For more on this part of the insurance industry:
Money bullion insurance protects people and businesses that own physical gold, silver, platinum or other precious metals, usually in the form of bars or coins.
Who needs this insurance:
With UK households holding over £13 billion in gold, securing these high-value items has become an essential part of both personal and commercial insurance planning.
If a van carrying gold bars from London to Birmingham were robbed, the loss could be massive. The bullion, worth over £2 million, would be gone with no chance of recovery.
With bullion transport insurance, the investors could claim back the full insured value. Even in secure vaults, insurance shields against damage, theft or storage-related failures.
Investors now use secure vaults like Loomis and Brinks which increases demand for bullion storage insurance. Online dealers make gold and silver easier to buy as well, which grows the need for simple, flexible protection.
Allocated storage services require insured bullion storage and more accurate and personalised insurance cover. Along with these changes are emerging risks, including:
home storage threats: storing bullion at home without alarms increases uninsured loss exposure
bank vault gaps: many assume safe deposit boxes include money bullion insurance, but they don’t
poor sale records: undocumented cash sales complicate claims and bullion value appraisal later
Brokers should watch for clients using couriers or bundling bullion with other collectables. These cases often lead to underinsurance or disputes during claims.
Advising on full disclosure and clear item lists helps avoid gaps in cover. Clear policy wording is key in offering strong financial asset protection.
Most policies are built to match how and where the bullion is stored or moved. Cover can be arranged through specialist precious metals insurance for individuals, dealers or vault providers managing physical metal.
Some of the most used coverage options include:
Many brokers now offer tailored plans, including high-value asset insurance, for professional and private holdings.
Picking the right options depends on how the bullion is stored and moved, and whether theft protection is required.
Are gold coins considered bullion?
Yes, if they meet certain legal and purity standards. According to HMRC, these coins must:
They’re widely used for gold investment security and may be VAT-exempt in the UK.
Yes, people in the UK can store gold bars at home if they choose. But keeping bullion at home comes with hazards like theft, fire or damage. To stay protected, it's a good idea to get money bullion insurance made for precious metals.
Most home insurance policies in the UK only cover valuables up to a certain amount. Some limit payouts to around £3,000 unless the item is listed separately.
Also, insurers may ask for proof that the bullion is stored in a secure safe.
Gold held privately in the UK does not need to be declared to HMRC. But if someone sells gold and makes a profit, they may need to pay capital gains tax (CGT).
UK-minted coins like Sovereigns and Britannias are exempt from CGT, which makes them a tax-efficient choice for investors.
Gold bullion is counted as part of a person's estate and may be subject to inheritance tax (IHT). The standard IHT rate is 40% on estates over the £325,000 threshold.
Gold gifts made more than seven years before death may be exempt under the seven-year rule.
Gold bars can sometimes be traced using serial numbers and stamps from the original refiner. These marks help prove where the gold came from and if it is real.
If the bar is melted or damaged, it becomes much harder to trace or recover. Fortunately, some firms are testing tracking tools for gold and silver insurance
For better theft cover, many brokers now recommend adding money bullion insurance to safeguard against loss.
