What is the cash
rating of a safe?

Australian note and coins

Safe cash ratings are a maximum value to which an insurance company will normally
cover the contents of a safe.

More secure safes have higher cash ratings.

A cash rating has little to do with the size of the safe, but about what materials are used and how the safe is constructed. A cash rating is decided by the thickness of steel in the safe walls, the quality of the lock and the amount of locks included. It also considers the protection installed around the lock.

In addition, if there is an alarm installed the cash rating will increase.

However, this does not mean that if your safe has a $5,000 cash rating, your insurance company will automatically cover you for that amount. It could be more, or it could be less. You will need to discuss this with your insurance company. Do not assume, always check.

However, cash ratings are a good way of comparing safe quality across brands. Industry standards are that unsupported cash ratings are quoted. This means that there is no alarm system or other security systems to support the safe.

Cash ratings are largely self-regulated in Australia where as in the UK they are decided by The Association of Insurance Surveyors (AiS), who are the UK’s accreditation body.

A higher cash rating in turn can increase the cost of the safe. So, it is a good idea to match the value of what you are likely to store in your safe to the cash rating of the safe, so you do not buy more than you need.

Lastly remember to check with your insurance company, this is important.

Useful information

What you need to know about buying a safe.
Knowing what cash rating is best for you, helps you choose the most appropriate safe for your needs. Buying a safe with a cash rating much higher than you need could lead to you overpaying.


Find this helpful?

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