Insuring My Goods Whilst in a Safe Deposit Box


Everyone has valuable items that they need to store somewhere. Storing them at home can be inconvenient as you worry they might get lost or stolen. As a consequence, storing them in a safe deposit box is a great alternative.


The Importance Of Insuring Goods

Here at Cardiff Safe Deposit, we place emphasis on insuring goods that are in our safe deposit boxes and offer a free basic insurance package, plus we have negotiated special rates with one of the leading UK insurance companies if you need additional cover.


With insurance, you pay a tiny fee to cover your goods, so in the extremely unlikely event the worst happens, you’re covered for the value of your goods. If nothing happens, you’ve paid a fee that’s so insignificant you won’t notice it on your annual bank account summary.


Our Basic Insurance Offer

Currently, all our safe deposit boxes come with a complimentary insurance package that covers your items up to £50,000 for one year. This means you can protect your items to that value for free during the first year of your contract.


Additional Insurance With Ellerton Knight

We’ve partnered with insurance giants Ellerton Knight to help bring more insurance offers to our customers. Now, you can pay to add extra insurance up to a massive £500,000! You get a range of additional benefits with this, such as:


●      Optional cover for items outside your box - You can cover your goods as you transport them to and from your box, or if you wear them out somewhere. This is available up to 20 days per year.


●      You can select cover that’s much more than the basic £50,000 - Ideal for people with really expensive items in their safe deposit box.


●      Insurance from an FCA regulated company - Our partners are FCA affiliated, so you’re guaranteed to get a good service that plays by the rules. Not only that, but they’re experts in this specific type of insurance, meaning they can find the best cover for you.


Regarding prices, you’re looking at these options:


Cover              -           Annual Fee

£10,000           -           £31.80

£20,000           -           £48.60

£30,000           -           £65.40

£40,000           -           £82.20

£50,000           -           £99.00

£60,000           -           £115.80

£70,000           -           £132.60

£80,000           -           £149.40

£90,000           -           £166.20

£100,000         -           £183.00

£200,000         -           £366.00

£300,000         -           £549.00

£400,000         -           £732.00

£500,000         -           £915.00


At the largest end of the scale, you can get insurance to cover £500,000 worth of goods, for a mere £915. That’s £76.25 a month or approximately £19 per week. You can spend more than that per week on coffee and eating out, so it’s really not that expensive.


These prices are correct as of 25/10/2017 and are subject to change. If you want to insure your items when they’re out of the box as you wear them, you need to purchase additional Wear Cover.


All in all, if you want to keep your most valuable items as safe as possible, consider purchasing insurance for your safe deposit box through our established partners Ellerton Knight.


Please pop into the store to speak with us and view our facilities, as well as get any more information you require about insurance coverage!