Yes, but only up to limits. In Germany, gold kept at home is insured under contents insurance (Hausrat) as valuables (Wertsachen), usually capped at 20 percent of the sum insured for all valuables together. Outside a safe, gold is as a rule also limited to EUR 20,000. Is your gold worth more? Then you need a safe with a higher limit, an insured safe deposit box or a separate policy.
Published premiums and limits from terms and tariffs.
Example
Typical range
Safe deposit box insurance, sum EUR 5,000
EUR 12.99 a year
Safe deposit box insurance, sum EUR 20,000
EUR 26.79 a year
Safe deposit box insurance, sum EUR 100,000
EUR 238 a year
Contents EUR 100,000, limit 20 percent
up to EUR 20,000 for all valuables together
Gold in a certified safe
often EUR 30,000 to 50,000 or more insurable
As of October 2026.
Limits differ by tariff, your terms decide.
The extra premium for a higher valuables limit in contents insurance is a guide value from our
quoting practice.
Worked example
Couple with gold coins worth EUR 40,000 in the wardrobe
Their contents sum insured is EUR 70,000 and they have no safe. Burglars steal the gold.
Value of the gold coins
EUR 40,000
Valuables limit (20 percent of EUR 70,000)
EUR 14,000
Limit without a safe under the tariff
EUR 20,000
Payment (the lower limit applies)
EUR 14,000
Loss they carry themselves
EUR 26,000
Just over a third of the value is insured. A safe deposit box with its own EUR 40,000 cover or a safe with a raised limit would have closed the gap.
Why gold kept at home has limited cover
Contents insurance treats gold as valuables, together with cash, jewellery, coins, stamps, art and antiques. For all valuables together many tariffs pay at most 20 percent of the sum insured.
If the gold is not in a recognised safe, a second limit applies. For jewellery, coins and items made of gold or platinum the terms as a rule set EUR 20,000, some tariffs set other amounts. The lower of the two limits always applies.
Contents sum insured
20 percent for valuables
Gold without a safe at most
EUR 40,000
EUR 8,000
EUR 8,000
EUR 70,000
EUR 14,000
EUR 14,000
EUR 100,000
EUR 20,000
as a rule EUR 20,000
EUR 150,000
EUR 30,000
as a rule EUR 20,000
What a safe changes for your gold
Many terms define a safe as a locked multi wall steel cabinet of at least 200 kilograms or a steel cabinet built into the wall. Gold kept inside benefits from much higher limits.
Depending on the safe's security grade, EUR 30,000 to 50,000 or more is often insurable. A small furniture safe that is only screwed down usually does not qualify. Ask your insurer which grade it requires before you buy.
Rising gold price, growing gap
Gold has risen sharply in price in recent years. If you bought coins some years ago and never adjusted your contents cover, you are probably above the valuables limit today.
If the overall sum insured is considerably too low, the insurer pays proportionally under section 75 of the Insurance Contract Act (VVG). Check the current value of your gold once a year and adjust both the sum and the valuables limit.
Gold in a bank safe deposit box
Gold in a safe deposit box (Bankschließfach) is not automatically fully insured. Contents insurance often covers valuables in the box only up to a separate maximum. Also ask your bank how far it is liable itself.
Separate safe deposit box insurance costs EUR 26.79 a year for a sum of EUR 20,000 and EUR 238 for EUR 100,000 in one published tariff. It covers burglary, robbery, fire, water and other perils not excluded.
When you need to change nothing
If you only have a few gold coins and their value together with jewellery and cash stays well below your valuables limits, your gold at home is adequately insured.
Keep receipts, certificates and photos safely outside your home. Without proof of quantity and fineness, a claim becomes difficult.
Step by step
Add up gold, jewellery and cash and compare the total with your valuables limit.
Look up the limit outside a safe in your terms.
Decide: safe at home, safe deposit box or separate valuables insurance.
Keep receipts, certificates and photos away from home.
Adjust values to the gold price every year.
Checklist
Value of all valuables known, not just the gold
Limit without a safe checked in your own tariff
Safe meets weight or installation and the required grade
Safe deposit box contents insured separately
Proof of quantity and fineness available
Transport between bank and home considered
Common mistakes
Hiding gold in a cupboard and assuming the full contents sum applies
Never passing the higher gold price on to the insurance
Buying a light furniture safe that is not recognised as a safe
Renting a safe deposit box without insuring its contents
Questions and answers
Frequently asked
Is gold in a safe at home fully insured?
Only up to the valuables limit for the safe.
It is higher than without a safe, but not unlimited, and depends on the safe and the tariff.
Does contents insurance pay if I lose gold coins?
No.
Loss and simple theft without a break in are not covered by contents insurance.
Is the purchase price or today's gold price paid?
The replacement price at the time of the loss counts, up to the limits in your policy.
Is silver insured in the same way as gold?
Items made of silver also count as valuables.
Depending on the tariff, other individual limits may apply to silver.
Who can help me choose?
Norman Nammert arranges cover as an insurance broker (Versicherungsmakler).
The insurer pays the commission, so advice is free for you.
