When insurers impose additional security measures as a condition of the policy
We recently received this enquiry from a new customer:
“I am about to renew my home insurance policy and my insurance provider has placed a condition on my renewal by insisting that I should have a safe installed at my home. The insurance provider has stated that the safe must be £6K categorised. I have searched the internet and have identified your organisation as a good place to start with my research on this matter.”
On further investigation, this new requirement from the gentleman’s insurer was prompted by him declaring new jewellery purchased. This increase in the value of his contents meant that his insurance policy would only cover it if he took additional security measures to protect it: an appropriate security safe, in this case a safe rated for a value of £6000 cash and £60,000 valuables (the ‘valuables’ rating is always 10 times the cash rating).
If you have high value jewellery or keep cash in the house then having a good quality safe is recommended and this case demonstrates that items like these NOT kept in a safe probably wouldn’t be covered under many home insurance policies, so don’t take any chances. If you don’t have individual high value items but your jewellery and valuables have a cumulative high value then the same principle applies.
If you have a safe you may think you’re covered but that’s not necessarily the case. As well as being of an appropriate rating, a safe must also be installed properly so that it cannot be easily removed. This means being fixed to a floor or wall and it’s not enough to be bolted to floorboards or plasterboard – it needs to be fixed to a joist.
The rating of a safe is based on 4 main factors: the resistance to being moved, the thickness and strength of the walls and doors, the security and complexity of the locking mechanism and the general build quality.
Remember as well that a safe can not only protect your valuables from theft but also fire and flood so they’re also great for storing important documents or items of sentimental value.
What’s the best safe to buy?
That depends on a number of factors: the cash rating you require, size needed, where you want it installing etc. If you’re not sure what you need, our locksmith can advise you as well as offer professional installation and all advice is offered free of charge.
You can see more about home security safes here or give us a call on 0800 612 9799 for more advice.