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ADVISORY
AN ADVISORY
FROM ROYAL SAFE
HB Secured Vaults’ Advisory for our Astute Clients
What Items should go into a Safe Deposit Box?
It is a very simple test. Any personal items that would cause you to say, “If I lose this, I am in deep trouble.”
Important documents to consider putting into your Safe Deposit Box:
Originals of your Insurance Policies; Family Records such as Birth, Marriage and Death Certificates; original Deeds,
Titles, Mortgages, Leases and other contracts; Stocks, Bonds and Fixed Deposit Certificates (FD Certs).
Other valuables worthy of a spot in your Safe Deposit Box include special Jewels, Medals, Rare Stamps and other collectibles, Negatives of Irreplaceable Photos, and Videos or Pictures of your home's Contents for Insurance purposes (in case of theft, fire or any other damage).
Passports are one of the most sought-after documents by illegal immigrants. A Malaysian passport can fetch about RM50,000 to RM60,000 in the black market. Getting a replacement is also very tedious.
Architects and Engineers may want to safe keep their drawings, plans etc. Software engineers and other professionals would want to keep their or their client's confidential files and CDs.
Lawyers may want to safe keep Highly Confidential Files & Documents, Evidence, Exhibits etc.
Businessmen may want to keep Confidential Files, Documents, Company Records, Agreements, Records of important meetings.
Individuals and those who deal in Gold Bullion, Gold Coins, Gold Dinars, Gold Biscuits etc.
Your procrastination can literally cost you a fortune, so do the right thing - RIGHT NOW
Experience shows thieves would ransack every nook and corner of the house, as such, keeping attractive items which may be your entire life’s savings
or investment in undergarments, socks, onion baskets, the fridge and grand ma’s medicine box is not the best of places these days.
As much as one can think of a safe place likewise thieves also would look for these items in the most unimaginable places.
And the list goes on…
Are there extra precautions I can take to minimise damage?
- Prevent damage by water by sealing items in airtight, zip-lock bags or Tupperware-style containers.
- Write your name on each item.
- Keep a list of the box’s contents i.e. have a clear list of everything that you keep in the box. The list will be of great importance if you need to make an insurance claim.
- Make copies of important documents.
- Take photos of your most prized items left in the Safe Deposit Box.
- Keep original copies of purchase receipts or invoices.
- Valuation reports of items passed down as heirlooms.
- For items such as Gold Bullion, Gold Bars, Gold Coins, Gold Dinars, Gold Biscuits, expensive Jewellery & Watches etc, as these items are expensive and always sold with proper receipts, it is mandatory to produce proof of purchase.
- In an unlikely event of a claim, it would be mandatory to produce proof of purchase for any item purchased after one has hired a Safe Deposit Box. Therefore, clients are required to keep these receipts/invoices properly. Anything you do to increase chances of successfully identifying, claiming or recovering an item is worth the effort. That way, if a disaster occurs, your chances of successfully identifying, claiming or recovering an item would be increased.
HOW DO YOU CHOOSE A SAFE DEPOSIT SERVICE PROVIDER?
Some important considerations before deciding on a
Safe Deposit Box service provider.
Location
By far the most important aspect, as the Security and Strength of the Vault would be dependent on the location.
Vault
Is the facility design and constructed in accordance to world standards? Is the facility just made up of simple brick walls? Many centres falsely claim to have reinforced concrete, steel, reinforcing bars & BRC walls.
The weight of a reinforced concrete vault with steel measuring 60ft x 22ft is about 60 tones. This would be 14in walls all round, 24in thick flooring and at least 12in thick ceiling. Such a weight would need massive foundation to support the vault. In the absence of equally strong columns, the vault need to rest on the ground with piles supporting the weight. As such, any discerning vault on a 2nd , 3rd or higher levels will cause the entire building to collapse. Therefore, it is impossible to build a discerning vault of such thickness and strength in shopping complexes or on a 2nd or 3rd floor.
One must also take cognizance that one has no control over the top and bottom floors, thus exposing the client's valuables to undesirable elements.
One must also take cognizance that one has no control over the top and bottom floors, thus exposing the client's valuables to undesirable elements.
Insurance
What kind of insurance cover does the facility offer? Is there any free insurance cover offered and how much is the cover for? Compare the top up (extra) insurance rates with other centres. Are the rates competitive?
The level of risk an insurance company is willing to underwrite for a safe deposit box centre is the testimony of the trust the company has in the Credibility, Security and Strength of the service provider.
Fire
What kind of fire fighting method does the facility have?
In case of a fire, the vault should have its own and independent Fire Fighting System and not rely on a central system which is not designed to cater for the unique requirements of a vault and your contents in the vault. A Clean Dry Agent system is most appropriate for a vault and its contents. The last thing you would want is your documents damaged by a water sprinkler system.
Car Park
Is there a car park? Logically one should be able to pop in and out of the vault without having to walk more than 10-20 steps from one's car.
Though one may just be carrying an envelope of documents, there is grave danger of you or your loved ones being mugged walking back to your car, parked in a shopping complex car park.
Security
Is the facility monitored 24/7 with CCTV surveillance equipment and a sophisticated alarm system directly linked to a Central Monitoring System? Does the facility have on-site close protection officers (Armed Security Guards)?
Does the centre have 24 hours dedicated Security Guards physically present within the Centre. A SDB centre cannot rely on Guards which would also have other security duties.
Access
A SDB centre should have convenient access hours and not limited to normal working hours. One should have the freedom to visit one's SDB outside banking hours, especially on Public Holidays. A SDB centre's opening hours should not be dictated by the opening and closing hours of any complex.
We avoid setting up Safety Deposit Boxes at shopping complexes for the following reasons:
Safety of Clients – walking back too far a distance from the Safe Deposit Box Centre to their cars parked in the car park
Danger of being mugged in the lift, staircase or while walking back to the car or even in the Car park
Impossible to reinforce the floor and ceiling of the vault/strong room. If reinforced without proper piling/foundation, (which is not possible in existing complexes) danger of collapsing due to excessive weight
No control over occupants and happenings on top and bottom floors
A SDB in a shopping complex’s opening hours are dictated by the opening and closing hours of the complex.
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CALL US: +603 555 HBSV
HB Secured Vaults
Ground Floor, Menara Darussalam, 12 Jalan Pinang, KUALA LUMPUR-MALAYSIA
Ground Floor, Menara Darussalam, 12 Jalan Pinang, KUALA LUMPUR-MALAYSIA
Operating Hours
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7 days a week (including all public holidays)
Call Us: +603 555 HBSV
Email Us: info@hbsecuredvaults.com
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