Insurance ratings for safes indicate the level of protection they offer against theft or fire, as assessed by insurance companies. These ratings are important considerations when selecting a safe to ensure it adequately safeguards your valuables and meets the requirements of your insurance policy. Here’s an elaboration on insurance ratings for safes:
- Cash Rating: The cash rating, also known as the cash value rating, represents the maximum amount of cash or valuables an insurance company will cover when stored in the safe. It is typically denoted in monetary terms, such as £10,000 or €20,000. This rating indicates the level of security provided by the safe and helps determine the insurance coverage for its contents.
- Valuables Rating: Similar to the cash rating, the valuables rating specifies the maximum value of non-cash items, such as jewellery, documents, or electronic devices, that the safe can securely store. While the cash rating focuses on liquid assets, the valuables rating considers a broader range of items commonly stored in safes. Generally it is x10 the amount of the cash rating for Valuables i.e. €5,000 cash = €50,000 Valuables.
- Fire Rating: Fire rating denotes the safe’s ability to withstand exposure to fire for a specified duration without compromising the integrity of its contents. It is expressed in terms of fire resistance, typically ranging from 30 minutes to several hours. Fire-resistant safes are designed to protect documents, electronic media, and other heat-sensitive items from damage in the event of a fire.
- Burglary Resistance Rating: Burglary resistance rating evaluates the safe’s resistance to forced entry attempts, such as drilling, cutting, or prying. This rating is often determined based on standardized testing procedures established by organizations like Underwriters Laboratories (UL) or the European Committee for Standardization (CEN). Safes are assigned a security grade or classification based on their performance in these tests, ranging from Grade 0 (lowest security) to Grade XIII (highest security).
- Eurograde Rating (EN 1143-1): Eurograde rating is a standardized classification system used in Europe to assess the burglary resistance of safes and vaults. Safes are assigned a Eurograde level, ranging from 0 to 6, based on their resistance to various attack methods and tools. A higher Eurograde level indicates greater security and resistance to burglary attempts.
When selecting a safe, it’s essential to consider your insurance requirements and choose a safe with appropriate ratings to ensure adequate protection for your assets. Additionally, consulting with your insurance provider can help you understand their specific requirements and recommendations regarding safe ratings for coverage eligibility. Investing in a safe with sufficient insurance ratings provides peace of mind knowing that your valuables are well-protected against theft and fire hazards.