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  • FIRST POST
    • bery_451
    • By bery_451 8th Jan 18, 2:04 PM
    • 1,102Posts
    • 31Thanks
    bery_451
    Home Insurance valuables and other home insurance questions
    • #1
    • 8th Jan 18, 2:04 PM
    Home Insurance valuables and other home insurance questions 8th Jan 18 at 2:04 PM
    Hi,

    When declaring valuables for a home insurance quote like jewellery etc. then does it have to be in a safe?

    If so what criteria the safe must meet in order to be accepted by home insurers?
Page 1
    • FlameCloud
    • By FlameCloud 8th Jan 18, 3:14 PM
    • 1,792 Posts
    • 870 Thanks
    FlameCloud
    • #2
    • 8th Jan 18, 3:14 PM
    • #2
    • 8th Jan 18, 3:14 PM
    It will depend on the value of the items - most policies will not insist they are kept in a safe unless you have either disclosed it to them for a premium reduction, they are above a set limit (variable by insurer) or are in a high risk theft area.

    Even then, the type and protection required will vary alot by the nature and cost of the valuables you want to insure.
    • Blibble
    • By Blibble 8th Jan 18, 6:30 PM
    • 306 Posts
    • 300 Thanks
    Blibble
    • #3
    • 8th Jan 18, 6:30 PM
    • #3
    • 8th Jan 18, 6:30 PM
    Check with the specific insurer - most standard policies won't require this although it really does depend on the nature of the item you are wishing to insure.
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    • bery_451
    • By bery_451 8th Jan 18, 10:55 PM
    • 1,102 Posts
    • 31 Thanks
    bery_451
    • #4
    • 8th Jan 18, 10:55 PM
    • #4
    • 8th Jan 18, 10:55 PM
    Hi my relative getting the home insurance is declaring items like gold jewelry over £5000.

    Does it has to be on a safe according to most home insurers?

    What usually is required in a safe by most home insurers?
    • comeandgo
    • By comeandgo 8th Jan 18, 11:05 PM
    • 1,901 Posts
    • 2,589 Thanks
    comeandgo
    • #5
    • 8th Jan 18, 11:05 PM
    • #5
    • 8th Jan 18, 11:05 PM
    I have items of value and my policy does not ask for items to be kept secure. My husband has expensive cycle and the policy specifies it must be secured to a concrete base when not in use, different insurers have different requirements.
    • oussa21
    • By oussa21 8th Jan 18, 11:16 PM
    • 1 Posts
    • 0 Thanks
    oussa21
    • #6
    • 8th Jan 18, 11:16 PM
    • #6
    • 8th Jan 18, 11:16 PM
    According to the insurance contract between you and the company, although it actually includes valuables
    • bery_451
    • By bery_451 9th Jan 18, 12:09 AM
    • 1,102 Posts
    • 31 Thanks
    bery_451
    • #7
    • 9th Jan 18, 12:09 AM
    • #7
    • 9th Jan 18, 12:09 AM
    Ok understandable but what are the industrial standards when it comes to safes?

    My relative likes to buy a safe that passes majority of standards and criterias you know what I mean.
    • paddyandstumpy
    • By paddyandstumpy 9th Jan 18, 6:26 AM
    • 944 Posts
    • 426 Thanks
    paddyandstumpy
    • #8
    • 9th Jan 18, 6:26 AM
    • #8
    • 9th Jan 18, 6:26 AM
    It will need to have a jewellery rating sufficient to protect the contents.

    This is normally 10x the cash rating, so if you had a safe with a £1,000 cash rating it would be good to hold £10,000 of jewellery.

    Anything in addition to that is contract specific (hence the advice to check with the current or prospective insurer) as some may require above and beyond this, or for the safe to be bolted to a wall or the floor.
    • bery_451
    • By bery_451 11th Jan 18, 11:51 PM
    • 1,102 Posts
    • 31 Thanks
    bery_451
    • #9
    • 11th Jan 18, 11:51 PM
    • #9
    • 11th Jan 18, 11:51 PM
    It will need to have a jewellery rating sufficient to protect the contents.

    This is normally 10x the cash rating, so if you had a safe with a £1,000 cash rating it would be good to hold £10,000 of jewellery.

    Anything in addition to that is contract specific (hence the advice to check with the current or prospective insurer) as some may require above and beyond this, or for the safe to be bolted to a wall or the floor.
    Originally posted by paddyandstumpy
    Ok understood many thanks. Finally does the cash rated safe has to be fixed to something or can it remain portable/freestanding?
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