Do In­sur­ance Com­pa­nies Give Locker In­sur­ance?

Consumer Voice - - About Hiring a Locker in a Bank -

In­sur­ance com­pa­nies deal­ing with non-life (gen­eral) in­sur­ance prod­ucts do not cover bank lock­ers for the pur­pose of ex­tend­ing in­sur­ance cover un­der house­hold pack­age poli­cies. How­ever, in case one wishes to have in­sur­ance cover for jew­ellery items and/or cur­rency notes kept in bank locker(s), in­sur­ance cover un­der ‘jew­ellery block in­sur­ance pol­icy’ (as a part of house­hold pack­age pol­icy) is be­ing made avail­able by most of the in­sur­ance com­pa­nies in In­dia. Note that such in­sur­ance cover is only for or­na­ments and other pieces of jew­ellery as well as cash. All this in­volves a lot of pa­per­work and the pro­ce­dure of declar­ing the pur­chase value, year of pur­chase, pur­chase in­voice and weight of jew­ellery/or­na­ments in grams, which is ap­praised by a reg­is­tered/no­ti­fied jewel ap­praiser un­der the in­sur­ance com­pany’s panel (for as­cer­tain­ing the val­u­a­tion of the jew­ellery).

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