Safe insurance – how to insure the contents of your safe correctly
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AT A GLANCE
Safes protect your valuables against theft. However, to ensure that your jewellery, cash and watches are also protected financially if the worst comes to the worst, you need the right insurance. We explain what you need to bear in mind.
Valuables in your safe – get your household contents insurance checked
A safe protects your valuables against burglary and robbery, but for the contents to be insured, you need to have the right household contents cover. Our experts will work with you to check whether your current policy provides sufficient cover for jewellery, cash and watches before a claim occurs.
What is safe insurance?
There is no such thing as separate “safe insurance” in Switzerland. Your household contents insurance covers the contents of your safe, and can be supplemented with valuables insurance if necessary. The safe itself offers physical protection against burglary and robbery, while the insurance provides financial compensation in the event of a claim.
Which safe security level really protects your jewellery and watches?
The key basis for classifying safes is the European standard EN 1143-1. The resistance levels it defines indicate how long a safe can withstand a break-in attempt.
The higher the resistance level, the higher the possible insurance cover for the contents. You can find the VdS inspection sticker on the inside of the safe door. This shows that your safe has a recognised certification.
At Allianz, an amount of CHF 20,000 is insured for jewellery and watches without a certified safe. In return for a higher premium, cover may be increased to a maximum of CHF 50,000. The limit no longer applies if your safe weighs at least 100 kg, is walled in or has been certified to resistance level I or higher according to EN 1143-1.
Do you have questions? Our experts will be happy to assist you.
Safes for self-employed people: private property versus business assets
Anyone who works on a self-employed basis or from home should bear in mind that household contents insurance only covers private property. If you keep cash from your business operations, customer goods or business inventory in a safe at home, they are not automatically insured. The following business assets would be affected, for example:
- Cash from cash registers
- Customer goods or sample collections
- Business documents and company data carriers
If you keep both categories of assets together in one safe, you need two coordinated policies – one for your private property and one for your business assets. The Allianz advisors will be happy to find an appropriate solution for you via our property insurance for business customers.
Cash, jewellery, watches... how do the contents affect insurance cover?
Not all content is insured in the same way. Cash has a lower limit of cover than jewellery and watches as it is very difficult to document and gets stolen particularly often during burglaries. Cover for jewellery and watches can be significantly higher, provided that the safe has the appropriate security level. Strictly speaking, documents and data carriers belong in a fireproof safe. The risk here is not theft but loss due to fire or water damage.
Household contents or valuables insurance: how do I insure the contents of my safe correctly?
Which insurance is right for you is determined by the contents of your safe. Jewellery, standard quantities of cash reserves and watches are generally covered by your household contents insurance, but only within the agreed maximum limits. For high-priced individual items such as watch collections, expensive heirlooms or particularly valuable pieces of jewellery, Allianz valuables insurance with compensation at replacement value and global cover for up to two years is the ideal addition.
How much does it cost to insure the contents of my safe?
Allianz does not define a separate premium for safe contents. All you have to do is adjust the sum insured in your household contents insurance and supplement it with valuables insurance if necessary.
What you actually pay depends, among other things, on the following factors:
- The maximum sum insured for jewellery, watches and cash
- Your place of residence and the associated risk of burglary
- The deductible you have selected
- Security measures such as certified safes and burglar alarm systems
Insure your safe with Allianz – a reliable solution for your valuables
Allianz household contents insurance features adjustable sums insured for valuables, jewellery and cash. For particularly valuable individual items, we also offer valuables insurance. In this way, the insurance for the contents of your safe can be tailored precisely to your situation in life:
- Indemnity is calculated on the basis of replacement value, ensuring that damaged or stolen valuables are compensated without an age deduction
- Emergency assistance around the clock in the event of a claim
- Personalised advice from our experts at your location
If you combine both – the right safe and the correct household contents insurance – you will definitely be on the safe side.
Insure the contents of your safe – personalised advice from Allianz
Up to what amount would you like to insure your jewellery, watches and cash? The Allianz advisors assess your situation individually and adapt your household contents insurance to the category and fixation method of your safe and value of its contents. That way, you can be sure that you have the right solution for your valuables, from standard cover to household contents all risks.
Frequently asked questions and answers
Allianz recognises safes with VdS certification according to EN 1143-1. The security level determines the maximum sum insured for the contents. Before you buy a safe, check your individual terms and conditions of insurance and talk to the Allianz advisors to ensure that your safe and insurance policy match.
A safe alone is not enough. You must specify the value and agree the maximum sum insured for jewellery, watches and cash with Allianz. Without this change, only the general limits of your household contents insurance apply.
Safes certified to EN 1143-1 must be properly attached to the building in accordance with the manufacturer’s specifications. To determine how your safe should be fixed in your specific situation, the best thing to do is to talk to our advisors.
In principle, the insurance covers all items that are private property, are within the agreed sum insured and can be evidenced with receipts. Purchase receipts or valuations for jewellery, watches and other valuables are required. Keep this evidence in a secure place away from the safe.
Burglar alarms are not mandatory for Allianz to insure the contents of your safe. However, anyone who instals one can benefit from a premium discount. The exact conditions depend on the individual insurance contract – the Allianz advisors will be happy to clarify these with you in person.
Take an individual photo of each item and collect purchase receipts and valuations for jewellery, watches and other valuables. Keep these documents in a separate, secure place – not in the safe itself. An up-to-date inventory list speeds up claims processing and helps you to avoid underinsurance.
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