The policy offers a cover against various risks including fire, earthquake, burglary, holdup, infidelity by a bank staff or any act of terrorism. Apart from jewellery and valuables, one can also insure important documents kept in a locker as an add-on cover. The policy can be sold both as a retail and a group policy for banks.
Bank lockers are considered to be safest place for valuables. Despite the tight security, however, there have been incidences of burglary in the country. Lesser known fact is that the locker hiring agreement does not cover compensation in case of such untoward incidents. The Bank Locker Protector policy bridges the gap offering protection to valuables stored in a bank locker.