Does a buying you a safe reduce your home insurance premium?

dwsjarcmcd

mufi wrote: »

Change the insurer?

Most have a fairly similar requirement when valuables get beyond £15k. Having bought it for not a lot of money and bolted it to the floor in a cupboard in a spare bedroom, I find it very handy to have.

dacouch

dwsjarcmcd wrote: »

Most have a fairly similar requirement when valuables get beyond £15k. Having bought it for not a lot of money and bolted it to the floor in a cupboard in a spare bedroom, I find it very handy to have.

and a good example of when you buy a safe ensure you future proof it by buying a safe with a cash and / or jewellery rating of more than you need. *

*Safes have a rating of how much in value they designed to hold shown in £'s for jewellery and for cash (The cash rating is generally lower than the jewellery rating)

mufi

dwsjarcmcd wrote: »

Most have a fairly similar requirement when valuables get beyond £15k. Having bought it for not a lot of money and bolted it to the floor in a cupboard in a spare bedroom, I find it very handy to have.

Try a broker - I use Alan Boswell.


Problem with a safe is that, unless you always use it to store valuables, you're not covered if anything is stolen that should be in the safe and isn't. Same applies to window locks and burglar alarms, so I don't tell my insurer I have them either.

FlameCloud

mufi wrote: »

Try a broker - I use Alan Boswell.


Problem with a safe is that, unless you always use it to store valuables, you're not covered if anything is stolen that should be in the safe and isn't. Same applies to window locks and burglar alarms, so I don't tell my insurer I have them either.

This is really sensible advice. There is no point in getting 5% off your premium if your insurers put on endorsements that are really onerous to comply with on a daily basis.

InsideInsurance

dwsjarcmcd wrote: »

Most have a fairly similar requirement when valuables get beyond £15k.

Certainly not the norm at all, Marks & Spencers Premier covers £50,000 of valuables as standard and has no requirement for a safe. In fact NFU were the only insurer that even asked if we have a safe when doing quotes for our contents which has over £15k of valuables (though we didnt approach Hiscox, Chubb etc who all would undoubtably have asked).

As to the OPs question, mass market insurers generally dont ask and so no discounts are available. HNW providers often will but more commonly it will be a statement that you must have one and use it than really a discount being applied.

Always though with these sorts of things.... look at it as a way to avoid the issues of having to make a big claim rather than a premium saving mechanism