Many people keep particularly valuable items in a bank safe deposit box – with the comforting feeling that everything is safely stored there. However, a prominent case of burglary, in which bank customers are said to have suffered losses in the hundreds of millions according to media reports, clearly shows that a safe deposit box does not automatically protect against financial losses. What is often underestimated is that banks’ liability is usually clearly limited. Cash, jewellery, precious metals and important documents are often only partially covered, if at all. In addition, it can quickly become expensive in the event of a claim if there is no reliable proof of value. According to the bank concerned, the contents of individual safe deposit boxes were only insured up to £10,300 without a special agreement. Our advice: With special safe deposit box insurance, valuables can be insured in a targeted and transparent manner. Depending on the scope, this is possible from as little as approximately £100 per annum plus insurance tax per £100,000 of sum insured.
Interested in further information? We look forward to your call.
Your contact persons
Simon Friebe
Team Leader Private Customers
Business Economist (VWA)
Phone +49 7121 923-1114
Mobile +49 173 3280165
sfriebe@rvm.de
Melanie Timke
Business economist (VWA)
Phone +49 7121 923-1153
privatkunden@rvm.de
