One of the most common questions from clients considering a safe deposit box in Dubai is a straightforward one: what happens if something goes wrong?
The answer depends entirely on the provider. Some safe deposit box facilities offer no insurance as standard. Others include limited coverage. Vintage Vaults includes complimentary insurance underwritten by Lloyd's of London as part of every account — with significantly higher coverage for Premium clients.
What Is Included as Standard?
Every Vintage Vaults account — Standard and Premium — includes complimentary insurance coverage.
Standard (Silver Card) accounts: Coverage up to AED 1,000,000 included as standard.
Premium (Black Card) accounts: Coverage up to AED 2,000,000 included as standard, extendable to AED 5,000,000 on request.
There are no additional fees for the base coverage level. It is included in the membership.
Who Underwrites the Insurance?
All Vintage Vaults insurance is underwritten through Lloyd's of London — the world's leading specialist insurance market, with over 335 years of history and a global reputation for insuring the uninsurable.
For clients storing high-value assets, the identity of the underwriter matters. A Lloyd's policy carries a standard of credibility and enforceability that a generic contents policy does not.
What Does the Insurance Cover?
The insurance covers the contents of your safe deposit box — valuables, documents, precious metals, jewellery, and other items stored within the box.
Specific coverage terms, conditions, and any applicable exclusions are provided at the time of account opening. The Vintage Vaults team is available to walk clients through the policy in detail before they commit.
Can Coverage Be Extended?
Yes. For Premium (Black Card) clients, coverage can be extended beyond the included AED 2 million up to AED 5 million on request. This is particularly relevant for clients with jewellery collections, precious metal holdings, or high-value document portfolios that exceed the standard limit.
For Standard clients, the team can advise on upgrading to Premium if higher coverage is a priority.
What About Home or Travel Insurance?
Some clients assume their home insurance or a separate insurance policy covers items held in a safe deposit box. In practice, many home insurance policies exclude items stored outside the home, or impose sub-limits on high-value items that make the coverage inadequate.
A dedicated safe deposit box insurance policy — included with Vintage Vaults membership — removes this ambiguity. Your items are covered specifically for their location, which is the vault..
How to Access Coverage?
Coverage is automatic upon opening an account. No separate application is required for the included coverage level. For extended coverage, speak to your relationship manager (Premium clients) or contact the Vintage Vaults team directly.
For full details on insurance coverage at Vintage Vaults, visit the insurance page or speak to the team.
