Do German banks insure safe-deposit boxes by default?

Not always. Some banks include a small group policy, while higher limits require an add‑on or a separate valuables policy. Check the rental contract and policy document for exact coverage, exclusions, and deductibles. If needed, request a rider or standalone safe deposit box insurance to match your inventory.

What documents help a claim after a vault break-in?

Provide a police report, a dated inventory, purchase receipts, appraisals for higher‑value items, and clear photos. Keep copies outside the bank. Submit your rental contract and any endorsements. Strong records speed assessment and help your safe deposit box insurance respond within its stated limits and conditions.

Does home insurance cover items stored in a bank box?

Often not automatically. Many policies focus on items at the insured address. Ask your insurer about off‑premises extensions or a valuables policy that explicitly covers bank storage. Make sure the wording aligns with your box use so safe deposit box insurance remains valid and adequate.

How should I store gold bars and coins securely?

Use reputable vaults with segregation options, clear custody terms, and audit evidence. At home, install a fixed high‑grade safe and an alarm, and keep a low profile. Keep invoices and photos. Match declared values to limits in your safe deposit box insurance to avoid underinsurance.

Law and Government

January 03: Sparkasse Heist Puts Safe-Deposit Security, Insurance in Focus

ByDanny Kontos January 3, 2026January 3, 2026

Safe deposit box insurance is front and center after the Gelsenkirchen bank heist at Sparkasse, where thousands of boxes were looted and losses reached tens of millions of euros. For German customers, the issue is clear: what is covered, how to prove losses, and how to protect valuables going forward. For investors, claim costs, policy repricing, and vault upgrades matter. We explain coverage basics, security checks, and steps to strengthen protection for cash‑equivalent items, jewelry, and precious metals in Germany.