New Zealand Gold Prospecting & Metal Detecting Forums Archive

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Availability of insurance

kaka		Posted : Tuesday, 11 June 2013 3:01:45 PM(UTC)
Rank: Gold Flake Groups: Registered Joined: 6/10/2011(UTC) Posts: 17 Location: New Zealand Thanks: 7 times		My insurance company (State) will not insure gold nuggets or coins-does anyone know a company that will?

gingerbreadman		Posted : Tuesday, 11 June 2013 3:17:08 PM(UTC)
Rank: Gold Ingot Groups: Registered Joined: 19/07/2010(UTC) Posts: 473 Location: south of the black stump Thanks: 34 times Was thanked: 96 time(s) in 74 post(s)		They (state) and most other insurance companys don't insure dredges eather well not when they are off the property anyway... I spat it with state a couple of years ago over it as I have all my insurance through them so figerd they should cover my dredge but they refused to budge ...seems stupid they don't insure gold or coins if they can cover a gold ring why the f@#k not a nugget or coin...maybe it has something to do with say the gold price going up or down ? would your nuggets not be coverd by house and contents ? Edited by user Tuesday, 11 June 2013 3:18:24 PM(UTC) \| Reason: Not specified

Lammerlaw		Posted : Tuesday, 11 June 2013 3:25:54 PM(UTC)
Rank: Gold Ingot Groups: Registered Joined: 24/05/2011(UTC) Posts: 1,721 Thanks: 72 times Was thanked: 579 time(s) in 396 post(s)		Originally Posted by: kaka My insurance company (State) will not insure gold nuggets or coins-does anyone know a company that will? I have no idea BUT if you had a few really precious nuggets then if they were in the form of Jewelery mounted on a chain or chains or as a broach with a jewelery certificate of valuation then it would surely be another matter.

Shilo		Posted : Tuesday, 11 June 2013 3:35:34 PM(UTC)
Rank: Gold Ingot Medals: Groups: Registered Joined: 29/01/2011(UTC) Posts: 573 Location: Kawhia Thanks: 17 times Was thanked: 285 time(s) in 185 post(s)		AA insurance is the same for contents insurance: Your contents excludes: precious metal or bullion, precious or semi-precious uncut or unset gems But you should be able to approach them and negotiate a deal to cover your gold - either as an addon to your current contents insurance or as a separate policy. Alternatively bury it in your back yard so a detectorist can find it in a hundred years time..... :)
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kiwikeith		Posted : Tuesday, 11 June 2013 4:12:49 PM(UTC)
Rank: Gold Ingot Medals: Groups: Registered Joined: 28/06/2011(UTC) Posts: 648 Location: hector Thanks: 359 times Was thanked: 230 time(s) in 154 post(s)		I have a lot of gold gear none of it is insurable unless I do it through my company "no nugget pest control" then I have to pay 2 arms and a leg now I am armless and just hop around but really its not worth it to expensive you could give your nuggets to me to look after for you I will take good care of them for you yea right

gingerbreadman		Posted : Tuesday, 11 June 2013 4:17:21 PM(UTC)
Rank: Gold Ingot Groups: Registered Joined: 19/07/2010(UTC) Posts: 473 Location: south of the black stump Thanks: 34 times Was thanked: 96 time(s) in 74 post(s)		Originally Posted by: kiwikeith I have a lot of gold gear none of it is insurable unless I do it through my company "no nugget pest control" then I have to pay 2 arms and a leg now I am armless and just hop around but really its not worth it to expensive you could give your nuggets to me to look after for you I will take good care of them for you yea right What do you call a man with no arms and 1 leg who gets into a fight with A possum ? CLAUDE

kaka		Posted : Tuesday, 11 June 2013 5:42:20 PM(UTC)
Rank: Gold Flake Groups: Registered Joined: 6/10/2011(UTC) Posts: 17 Location: New Zealand Thanks: 7 times		Yes it does seem completely stupid-they are happy with rings etc which will not be worn all the time (if that is their reason for including them) Sorry Keith I was going to ask you for some of your nuggets.

gavin		Posted : Tuesday, 11 June 2013 8:27:46 PM(UTC)
Rank: Gold Ingot Groups: Administrators, Registered Joined: 20/02/2010(UTC) Posts: 1,326 Location: Christchurch Thanks: 736 times Was thanked: 535 time(s) in 287 post(s)		I was shopping around for contents insurance a few months back and I do remember one company would cover up to $2000 in bullion as they called my nuggets. I don't have a great deal so didn't go shopping around. And sorry, forgot which company it was. Probably either AA, ASB bank or Kiwi Bank.
		WWW

Hunter		Posted : Wednesday, 12 June 2013 4:36:46 PM(UTC)
Rank: Gold Ingot Groups: Registered Joined: 11/01/2012(UTC) Posts: 122 Location: Auckland Thanks: 22 times Was thanked: 29 time(s) in 19 post(s)		Hide them that’s what I do, so does this mean my sluice is non-insurable ?
		2014 Rings PLT/PLA=0 GOLD=5 STG=18 Junk=4 Other Gold items- 4

East-Auck-Fossicker		Posted : Wednesday, 12 June 2013 6:30:56 PM(UTC)
Rank: Gold Nugget Groups: Registered Joined: 12/06/2011(UTC) Posts: 84 Location: Auckland Thanks: 10 times Was thanked: 21 time(s) in 11 post(s)		The Christchurch rumblings have shown the insurance companies true colours !
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gogold		Posted : Wednesday, 12 June 2013 6:35:39 PM(UTC)
Rank: Gold Ingot Groups: Registered Joined: 5/01/2012(UTC) Posts: 217 Location: gore Thanks: 4 times Was thanked: 56 time(s) in 45 post(s)		Originally Posted by: East-Auck-Fossicker The Christchurch rumblings have shown the insurance companies true colours ! yes but this issue was still a problem before the quakes, they just wont insure precious metals due to high value and ease of fraudulent claims. only way around it is to get nuggets mounted on a ring, valued and listed as specified jewellery on your contents.

allanwiller		Posted : Monday, 15 July 2013 8:49:23 PM(UTC)
Rank: Guest Groups: Guests		Message was deleted by a Moderator. \| Reason: spammer