Insuring Gold and Jewellery at Home

Gold kept at home is usually under-insured. The standard US homeowners form pays only $200 for bullion, gold and coins and about $1,000–1,500 for stolen jewellery; UK policies typically cap a single valuable at £1,500–2,500 unless you list it; and India's standard home policy and Australia's Suncorp exclude bullion altogether. At today's price one ounce of gold is worth $4,017. The fix is to list (schedule or specify) valuable items with an appraisal, raise the valuables limit, or buy separate cover, and to re-value as the gold price rises.

Facts checked 26 October 2026

Gold, 1 troy ounce

$4,017

International price, live

US standard limit on bullion

$200

Money, bullion, gold and coins (ISO HO-3 form)

UK single-item limit (examples)

£1,500–2,500

Unless the item is listed on the policy

What a standard home policy pays for gold

Country	Jewellery and valuables	Bullion and coins	Listing (scheduling) items
United States	Theft of jewellery and watches capped at about $1,500 on a standard policy ($1,000 in the classic HO-3 form; Travelers quotes $1,500–5,000 per item). Items lost without clear evidence of theft are often not covered.	$200 for "money, bank notes, bullion, gold other than goldware, silver… coins and medals" (HO-3).	A scheduled personal property endorsement or personal articles floater: all-risks cover worldwide, often with no deductible, for jewellery, silverware and coin collections. Usually needs an appraisal.
United Kingdom	Aviva: £10,000 valuables total and £2,500 per item as standard; first direct and HSBC (Aviva): £1,500 per item; Bank of Scotland: precious metals and jewellery capped at 33% of contents cover.	Gold items count as valuables ("items of gold, silver or any other precious metal"). The Royal Mint warns contents insurance "may not cover your bullion portfolio".	Specified items above the single-item limit; insurers usually want a valuation, even with a receipt. Unlisted items over the limit may be paid only up to the limit, or not at all.
Canada	Special limits on jewellery for theft only (National Bank); examples are around $6,000 for jewellery (Intact, RBC).	"Bars of precious metal" and coins not part of a collection have a special limit for all perils (National Bank); RBC lists bullion among limited items.	Items can be scheduled, which removes the sub-limit; most scheduled jewellery is all-risks.
India	Jewellery and valuables are an optional add-on to the standard Bharat Griha Raksha policy, on an agreed-value basis, for an extra premium. Some insurers settle gold at market value less wastage and set a per-item limit.	Excluded: the standard policy excludes "damage to bullion"; jewellery covers also exclude bullion.	Add-on cover with a list of items; cover is often India-only, and bank-locker cover needs a list of what is in the locker.
Australia	Unlisted jewellery limits vary by insurer and policy.	Excluded at Suncorp: "We do not cover… bullion, and ingots (not jewellery) as contents."	Specified items with a valuation. NSW Fair Trading notes valuers don't have to belong to a professional body; some are NCJV registered.

Examples from published policy wordings and regulators (October 2026). Limits differ between insurers and policy levels; check your own schedule. UAE insurers were not reviewed.

How valuables limits work

Most policies have three limits that matter for gold: a total valuables limit (for example £10,000), a single-item limit (often £1,500–2,500 in the UK, around $1,500 for jewellery theft in the US), and a separate, much lower limit for money and bullion ($200 on the standard US form).

If you insure your contents for less than they are worth, policies with an average clause cut claims in proportion: insure £50,000 of contents for £30,000 and a £10,000 claim may pay £6,000. Rising gold prices push people into underinsurance without noticing; Howden notes gold rose 78% in five years.

Listing (scheduling) items

Listing an item on the policy, called scheduling in the US and Canada and specifying in the UK and Australia, insures it for an agreed amount and usually on an all-risks basis: accidental loss (a ring down a drain, a watch left in a hotel) as well as theft. In the US the scheduled cover applies worldwide and the home-policy deductible doesn't apply.

Coins are often only covered if each one is listed: the standard US scheduled-property endorsement pays at most $1,000 for an unlisted coin collection and $250 for any one coin, and excludes the disappearance of individual coins unless each is scheduled. Whether a bar of bullion can be scheduled depends on the insurer.

Appraisals and valuations

Insurers usually want a written appraisal (valuation) for listed items. It should give the replacement value: what it would cost to buy a like-for-like item new in a shop, which is usually higher than what you could sell it for. An appraisal for an estate, a donation or a sale uses fair market value instead.

