Demand for deposit boxes rises on fear of burglaries

Experts advise homeowners and businesses to store valuables away from their premises

According to Seamus Fahy,  co-founder of Merrion Vaults, most security experts agree that home safes do not cut the risk of theft. Photograph: iStock

According to Seamus Fahy, co-founder of Merrion Vaults, most security experts agree that home safes do not cut the risk of theft. Photograph: iStock

 

Fear of burglaries is prompting homeowners and business people to store valuables away from their properties.

Merrion Vaults, which rents safe deposit boxes to consumers and businesses in Dublin and several UK cities, is seeing demand increasing as advisers tell clients to store valuables off their premises.

According to Seamus Fahy, the company’s co-founder, most security experts agree that home safes do not cut the risk of theft, as burglars will find them. “They will either vandalise the house or threaten you,” he said.

Mr Fahy noted that the best advice was to keep valuables off homes and business premises. “ That’s why we are seeing an increased demand for safe deposit boxes,” he added.

Overnight storage

Businesses, including shop-owners, use the company’s vaults to store valuables overnight.

More organisations are also using the facilities to store confidential papers, contracts and back-up computer drives, Mr Fahy added.