A Safe Investment

Why bother having a good quality safe installed? – an insurance broker’s perspective.

Owning a classic piece of jewellery or a watch comes with a price tag.  Not only is there the initial investment, (unless of course you’ve inherited it) but there’s the cost of looking after it – the servicing, the repairs and of course the insurance.   And as an owner of a beautiful piece of jewellery, I’m guessing you’re not going to cut corners when it comes to looking after it.

The first step to protecting your jewellery or watch is to make sure it’s covered with insurance and for many people that’s where it ends – insurance is there if the worst happens so once you’ve got that in place, why bother with any extra precautions?

The fact is, insurance provides financial compensation but it doesn’t get you back the original item.  If you’ve taken some sensible steps (like photographing the items and having an up to date valuation), you may get an identical replacement but inevitably there’s a lot of heartache and stress involved in the process.

As a broker we’ve been dealing with high net worth clients since 1989 and we strongly advocate taking extra precautions to look after all your valuables – alarms systems, locks and of course a good quality, approved safe.  If you can prevent the theft happening in the first place, it saves a lot of heartache down the line and your premiums going up!

As an expert in high value contents insurance we find, typically, once you have jewellery and watches of over £50,000 in value, the insurer will stipulate that you need a safe installed at your home.  We make sure our clients are aware of any warranties around that – what rating the safe needs to be and how it should be anchored in.  A good safe supplier will also provide advice on correct safe for your circumstances – the rating and installation requirements to ensure your insurance is valid and you get the best protection.

If your insurance doesn’t stipulate you need a safe, having one installed may well reduce your insurance premiums as a result.  If you are looking for an insurance deal that includes discounts for extra security, use an insurance broker to guide you through the process and get you the best price and most importantly, the most suitable cover for your circumstances.

We hope you enjoy your jewellery and watches for many years to come.

Article written by James Mant

Partner, Greenfield Insurance Services.  Looking after our high net worth clients since 1989.

www.fineinsurance.co.uk  01489 579808