Will buying a safe reduce my contents insurance?

paul1984

Hi,
Has anyone ever got contents insurance savings by having a safe in their home?
I've read a few things that certain companies will reduce your premiums if you have one of their approved safes. And I'm sure its a question on some comparison websites so seems important. If this is true can anyone rcommend any good companies to use?
Cheers,:)

paul1984

Just to follow on - I was also looking at getting one of those eurograde safes. Anyone ever bought an approved safe and how did you get on?

Quentin

Online insurers rarely enquire if you own a safe.


Presumably you don't use off the peg insurers if you have so much value/cash that you need a safe, so see what a local broker (not Swinton) can do to reduce your premium after the safe is installed

InsideInsurance

Its mainly the high net worth insurers (or at least the products verging on this) that are interested in that level of security detail

If your not up to that level of possessions then just be pleased is less likely a thief will get your stuff even if the insurance is still the same price.

You could speak to a broker and see what they can do but if your under 75k of items/ under 40k of jewelry etc then they'll probably be more expensive even after the safe disount

xMonsoonx

Some insurance companies limit the valuables amount claimable in theft claims, if items are not kept in a safe.

*Scarlett

If you have a lot of valuables some insurers may require a safe so if you have one you may be able to get quotes from more providers.

If your valuables are within the limits of the policy then having a safe would not normally make any difference to the price.

It's a bit like having approved locks at the property. Insurers say they give a discount for this but many times it makes little or no difference to the price unless you are in a high risk postcode area or have had a recent burglary.

If it's not required don't declare it as you will normally get an endorsement on the policy as regards to theft claims.

Check the comparison sites - if the amount of valuables you have stated comes back as "contact the the insurer" then you can ring them to see if a safe is required.

It would not normally be the case that you get a discount on the price - just a matter of whether they will cover or not.