Has your gold jewelry been stolen? Don't worry! The jewelry store where you purchased it might reimburse you the full value. Find out how.
Indian women love gold jewelry. India is among the top consumers globally. Purchases peak during weddings, festivals, and special occasions, symbolizing wealth and tradition. China, another major consumer, views gold as a symbol of wealth and peace. Dubai and other UAE countries are also renowned for their gold jewelry trade.
India imports 800-900 tons of gold annually, with jewelry sales peaking during festivals and weddings. Around 600-700 tons are sold yearly. Gold theft is also rampant, with chain snatching a growing concern. This often leads to accidents and injuries, sometimes even fatalities.
Home burglaries targeting gold are also common. However, jewelry stores might cover your losses through insurance. Many stores offer this but don't advertise it.
This insurance covers theft and losses due to natural disasters. Popular stores like Lalitha Jewelry and Tanishq might offer this. Check with the store before purchasing as it's their individual policy.
If your jewelry is stolen, file a police complaint immediately. With the police report, contact the jewelry store. They might reimburse you based on their insurance policy. Utilize this insurance benefit when buying jewelry.