Precious Metals
Insurance.
Specialist insurance considerations for gold, silver, platinum, palladium and other valuable metal assets across processing, storage, custody, handling and transportation.
Precious metals move through complex commercial environments.
Precious metals can take many forms and move through multiple stages before reaching their final destination. Mining, refining, manufacturing, trading, storage, custody and transportation can each create different risk considerations.
The value of the material, its physical form, concentration, ownership structure, storage arrangements and movement between locations can all be relevant when assessing an insurance risk.
Precious metal assets may take many forms.
Different physical forms, values and stages of processing can create different insurance and underwriting considerations.
Gold
Gold in forms such as bars, ingots, granules, sheets, manufactured products and other commercially held inventories.
Silver
Silver bullion, refined material, industrial forms and other valuable silver assets held during commercial operations.
Platinum
Platinum held as refined material, inventory, industrial material or other eligible commercial assets.
Palladium
Palladium and related valuable metal inventories held during processing, trading, storage or transportation.
Refined Metals
Refined precious metals held after processing and before manufacture, sale, delivery or further commercial use.
Metal Products
Eligible manufactured or semi-finished products containing significant precious-metal value may require individual consideration.
Key areas of precious-metal risk.
The relevant risk profile depends on the metal, physical form, value, location, ownership, custody structure and business activity.
Storage
Physical security, access control, vault arrangements, inventory procedures and concentration of value can all be important considerations.
Custody
Metals may move between owners, refiners, dealers, vaults, financial businesses, manufacturers and specialist custodians.
Handling
Weighing, processing, packaging, loading, unloading and inventory transfers can introduce operational considerations.
Transportation
Movement between mines, refiners, manufacturers, storage facilities, dealers and other locations may require specific transit arrangements.
Valuation
Declared values and valuation methods may need to reflect metal prices, quantities, physical form and the purpose for which the material is held.
Concentration
Significant values held at a single location or transported in one movement may require particular underwriting attention.
From raw material to final destination.
Precious metals can move through several stages before becoming finished products or reaching their final owner. Each stage can introduce different custody and risk-management considerations.
Extraction
Raw material and initial custody.
Refining
Processing and purification.
Manufacturing
Conversion into commercial forms.
Storage
Secure holding and inventory control.
Transit
Movement between locations.
Delivery
Transfer to the intended recipient.
Insurance considerations across the precious-metals supply chain.
Different businesses can encounter different precious-metal risks depending on the assets they handle, their operations and their custody arrangements.
Mining Businesses
Operations involved in the extraction and initial handling of precious-metal-bearing materials.
Refiners
Businesses processing, refining and converting valuable metals into commercially usable forms.
Bullion Dealers
Commercial businesses buying, selling, holding and distributing precious-metal inventories.
Manufacturers
Businesses using precious metals in jewellery, industrial products, components or other manufactured goods.
Storage Providers
Specialist facilities responsible for the secure custody and management of valuable metal inventories.
Financial & Commercial Businesses
Eligible businesses with ownership, custody or commercial interests in significant precious-metal assets.
Clear information can help explain the risk.
Requirements vary by insurer and risk. The following information can help establish the nature, value and movement of precious-metal assets.
Asset & Valuation Information
- Type of precious metal
- Physical form and processing stage
- Quantity and inventory values
- Maximum value held at one location
- Valuation methodology and price basis
- Purchase, sales or inventory records where relevant
Risk & Security Information
- Storage locations and security arrangements
- Access-control procedures
- Inventory reconciliation procedures
- Custody and third-party arrangements
- Transportation methods and security procedures
- Relevant previous loss or claims information
Strong controls support valuable assets.
Insurance can form part of a broader risk-management strategy. Businesses handling precious metals may also use controls designed around access, inventory, custody, security, transportation and documentation.
The appropriate controls depend on the operation, locations, asset values, physical form and applicable requirements.
Examples of Risk Controls
- Restricted access to high-value metal inventories
- Documented custody and transfer procedures
- Regular physical inventory reconciliation
- Appropriate premises security measures
- Documented transportation procedures
- Current valuation and inventory documentation
Explore related insurance solutions.
Precious Metals Insurance FAQs.
What is precious metals insurance?
Precious metals insurance refers to insurance arrangements designed to address specified risks involving valuable metals such as gold, silver, platinum and palladium. Actual coverage depends on the insurer, policy wording, limits, conditions, exclusions and underwriting requirements.
What types of precious metals can potentially be insured?
Depending on the insurer and risk profile, arrangements may consider gold, silver, platinum, palladium and other eligible valuable metal assets in forms such as bullion, refined material, inventory and certain manufactured products.
Can precious metals be insured while in storage?
Storage risks may be considered depending on the location, security arrangements, declared values, custody structure, inventory controls and other underwriting requirements.
Can precious metals be insured during transportation?
Transit risks may be considered based on factors such as the type and value of the material, transportation method, route, custody arrangements, security procedures and applicable policy terms.
How are precious metals valued for insurance purposes?
Valuation methods can vary according to the metal, physical form, quantity, market basis and purpose for which the asset is held. Supporting information may include inventory records, purchase documentation, valuation records and applicable market-price information.
Can a business insure its entire precious-metal inventory?
A business may be able to seek insurance for eligible inventory, subject to underwriting, declared values, policy limits, conditions, security requirements and exclusions. The appropriate structure depends on the individual risk.
Who may require precious metals insurance?
Depending on the insurance arrangement, enquiries may come from mining and refining businesses, bullion dealers, manufacturers, storage providers, logistics businesses, financial organisations and other commercial asset owners or custodians.
Does this page guarantee that my precious metals will be covered?
No. This page provides general information only. Whether a particular asset or risk can be insured depends on the insurer, underwriting assessment, policy wording, limits, conditions, exclusions and applicable jurisdiction.
Discuss Your Precious Metals Risk.
Provide details about your metals, values, storage arrangements, custody structure and transportation requirements so the risk can be considered in context.