Geopolitical fears, insurance, fewer banks, … : why Belgians are increasingly turning to external safe deposit boxes

The mystery of the missing safes at the bank continues: “I was robbed of 100,000 euros without a trace”

Insurers recommend using external safes

Meanwhile, the question of insurability plays a crucial role. In Belgium, home insurance often covers valuable items stored at home, even when placed in a private safe. To benefit from optimal protection, insurers increasingly recommend using external safes. This evolution is concretely reflected: nearly 10% of customers now opt for enhanced coverage, a sign of increased awareness of the risk of underinsurance, especially in a context of rising gold prices.

Another significant factor lies in the transformation of the banking sector. For several years, banks have been reducing their physical branch network and gradually abandoning safe deposit services. New establishments, often designed around a digital offering, no longer even integrate safe deposit boxes into their infrastructure. This disengagement leaves a gap that specialized actors like CitySafes are working to fill.
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Peace of mind for customers

In response to these changes, partnerships are emerging between safe operators and insurance companies, allowing for integrated solutions combining physical security and appropriate coverage.

The goal is clear: to offer customers total peace of mind, whether it be for financial assets or objects of significant sentimental value.

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Despite the increasing digitization of documents, the need for physical storage persists. Notarial acts, wills, or sensitive digital media still require secure storage outside the home.