nevertheless, you will always want the peace of mind to know that your gold is being transported safely.
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