Michael Stein Safer with safe
If you want to keep your valuables at home but do not use a safe, the insurance company can refuse to pay in the event of loss (theft/destruction), provided they insure unsecured values at all. However, you should always read the small print in the contracts for your household contents insurance. Often there are passages like this:
“Valuables are only covered by insurance if they are kept in a ‘safe’ that corresponds to the value of the item.”
When looking for the right safe, you immediately come across a bewildering variety of standards. However, these standards are the basis for determining the appropriate insurance cover. Which assets are covered by insurance depends on the security level (burglar resistance) and resistance level (fire protection) assigned to the safe.
The fact that your safe complies with the respective standard should be documented by a sticker from an approved, certified institute (usually on the inside of the safe door).
Below we only consider German and European standards. Internationally, one also encounters countless products and standards that are not recognized by insurance companies.
ARES CAPITAL TRADE insurance advice www.ares-capital.co.uk