How Much Does a Safe Cost

Protecting your valuables is mandatory for every thinking person whether it is for your business or your personal belongings. Doing so not only grants you better peace of mind but also helps you avoid potential liabilities such as loss and lawsuits.

To date, keeping your valuables in a security safe is one of the best and most reliable methods in keeping your valuables from being compromised. There are different types of safe that you can choose from, offering various level of security (from basic to premium) and features. In this article, not only will we tackle your different options, we will also answer the most pertinent question in your mind: how much does a safe cost?

Understanding Your Security Needs

Before we go any further, we must address the level of security that you will be needing. Doing so will help you determine your ideal safe and the costs that you will be dealing with. To do so, the first step is to assess what you want to protect your valuables from. Do you want protection from theft, fire, or both? It is important to know that though all safes are virtually theft-proof, some types offer better protection from natural forces such as fire, flood, or earthquakes. Determining how much does a safe cost will be influenced by these factors.

Next, determine the type of lock that you are comfortable with. There are different types of locking mechanisms that are available in the market right now – the most sophisticated ones naturally require a larger investment. So do you want you safe to have a simple key lock, a number combination, a fingerprint scanner, or perhaps a combination of these?

Another factor to consider is your desired location and method of safe installation. While most people are content with simply putting their safes in a corner of their bedroom, you might also opt for extra protection by installing it in a special shelf or cabinet of your choosing. Putting it in a hidden part of or underneath your floor is also an option. Keep in mind, though, that wall or floor safe installation costs will be added to your initial budget should you push through with these additional precautions.

Lastly, you will have to look into the fine print of warranties and guarantees. While security safes are designed to be virtually impenetrable, they are also not invincible. A well-prepared and properly equipped thief, for instance, is still capable of going through your defenses. The best way to deal with this is to avail warranty for your security safe. Most manufacturers offer deals that not only cover their products quality but also provide monetary compensation (in full or otherwise) for any losses incurred while using their safe. If your safe manufacturer is offering such an option, consider availing one. You may have to pay additional costs, but having a backup plan for your valuables is definitely a great idea.

Keeping Track of Your Options

From different safe types to varying security grades, there is no doubt there is a myriad of different options for security safes out in the market today. Considering the factors given above, how much does a safe cost?

Let’s start with home safes. Home safes offer quality protection for simple security needs like housing prized jewelry or important documents. A standard mechanical home safe will cost around $500 to $900, while high-end safe with numerical code locks will cost a little more than $3,000.

For small office safes, the figures run a little bit lower. This is mostly due to the fact that office safes house mostly confidential documents and nothing more. A high-end office safes can be acquired with a budget of $900 while options on the lower end of the spectrum generally cost less than $200.

If you want a safe with a biometric lock, your budget should definitely be higher. High-grade fingerprint safes are usually priced at around $2,000 to $4,000; meanwhile, standard quality ones will cost at least $700.

Underfloor safes, as mentioned earlier, provide extra protection to your valuables as they can be hidden either under your floorboards or a customized cement flooring. The average rate for these is around $1,500 though you will also have to shoulder the floor safe installation cost as determined by your contractor. Based on the current market value, however, typical floor safe installation costs run anywhere from $750 to $1,000.

If you’re looking into protecting your valuables from burglars AND forces of nature, a fireproof safe is your best bet. Different brands offer various fire resistance rates, however, and those that offer higher rates (90 minutes, tops) are priced more than those with lower resistance (30 minutes). Average price for safes with 30-minute resistance is $1,200 while those with 90-minute resistance require around 7-$8,000 investment.

Computing for Your Cash Rating

But before you get overwhelmed by the sheer amount of factors and option to consider, here’s a great tip. Safes are usually categorized based on their “cash ratings”. A safe’s cash rating is simply the net worth your valuables divided by 10. Say you want to store valuables worth $10,000. Your best options then are safes that are within the range of $1,000 and above. Easy, right?

Don’t worry, this isn’t some arbitrary measuring tool that we’ve come up with. Cash ratings are also used to determine the “grade” testing laboratories use to classify security safes. For instance, a safe with a $10,000 cash rating is called a “Grade 1 Safe” while a $100,000-worth safe is called “Grade Five”. The highest grade given to a safe is “Grade 13” and these are for safes with a cash rating of three million dollars or more.

Choosing the best type of safe for your security needs might seem like a daunting task as it involves going through a wide range of options, poring over fine prints, and considering multiple factors. However, purchasing the right safe will definitely have long-term significant benefits. Hopefully, with this guide, you are now better prepared to make that big decision. Best of luck!