April 14, 2012 10:42 am
At times, I have heard that lockers are being stolen in Bank. How is the customer protected? What will bank do under such instances? Will the customer be paid? Please let me know more on this.
I have tried to research on home contents policies of some companies, but they have specific limitations as regards jwellery. for e.g. in case of HDFC Ergo, they have capped it at Rs. 10000, some others like Bajaj and Oriental do cover jwellery without cap, but require a valuation certificate.
you can check out a good home contents insurance policy. The problem I faced when I was purchasing it for myself was, there is no-one to help you out – probably its not a lucrative business for agents!:)
Locker facility seems to be tidious thing….better of we any other secret ways of securing our gold at home.
Anybody –any idea?
Some banks offer insurance on your lockers.( Bank of Baroda has that option)
You can claim if any thing went wrong .
Ok. Thanks Ashal for the detailed clarification.
But how will the bank have a buyin on what we claim? The records that we maintain are for our internal purpose. Can bank also maintain such one?
Dear Sunil, Bank is not maintaining any record except your visit to operate the locker. Onus lies on you to prove that the things you are claiming lost in theft, were indeed in locker.
Yes, I don’t know how to prove.:-( Any thoughts?
Dear Sunil, this is the most tricky part of this locker query. It’s really hard to prove what was in the locker at the time of theft. Yes you can make a diary of your own for credit & debits made from the locker. Although it’s not foolproof but over the period if you are maintaining a record (please make a habit of maintaining such physical record) of such locker operations, you have a slight chance to prove what you have lost in the theft?
Dear Sunil, first of all please answer the basic query, how w’d you prove that the valuables were indeed kept in that locker?
What are the various options available for customers to prove the worth of valuables kept in locker?
Dear Sunil, Locker is a facility where it’s not possible to you as a customer, how much worth of things. ornaments, papers etc were lying at the time of theft? if you can prove that, Bank is liable to pay you. But it ‘ll not be by ordinary claim & you w’d have to fight it out in the court as theft ‘ll involve a police complaint. Also, please read the policy of individual bank for locker & such theft cases.
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