How Does Pluang Physical Gold Delivery Insurance Work?
Pluang physical gold delivery insurance covers your gold while it is being shipped to you: if it is lost, damaged or affected by an error in the delivery process, you can claim up to Rp500,000,000. The insurance fee is 3% of the value of the gold you withdraw. Like the printing and shipping fees, it is converted to grams at the current sell price and deducted from your gold balance, and the review screen shows the final amount before you pay. A claim compensates only the gram value of the gold withdrawn: the fees you paid are not refunded, and any value above Rp500,000,000 is not compensated. This delivery insurance is separate from the storage protection your gold already has in the depository, where it is fully insured by Brink's. You start a withdrawal from Portfolio → Assets → Gold → vault icon → "Redeem"; see the guide "How to Withdraw Physical Gold on Pluang".
What the delivery insurance covers
| Item | Covered? |
|---|---|
| Gold lost in transit | Yes, up to Rp500,000,000 |
| Gold damaged in transit | Yes, up to Rp500,000,000 |
| Errors in the delivery process | Yes, up to Rp500,000,000 |
| Value above Rp500,000,000 | No, the payout is capped |
| The printing fee you paid | No |
| The shipping fee you paid | No |
| The 3% insurance fee you paid | No |
Two different protections, not to be confused
- Storage. While your gold sits in the depository, it is stored and fully insured by Brink's, which owns the depository and is appointed by Indonesia Clearing House (ICH) and PT ICDX Logistik Berikat (ILB). This applies for as long as you hold gold in the app.
- Delivery. This applies only once you request a physical withdrawal and the gold is shipped to you. It costs 3% of the value of the gold withdrawn and is capped at Rp500,000,000 per claim.
How the cap works. If you withdraw gold worth Rp750,000,000 and the shipment is lost, the most you can receive is Rp500,000,000, not Rp750,000,000. The figures in this example are illustrative.
How the fee is charged. The 3% is calculated on the value of the gold you withdraw, converted to grams at the current sell price and deducted from your gold balance together with the bar, the printing fee and the shipping fee, so your balance must cover all of them. If the withdrawal is cancelled, no fee is charged and your grams are returned in full.
Related questions:
Q: How much does physical gold delivery insurance cost?
The insurance fee is 3% of the value of the gold you withdraw. It is charged as part of the physical withdrawal, converted to grams at the current sell price and deducted from your gold balance together with the printing and shipping fees. It comes on top of the printing fee rather than being part of it, and the review screen shows the final amount in grams before you tap "Pay".
Q: Is my gold insured while it just sits in my Pluang account?
Yes. Gold held in your Pluang balance is stored in a depository owned by PT Brinks Solutions Indonesia (Brink's), which also fully insures it, and it is kept separate from Pluang's own assets. The 3% insurance fee applies only when you take physical delivery: it covers the shipping leg from Jakarta to your address, not the storage of gold that stays in your account.
Q: What is the maximum I can claim if my gold delivery is lost?
Rp500,000,000. This is a hard cap: if the gold you are claiming for is worth more than that, you receive Rp500,000,000 and the rest is not compensated. Compensation is calculated only on the gram value of the gold withdrawn, and the insurance covers loss, damage and errors that happen during the delivery of your physical gold.
Q: Will I get my printing and shipping fees back if my gold is lost?
No. Compensation is calculated only on the number of grams of gold withdrawn. The printing fee, the shipping fee and the 3% insurance fee you paid are excluded from the claim and are not refunded, even if the claim is approved in full. This is different from cancelling a request by email within 5 working days, where no fee is charged and your grams are returned in full.