...or for £200 a year, try a strongbox in the vault

HOMEOWNERS who feel safer storing valuables away from their property might consider renting a safe deposit box.

Unfortunately, most high street banks no longer offer a bank vault service, but there are still some specialist providers.

The South East-based challenger Metro Bank offers safe deposit box facilities from £200 a year for a 7.5cm by 12.5cm by 54.5cm locker – and up to £675 a year for a 25.5cm by 25.5cm by 54.5cm safe box. Royal Bank of Scotlandowned Coutts operates a safe house for its customers in the Strand, Central London.

It charges from £35 a year for an ‘envelopesized’ space up to £350 for large items, ‘perhaps a sculpture or painting’.

The State Bank of India typically charges between £150 and £200 a year to use its safe deposit boxes.

Specialists such as Metropolitan Safe Deposits offer security at two vaults in London – Knightsbridge and St John’s Wood.

These start at £95 a year for a 4.5cm by 11cm by 41cm security box and go up to £2,403 for a safe space measuring 64cm by 61cm by 46cm.

Valuables kept in bank vaults are not usually covered under home insurance but you may be able to pay extra – perhaps £50 a year – for your treasures to be covered outside the home as well.

The bank will offer top security but not insure your items.

Under Financial Conduct Authority rules that are designed to stamp out money laundering, safe deposit box users must provide a photo and proof of identity to rent a box.

It is also a good idea to tell family and inform a solicitor to ensure that any valuables are also mentioned in any will.