Safe deposit Box. Video Taking.

Week 7.1 Safe deposit Box. Video Taking.

Some time ago, I made a call to an insurance provider with regards to Insurance matter. Here are some pointers for you.
a) Keep the receipts separate from the stuff you put inside the box.
b) Make copies of the receipts
They don’t want to know what you keep inside your box at the same time you must be able to prove that the stuff is inside there. Isn’t it odd.
c) Best way is to take a video (not even photo)

Have you try to take a video before, if no then give it a try it‘s not as easy as you think. Only the hirer or co-hirer is allowed to go inside the safe box room. Thus, you must get assistance from your co-hirer. Ops, somebody will know what you have.

Before you visit the site, buy today newspaper. Ask for assistance from your co-hirer to take the video cam. Tell the safe operator that it’s going to be long session because you intend to take a video for insurance purposes.

The whole video session should not be disrupted from the point you enter the safe room until you leave the safe box room. Then there is no dispute on what you own inside the box. Take a photo of today newspaper along with the time and date in the safe box room. So that no dispute on dates. & time. The safe deposit operator should have a record on customer access.

The video must not have any blanks in between because the insurance company can dispute that you may slip in few gold bars inside your pocket during the blank period. Thus you need an assistant. The video taken must be in high definition should that can clearly show what you own.
Video should be taken on your last visit. After that don’t visit the safe box anymore unless you are willing to take the whole video session again.

I ‘m not sure about any court case with regards to dispute on total compensation of loss safe deposit box due to hirer’s inability to prove the content inside the stolen box. As far as I know most of the cases, the hirer are only compensated a maximum of RM10,000/- per box.

If you think that by showing your receipts and photo is not sufficient for you and you want a less hassle free settlement with the insurance provider then take the video. When comes to payment there will always be a lot of issues, doubt etc raised. However, these are not told when you took up the insurance policy.

Related Questions
1. Audit on Safe box, does the safe box operators keeps a record on who enters the safe box room and for how long the record is kept. What is the regulatory requirement on this? Suppose you have taken the video 3 years ago and never touch your safe since then.