Gold IRA Storage Insurance: What Is and Isn't Covered

Physical gold and silver in an IRA sit in a vault, not in a bank account. That raises a fair question: if something happens to the metal, who pays? This page covers what the FDIC and SIPC say they protect, what some depositories say about their own insurance, and what to ask before you rely on any of it. It is part of our guide to Gold IRA storage. It is general education, not personal advice.

Is a gold IRA FDIC insured?

No, not for the metal. The FDIC is the federal agency that insures bank deposits. Its page says: "FDIC insurance covers deposits in all types of accounts at FDIC-insured banks" and "FDIC deposit insurance covers $250,000 per depositor, per FDIC-insured bank, for each account ownership category" (FDIC).

The same page says FDIC insurance "does not cover non-deposit investment products, even those offered by FDIC-insured banks." Its list of items not covered includes stocks, bonds, mutual funds, annuities and crypto assets. It also lists "Safe deposit boxes or their contents." The page does not mention precious metals by name.

The FDIC's coverage is for deposits. Bars and coins are not deposits. If any uninvested cash in your account sits at a bank, ask the custodian where it is held and whether that bank is FDIC insured. We did not research how the FDIC counts IRA cash deposits, so we are not describing it here.

Does SIPC cover gold in an IRA?

SIPC (the Securities Investor Protection Corporation) protects customers of failed brokerage firms. Its page says "SIPC protects against the loss of cash and securities" and "Most customers of failed brokerage firms are protected when assets are missing from customer accounts" (SIPC).

It also lists what it does not do:

• "SIPC does not protect against the decline in value of your securities."
• "SIPC does not protect commodity futures contracts."
• It does not protect investment contracts such as limited partnerships, or "any digital or crypto asset that does not qualify as a 'security.'"

The page does not mention gold, precious metals or bullion. We therefore cannot say from SIPC's own words whether a given vault holding is covered, and we are not saying it is. SIPC lists a phone number, (202) 371-8300, for questions. Also keep in mind that SIPC concerns a failed brokerage firm. A custodian or depository is not necessarily a brokerage firm, so ask which kind of company holds your account.

What does depository insurance mean?

Because FDIC and SIPC are not a clear fit, the protection the depositories we reviewed describe is a private insurance policy that the depository says it carries. The depository is the company that vaults the metal. A policy can differ in what events it covers, who is named on it, and how much it pays. Three depositories describe their own coverage on their websites. These are company statements, which we did not confirm independently, and we are not recommending or ranking any of them.

• Delaware Depository. Its FAQ page (accessed 2026-10-09) says: "Our policy is through London underwriters and includes all risks of physical loss and/or physical damage," including "mysterious disappearance and/or unexplained loss and shortage, employee dishonesty and theft." It also says the depository "maintains $1 billion in 'all risk' insurance coverage for bullion" and "$100 million in contingent vault coverage." The page also has a sentence that begins "Loss caused by acts of war, terrorism, cyber-attack, radioactive contamination" and goes on. We saw only part of it, so read the full sentence on the depository's site to see how it applies. (Delaware Depository)
• CNT Depository. Its FAQ page (accessed 2026-10-09) says: "CNT Depository carries a comprehensive insurance policy through Lloyd's of London." We found no limits or exclusions on that page. (CNT)
• Texas Bullion Depository. Its IRA storage page (accessed 2026-10-09) says assets "are insured through Lloyd's of London, covering theft, fire, flood, and natural disasters." Its FAQ says account holder assets "are automatically insured through the Lloyd's of London insurance marketplace" and that if you declare a higher market value, such as for a numismatic coin, the asset "is insured at the higher value." (Texas Bullion Depository, FAQ)

Notice what these pages leave out. Delaware's page does not say who is named as the insured, whether the depository, its customers or both. None of the pages we read gives the policy wording or says how a claim would be paid to an IRA owner. A website sentence is not a policy.

What might insurance not cover?

Insurance covers specific events. Even a broad policy may leave things out. Read the exclusions in any policy summary you are given. Things to think about:

• Price changes. Insurance on stored metal is not protection against a lower market price.
• Who gets paid, and how. If a loss happens, is the payout to the depository, the custodian or the account owner? How is value set: at the market price on the day, or something else? Texas's page ties coverage to declared value.
• How the limit is shared. Ask whether a stated limit is per customer, per event or for the whole vault, and how it compares with the total metal stored there.
• Failure of a company. Insurance against theft or fire is not the same as protection if a custodian, dealer or depository becomes insolvent or acts dishonestly. That is a matter of counterparty risk.
• Metal outside the vault. Metal in transit or kept at home is a different situation. The IRS rule on bullion requires a bank or approved non-bank trustee to keep physical possession, so our home storage page explains why home storage raises separate issues.

What questions should you ask about coverage?

1. Who carries the insurance: the depository, the custodian, the dealer, or you? Who is the named insured?
2. Can you see a certificate of insurance, and what does the policy say it excludes?
3. What is the total limit, and is it shared with all customers?
4. How is the value of lost metal worked out?
5. Is segregated storage treated differently from commingled storage? See segregated vs. commingled storage.
6. Who audits the vault, and does the audit include a physical count? See how to verify your Gold IRA metals exist.
7. Is there a fee for insurance, or is it in the storage fee? Is that fee charged by the custodian, the depository or both?
8. For the depository you are considering, where is its own insurance statement published, and when was it last updated?

Our guide to IRA-approved depositories lists other questions about how depositories are chosen and what to request in writing.

Related questions

Is the IRA custodian responsible for the metal?

The IRS says the bullion exception applies "if a bank or approved non-bank trustee keeps physical possession of it" (IRS). That tells you who must hold the metal for tax purposes. It does not tell you who pays if the metal is lost. That is why the written terms matter.

Is insurance proof the metal exists?

No. Insurance and verification are separate. Ask for both.