Does Swiss deposit insurance cover safe‑deposit box contents?

No. Swiss deposit insurance protects eligible bank account balances within the legal framework. Safe‑deposit box contents are not covered. Clients typically need a household or valuables policy, and some insurers require itemized declarations and evidence. Always confirm limits, exclusions, storage rules, and documentation needs in writing.

What documents help after a safe‑deposit theft?

Invoices, detailed photos, appraisals, serial numbers, and, for bullion, bar numbers and purchase receipts. Keep copies in secure digital storage or off‑site. The stronger your records, the faster claims progress and the better your chance of fair valuation. Weak documentation often leads to delays or reduced payouts.

Will banks and insurers change terms after this case?

We expect tighter underwriting for valuables, more documentation requirements, and higher premiums where losses rise. Banks may upgrade vaults, access controls, and monitoring. The Gelsenkirchen bank heist also increases reputational risk, so institutions will boost client communication, incident response, and security audits to restore confidence.

Should I move valuables out of a bank box?

Not necessarily. A bank box can still be a secure option when paired with proper insurance and documentation. Review your policy, confirm coverage for items kept in the box, and update appraisals. If you hold high‑value items, discuss higher limits or a dedicated valuables policy with your insurer.

Law and Government

December 31: Gelsenkirchen Heist Highlights Safe-Deposit Coverage Risks

ByHuzaifa Zahoor January 1, 2026January 1, 2026

The Gelsenkirchen bank heist is a sharp warning for Swiss clients and investors. Police say thieves drilled into a Sparkasse vault, hitting around 3,200 safe‑deposit boxes and taking an estimated €30 million. A black Audi RS6 with stolen plates appears in video. As year‑end inventories peak, we see rising claims exposure, higher security budgets, and tough proof‑of‑contents disputes. Here is what this event means for Switzerland, from coverage gaps to bank and insurer cost pressures.