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– Money in the mattress is not just a concept. Very few actually keep their money here, according to insurance company If.
Now they warn that they don’t have too much money lying around the house. There is a limit to how much content insurance covers in the event of exposure to home theft or robbery:
– The limit for compensation in case of cash theft is NOK 10,000 with If. Amounts above this simply shouldn’t be kept at home, but kept in a bank account, says If’s communications manager Sigmund Clementz.
However, it is not uncommon for people to have larger amounts of this lying around the house:
– We have cash thefts between NOK 50,000 and 100,000 a few times a year. Sometimes higher amounts. A sum of NOK 20,000-30,000 is by no means unusual when thieves first find money, says Clementz.
The amount of money that different content insurances from different insurance companies cover varies from insurance company to insurance company. For example, Gjensidige’s content insurance covers cash up to NOK 20,000. Framtind covers cash up to NOK 15,000.
What applies to you, you should check with your insurance company.
In about one in three home burglaries where thieves find money, they get away with amounts over NOK 10,000, estimates If.
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Although cash use is declining and only accounts for around 4% of payments, there is still a good amount of cash in circulation: according to Norges Bank the value of the outstanding liquidity is approximately NOK 35 billion.
Clementz tells Vi.no that they can’t say anything about which population groups more often have larger amounts of money lying around the house than others.
– The cliché that she is a 75-year-old lady who has put aside all the money she has received to pawn bottles over the years does not hold up. There are many different groups that hold cash at home and that may have a little too much cash at home, for various reasons, says Clementz.
But if we look at who use cash moreamong others, seniors and immigrants point out, according to Norges Bank.
Norwegian security authorities also recommend having some cash on hand for our emergency.
– But I strongly advise against keeping large sums of money at home. This is the first thing the criminals for profit seek. In Norway they look for money in the hallway drawer, bedside drawer, bathroom, kitchen cabinet or bed. Although the money in the mattress is primarily a linguistic image, there are actually people who still hide the money here, says Clementz.
The advice is to put the money in a fireproof wardrobe, if you have larger quantities at home, and therefore not in the mattress.
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A lot of foreign currency
Although it is becoming less and less frequent, If still receives reports of stacks of banknotes carrying tens of thousands of crowns stolen. And according to Clementz, it’s now less about Norwegian kroner and more often about euros:
– One of the reasons is that Norwegians have euros around the house because we often travel to Europe, where we need cash, and then we have leftover money, which we think we can use on our next trip. There is less and less Norwegian cash in drawers and mattresses – and more and more euros.
As a rule, a few thousand Swedish kronor, euros, dollars or other currencies are stolen in a burglary. Clementz adds that of course there may be other reasons for keeping larger amounts at home, such as receiving money as a gift. The most common explanation by insurance customers when large sums of money are reported stolen from home is that the money is to be used for or comes from the purchase of a used car.
– Cash is like fly paper
The fact that thieves find cash in your home if they accidentally choose your home is one thing. But the insurance company also warns that having a lot of money in the house can actually make you a target:
– Keeping a lot of money at home will act as a flypaper for thieves. Because sadly the experience is such, when it comes to thefts from people, that when there were rumors in the local community that the person in question had a large amount of money in the house, a theft or robbery ensued, he says. Clementz.
If you have large sums of money lying around, you are advised to contact the bank and seek advice.
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You must prove the amount in cash
If you were to be exposed to cash theft at home and have to report it to the insurance company for compensation: what proof do you need to have to actually have this cash?
– Our starting point is that we have faith in our customers, so we want to the maximum extent possible that the customer can prove they have this money. This will be the case with all types of theft, says Clementz.
He goes on to say they have an upper limit.
– This means you can’t come and say you have been robbed of NOK 100,000 – and ask when these can be transferred to the account – so we don’t buy it, he says, adding that you also need to report the theft to the police. And that both the insurance industry and the prosecution are well trained in reporting insurance fraud, which is something that is taken seriously.
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