Liga Asuransi – Dear readers, how are you? Hope your business is doing well.
This time we will be discussing the risks of the transportation of gold, jewelry, and precious stones.
As you might be aware Gold, jewelry, and precious stones are the most stolen items, with or without a move. Add the chaos that comes with packing boxes, hiring movers, and loading the moving truck and it’s the perfect recipe for gold, jewelry, and precious stones loss, damage, and theft.
There are so many things to consider when moving. Unfortunately, what many people tend to overlook in their preparation is how to best take care of their special valuables and gold, jewelry, and precious stones.
As an insurance broker, we want to make sure your gold, jewelry, and precious stones are safe during a move. Below we would share tips on how to best pack gold, jewelry, and precious stones when moving.
- Account for your items. Take pictures of each piece and make a detailed list of the description including the serial number if there is one. Make two copies; one to carry with you and store the other in a separate safe location, such as a safety deposit box.
- Be careful with packing earrings, necklaces, and bracelets. Pack gold, jewelry, and precious stones items in separate compartments to avoid tangling and scratches.
- Get your items re-evaluated or reappraised to determine their current values and replacement costs.
- Never put your gold, jewelry, and precious stones in storage. Too often it gets lost with other belongings or worse, stolen.
- Remove gold, jewelry, and precious stones when you’re doing the heavy lifting to prevent such damages as bent and scratched bands or chipped stones.
- The first tip is always to keep valuable gold, jewelry, and precious stones with you when moving, not in a moving box left with movers. If you’re moving locally, keep your items in a safety deposit box at a local bank.
- Then have your insurance coverage adjusted accordingly. Copy the appraisals and receipts and keep one set with your personal documentation and another in a safety deposit box.
Make sure your gold, jewelry, and precious stones are properly insured. When it comes to your homeowners or rental policy, gold, jewelry, and precious stones typically is insured only limited.
Plus, these policies often do not cover mysterious disappearance – the most reported cause of gold, jewelry, and precious stones loss.
Once your gold, jewelry, and precious stones is all packed, there are a few different ways it can be safely moved to your new residence or destination.
How to Transport Expensive Gold, jewelry, and precious stones:
- Do It Yourself
If you have only a few items to move, consider wearing the more valuable pieces.
Smaller or less valuable items in a zipped compartment on the inside of a piece of clothing and wear that for transport. This dual method avoids attracting attention from visibly wearing layers of gold, jewelry, and precious stones!
If you have a larger collection, pack your gold, jewelry, and precious stones properly and transport the box yourself.
- Use an Armored Courier Service
You can drop your packaged gold, jewelry, and precious stones off at the distribution center nearest you and they will store, insure and ship it to you.
You can either have the package delivered right to your new home or to a local distribution center for you to pick up.
- Ship via Registered Mail
Shipping your gold, jewelry, and precious stones to your new address via registered mail is also an option. When doing so, we suggest the following safeguards:
- Send Your Gold, jewelry, and precious stones to a Jeweler
You can choose to send your collection to a trusted local jeweler, who can hold it for you until you arrive. You’ll have peace of mind knowing the security measures they use to protect their inventory are in effect for your gold, jewelry, and precious stones as well.
How much do you know about your employees?
Today, internal workers are responsible for most of the theft, a crime which, according to industry across the globe, leads to a drop in production and a huge dip in shares.
Identifying the risk
Jewels, gems, and precious metals have tempted thieves ever since extraction first began, and as prices rise year after year, gold, silver, platinum, and diamonds have only become more alluring, especially to those in close contact with them.
A potential sale or purchase of goods does not appear to be normal business practice, has a valid commercial reason, or makes no economic sense.
This could be the goods, the delivery method, or payment arrangements that are not consistent with the normal practice for the type of business concerned.
Criminals take advantage of unwitting legitimate businesses.
Talking to your customers about the reason they need to pay you in cash will determine whether there is a legitimate reason for this.
The customer asks for the goods to be delivered in an unusual manner or to an address that is not their own.
There may be a genuine reason for this, but it is important to ask questions to decide if the transaction should go ahead and/or a SAR filed.
A customer travels a long distance just to purchase goods when the goods are readily available near their home location.
Why would your customer do this, it does not make commercial sense. If the goods you sell are unique and not readily available elsewhere, this would make business sense.
How to get the best insurance coverage for transportation of your gold, jewelry, and precious stones?
As you can see from the above where transportation of gold, jewelry, and precious stones is kind of high risk. And therefore, you need to get proper insurance coverage to protect your valuable assets.
Not many insurance companies are interested to cover the transportation of gold because of its high risk.
In Indonesia now there is a new approach to the transportation of gold, jewelry, and precious stones.
This is a combination between High-Tech Security Bags, Risk Intelligence + Technology Platform, and Embedded Transit Insurance called JAGUAR.
Compared to traditional insurance, JAGUAR can save costs up to 40%.
For more information about JAGUAR, please contact L&G Insurance Broker now!
Sources:
- https://www.jewelersmutual.com/the-gold, jewelry and precious stones -box/7-rules-how-to-pack-gold, jewelry and precious stones -move
- https://www.mining-technology.com/analysis/feature115452/
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website: lngrisk.co.id
E-mail: customer.support@lngrisk.co.id
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