Home Insurance valuables and other home insurance questions

bery_451

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?

FlameCloud

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

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.

bery_451

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

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

According to the insurance contract between you and the company, although it actually includes valuables

bery_451

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

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

paddyandstumpy wrote: »

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.

Ok understood many thanks. Finally does the cash rated safe has to be fixed to something or can it remain portable/freestanding?