Bullion Pricing, Delivery and Storage
Is bullion delivery insured?
The short answer
Bullion deliveries are normally insured in transit, but the cover depends on the courier's or insurer's policy, the limit per consignment, the conditions attached and the point at which responsibility passes to you. Cover generally ends when the parcel is handed over at the nominated address. Ask Knox how a specific delivery is insured, and up to what value, before you choose delivery over collection or storage.
What transit insurance is
Transit insurance covers loss of, or damage to, goods while they are being transported. For bullion it is usually arranged by the dealer or its courier rather than by the buyer, and it applies from dispatch until delivery under the terms of the policy. It is separate from any insurance on a safe deposit box and from your household contents policy.
The limits and conditions that matter
- Limit per consignment: the maximum value insured in a single parcel or shipment.
- Conditions: packaging, sealing, signature and identity checks that must be followed for cover to apply.
- Exclusions: circumstances the policy does not cover, set out in the policy wording.
- End of cover: the moment the policy stops responding, normally on handover at the delivery address.
An order worth more than the consignment limit may need to be split or collected instead.
How Knox's terms apply
How a Knox delivery is insured, and when responsibility passes from Knox to you, depends on Knox's delivery terms and the cover arranged with its courier. Knox remains responsible for your purchase until it is handed over to you, either by the courier on delivery or at the facility on collection. Liability transfers to you at that handover. The delivery charge may include the cost of transit cover; Knox confirms the total before the order is finalised.
Protecting yourself after delivery
Once a parcel has been handed over, transit cover generally no longer applies and the item becomes your responsibility. Check the parcel on arrival and report any visible damage or tampering promptly, following the delivery terms. Then decide how the bullion will be kept. Household policies may limit cover for precious metals at home, so ask your insurer, or consider storage at Knox under a separate arrangement.
How Knox handles this
Ready for the next step?
Speak to the Knox team about your situation. They will confirm current pricing, availability and requirements before you decide.