Who: in the US, Jewelers of America recommends appraisers who belong to a national body (such as NAJA), follow USPAP and hold at least a GIA Graduate Gemologist diploma; in the UK, Age UK points to the Institute of Registered Valuers (regulated by the National Association of Jewellers); in Canada, appraisers with gemmological and valuation qualifications under Canadian Jewellers Association guidelines.
Cost: typically an hourly rate or a flat fee per piece (Jewelers Mutual quotes $50–150 an hour). A fee based on a percentage of the value is considered unethical by US and Canadian trade bodies, because it rewards a higher valuation.
What it should show: weight, metal and purity, stone details, photos, the metal price used, the date and the currency.
How often: NAIC says some policies require periodic appraisals; Travelers suggests at least every five years and UK insurers commonly every two to five years. With gold prices moving fast, re-value sooner. Some UK insurers add 25–50% to the value for three years after a valuation.

Bullion at home

Bars and coins are the hardest thing to insure at home: the standard US limit is $200, bullion is excluded on India's standard policy and at Suncorp in Australia, and UK cover depends on the policy. Options are specialist valuables or bullion cover, listing coins individually, or storing the bullion in a vault with insurance included (see where to store gold).

Insurers set cover by the safe's grade: UK cash ratings are usually multiplied by about ten for jewellery and bullion, so a Grade 1 safe is typically good for about £100,000 of valuables (Howden; insurers differ). Ask about discounts for a safe, an alarm or a bank box (NAIC).

Bank boxes

The bank does not automatically insure what is in a box. Cover comes from a home-policy rider or the box provider's own policy: one independent UK vault includes £10,000 of all-risks cover per box as standard, up to £500,000, and settles gold coins at replacement value. In India, insurers' locker cover requires you to keep a list of the jewellery in the locker and to report a lost key to the police.

Making a claim

Report a theft to the police straight away and get a reference; insurers require it.
Show ownership and value: receipts, valuations, certificates, original boxes and photos. Keep copies away from the items (the cloud or a relative's house).
Expect replacement, not always cash: insurers can replace or repair with an item of like kind and quality, or offer vouchers. The UK Financial Ombudsman has ruled that an insurer could not limit a cash payout to its discounted voucher cost when that wasn't fair.
Know your settlement basis: unlisted items are often paid at actual cash value (after wear) in the US; listed items at the agreed amount or the cost of a substantially identical replacement, whichever is less.

Insuring Gold: FAQ

Does home insurance cover gold bars and coins?

Usually only a little. The standard US homeowners form (HO-3) pays $200 for money, bullion, gold and coins combined. India's standard home policy and Suncorp in Australia exclude bullion. In the UK gold items count as valuables, subject to the single-item limit, but the Royal Mint warns contents insurance may not cover a bullion portfolio. Ask your insurer about listing coins or specialist cover.

How much jewellery does home insurance cover?

In the US, theft of jewellery is typically capped at about $1,500 unless items are scheduled. UK policies often cover £10,000–20,000 of valuables in total with a single-item limit of £1,500–2,500. Canadian examples are around $6,000. Anything above the limit needs listing on the policy.

What is a jewellery floater or scheduled item?

A floater (US) or specified item (UK, Australia) lists a piece on the policy for an agreed value. It usually covers loss as well as theft, applies worldwide, and in the US the home-policy deductible doesn't apply. Insurers normally need an appraisal.

How much does a jewellery appraisal cost?

Usually an hourly rate or a flat fee per piece; Jewelers Mutual quotes $50–150 an hour in the US. Avoid appraisers who charge a percentage of the value: US and Canadian trade bodies consider it unethical.

How often should gold jewellery be re-valued for insurance?

Commonly every two to five years, and sooner when the gold price has risen a lot, so the insured amount keeps up with the replacement cost.

Is gold in a bank locker insured?

Not by the bank. Cover comes from a rider on your home policy, a locker or jewellery policy, or the box provider's own insurance. In India, banks' liability for lockers is capped at 100 times the annual rent and banks may not sell insurance on locker contents.

Sources (31)

General information, checked October 2026. Rules, limits and terms change; check with the provider, insurer or authority before you rely on them. Not financial, legal or tax advice.