FAQ:
The most frequently asked questions regarding safes!
Why are Safes so expensive?
Safes are far from expensive! There is a saying that ‘a safe is for life’. Safes rarely breaks down over time be it in years or decades. It is a once-off purchase that will be able to last a life-time, passed down from generation to generations. When divided over the course of intended years of usage, it is extremely affordable protecting priceless valuables. For Example: A safe costing $500 upfront to be used for just 15 years. This equates to less than $2.80 per month, and safes can typically last for much longer than the 15 years used in the above calculation.
What does a typical customers put in their safe?
• Passport
• Insurance Documents
• Will
• Title Deeds
• Sentimental photos
• Memory Cards, Thumb Drives
• Birth Certificate
• Heirloom
• Precious Metals and Jewelry
A safe is not just about keeping valuables in monetary terms, but also important documents as well as items with sentimental value. If these items are lost, it will either be a hassle and extremely expensive to replace, or near impossible to reacquire.
Should I buy an electronic or combination dial safe
A combination dial safe costs less and is more durable due to the lack of electronics. However, it is also more complex to use and takes significantly longer to unlock the safe. Some combination dial safes have non-changeable passwords (randomly assigned from factory).
An electronic safe on the other hand, is easier to use, and the password can be changed by the user with ease. The downside is that an electronic safe cost more, and require servicing over time(many years later) when electronics fail. Electronic safes are powered by battery which require changing too!
Isn’t safe deposit box better than a home safe?
Safe deposit boxes (from banks/Cisco) are more secured due to armed security personnel and CCTVs. Although safe deposit boxes and home safes are essentially 2 very different product offering, a home safe provides
• Convenience of access without the need to make appointment with the bank/Cisco and you are not limited by the opening hours.
• 1 year’s fee typically equates to the cost of buying a home safe
• Due to the secretive nature of safe deposit boxes, you are the only one who knows what is inside it which generally works against you in the event when things go missing or destroyed.
• You home safe sits in your home while a safe deposit box sits in a remote location. Due to the secretive nature of safe deposit boxes, you are the only one who knows what is inside it which generally works against you in the event when item goes missing or destroyed.
A great commentary in 2017 about safe deposit boxes is in the link below.
https://www.straitstimes.com/business/invest/time-to-part-ways-with-safe-deposit-boxes
Are home safes secured?
There are no safes in the market that is 100% secured; even banks do get broken into, therefore authorities such as the police often patrol around key installations like banks for that very reason. However, one thing for sure, a home safe is definitely more secured than putting your valuables in your wardrobe, cupboard etc. Essentially, a home safe buys you time in the event of a burglary.
What else can I do on top of using a safe?
• You may want to install a CCTV system and burglar alarm at home
• Clear your mailboxes and cancel your newspaper subscription when you are away for prolonged periods of time