What are the insurance provisions for physical gold withdrawals at Pluang?
When you withdraw physical gold from Pluang, the shipment is insured and you can claim up to Rp500,000,000 for loss, damage, or delivery errors that occur during the physical gold delivery process. If the value of the gold you are claiming exceeds Rp500,000,000, the payout is capped at Rp500,000,000 — the excess is not compensated. Compensation covers only the gram value of the gold withdrawn; the withdrawal (printing) fee, shipping fee, and insurance fee you paid are not reimbursed. This shipping insurance is charged at 3% of the value of the gold being withdrawn and is separate from the storage insurance that already covers your gold while it sits in the depository at no cost to you.
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 — payout is capped |
| The withdrawal / printing fee you paid | ❌ No |
| The shipping fee you paid | ❌ No |
| The 3% insurance fee you paid | ❌ No |
Two different insurances — don't confuse them:
- Storage insurance. While your gold sits in the depository, it is fully insured by Brink's, who owns the depository and is appointed by Indonesia Clearing House (ICH) and PT ICDX Logistik Berikat (ILB). This costs you nothing and applies for as long as you hold gold in the app.
- Delivery insurance. This applies only from the moment you request a physical withdrawal and the gold is shipped to you. It costs 3% of the gold value being withdrawn and is capped at Rp500,000,000 per claim.
How the cap works in practice: if you withdraw gold worth Rp750,000,000 and the shipment is lost, your maximum payout is Rp500,000,000, not Rp750,000,000. If you are withdrawing a high value, consider splitting it across more than one withdrawal so each shipment stays within the covered amount.
Related questions:
Q: How much does the physical gold withdrawal insurance cost?
The insurance fee is 3% of the value of the gold grams being withdrawn. It is charged as part of the physical withdrawal and is converted into gold grams, which are deducted from your gold balance along with the printing and shipping fees. This fee is separate from — and additional to — the printing cost of the gold pieces themselves.
Q: Is my gold insured while it is just sitting in my Pluang account?
Yes, and at no cost to you. Gold held in your Pluang balance is stored in a depository owned by PT Brinks Solutions Indonesia (Brink's) and fully insured by Brink's. The 3% insurance fee applies only when you take physical delivery — it covers the shipping leg, not the storage.
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 claimed for is worth more than Rp500,000,000, you will receive Rp500,000,000 and the remainder is not compensated. The compensation is calculated on the gram value of the gold withdrawn only.
Q: Will I get my shipping and printing fees back if my gold is lost?
No. Compensation is calculated only on the number of grams of gold withdrawn. The withdrawal fee, the shipping fee, and the insurance fee you paid are excluded from the claim and are not refunded, even if the claim is approved in full.