Do you have an API that quotes insurance for store vaults? Would you like to be able to obtain more accurate information on metal prices? Well, in that case, we have excellent news for you. Thanks to this precious metals API, you will be able to obtain them! Just check this post!
A vault could be explained as a safe space in which money, valuables, ingots of metal, precise jewelry, records and documents can be stored and kept. Its objective is clear, to protect this content against theft, unauthorized use, fire, natural disasters, and other threats. It’s like a safe. However, unlike safes, vaults are an integral part of the building within which they are built, with armored walls and a hermetically sealed door formed with a complex lock.
Modern bank vaults often contain many safe deposit boxes, as well as places for cash drawers for tellers and other valuable assets of the bank or its customers. They are also common in other buildings where valuables are kept such as post offices, large hotels, rare book libraries, and some government ministries. Even the governments of a country usually keep the gold bullion reserves in a vault. Much value deserves great protection.
You could say that vaults are 100% secure, but this is not the case. There is a reason for vault insurance that offers services. It is important not to leave anything to chance and to have sufficient protection in the event of a misfortune. However, the price of this type of insurance is not the same. Each vault has its value. For this reason, it is important to use APIs such as Metals – API, which will provide you with the prices of metals such as gold, silver, and platinum. In this way, your company will be able to quote vault insurance with greater precision.
Use Metals – API to quote insurance for store vaults
Imagine that your insurance company wants to quote insurance for a jewelry store that owns millions of dollars worth of jewelry such as rings, necklaces, and much more. In that case, you will need to know how much metals such as gold, silver, platinum, and rhodium are trading. These precious metals do not always trade at the same prices. Some days their prices go up considerably and other times, they go down. Depending on the price, it will determine the price you will have to offer for the vault insurance.
Also, you should know that Metals – API offers very reliable and updated information. In fact, the information is not from Metals – API. What this platform does is simply connect with the main metal exchanges in the world such as the London Metal Exchange (LME), the London Bullion Market Association (LMBA) and many more. As you can see, these sources of information are super reliable. And all of this precious metal data will be delivered in just a few seconds! However, this last feature depends on the plan you choose. There are other cheaper plans that offer information every 10 minutes or every 60 minutes.
In order to use the features offered by Metals – API, you just need to register and follow the instructions. You can use the Quick start Tool and start using the API easily, without the need to read extensive instructions. Definitely, this API is the best for your insurance company to quote insurance for vaults.
Also published on Medium.