Insurance & Valuations
Insure your Valuables
and get that ‘Extra Peace of Mind’
The Bank SDC are pleased to be able to offer all our customers exclusive and bespoke safety deposit box insurance policies. We have teamed up with the market leading insurance specialists Noble Security Box to provide both box and wear cover which is available across all box options.
Benefits include:
• Obtain immediate cover for the contents of your safe deposit box
• Up to £500,000 per box for all valuables and cash
• Insurance cover in respect of the following: Gold, Silver other Precious Metals, Jewellery, Precious Stones, Securities, Bonds, Money, Numismatic collections, Philatelic Collections and any other item of value or documents whatsoever.
Safety Deposit Association member policies include Fidelity Cover.
Noble Security Box
Noble Security Box are one of the UK’s leading providers of insurance for the contents of safe deposit boxes. They offer an insurance policy that is issued in the name of the individual who rents the box, not the centre or bank that operates it. This means the policyholders can tailor their policy to their own individual needs and, if the worst should happen, make a claim direct without having to go through their safe deposit centre or bank. Noble Security Box insurers all have a minimum financial security rating of ‘A’. Online access means you can easily view or amend your policy.
Their experienced team is available to talk through any questions you may have. The office hours are 9am – 5pm Monday to Friday.
What do they offer?
Noble Security Box want to make sure you and your valuables are covered correctly. Complimentary insurance has been provided for the first year to get you started. You can increase the insurance on your safe deposit box up to a total of £500,000 at any time. If you require more than £500,000 of cover the contents will need to be split between multiple boxes and there is no limit to the number of safe deposit boxes you can insure. Noble Security Box can also cover cash while it is being stored inside the safe deposit box up to £500,000. The policy can also be extended to include ‘Wear Cover’.
Wear Cover
Wear Cover is an extension to your policy which allows you to take your items outside the safety of your box and centre whilst giving you complete peace of mind that you will still be insured as described below. Wear Cover is a popular addition to the standard policy as it allows items such as jewellery to be covered during special occasions like weddings and religious festivals. Once you’ve upgraded to Wear Cover, you can take you items outside of the box for up to 30 days per policy year. If further days are required, please contact their office on 0121 423 1000 where one of their team will be happy to help. Wear Cover covers items whilst being worn/carried/stored in a locked safe, is only applicable in the UK and will only cover up to 30% of the sum insured inside the safe deposit box up to a maximum of £100,000. Cash is not covered under Wear Cover.
The premiums shown in the table are annual premium for safe deposit box cover only and when no previous claims have been made. The annual premiums include IPT.
| Cover | Annual Premium | ||||
|---|---|---|---|---|---|
| £10,000 | £34.80 | ||||
| £20,000 | £51.60 | ||||
| £30,000 | £68.40 | ||||
| £40,000 | £85.20 | ||||
| £50,000 | £102.00 | ||||
| £75,000 | £144.00 | ||||
| £100,000 | £186.00 | ||||
| £250,000 | £438.00 | ||||
| £500,000 | £858.00 |
The Bank Safety Deposit Centre is an Introducer Appointed Representative of Noble Security Box which is a trading style of Noble Insurance Services Ltd. Authorised & Regulated by the Financial Conduct Authority. Firm Reference Number 305884.
Valuation Service
A vast proportion of households do not insure their contents with sufficient cover. Many are insured for half the true value, and there are many with less cover. Obviously, this can cause severe difficulties should a large claim arise and may even result in a much lower settlement figure.
We offer an independent valuation service which is carried out on site by Prestige Valuations who work in conjunction with Noble Security Box. Prestige Valuations provides the UK’s leading jewellery valuation service. They offer a valuation service and ensure that your precious items are valued securely and discretely.
Our experts will examine your jewellery and provide a written valuation for insurance, which describes in detail, your items of jewellery. They also take digital photographs to distinguish features which will be noted, and full description and details will be written for each item. This makes the process of identifying your jewellery easy if it is ever lost or stolen.
Prestige Valuations charge a simple fixed fee, so you’ll know how much the service costs before you agree to it. They charge £185 per hour.
All their expert valuers have passed the Gemmological Institute of America (GIA) Diamond Grading Course, to ensure you get a reliable and accurate valuation, provided by the UK’s most experienced valuers.
