Monthly Archives: July 2016

Why a Safe Lock Quits Working Gradually

Here is a call we often get that drives me crazy:  “My safe quit working today and I can’t get it open.  The lock started acting up about four months ago and kept getting worse, but now it won’t open at all.”  The safe now needs to be drilled open and they complain about a bill of $300 to $400.

spline keys 012spline keys 002

The most common reason a combination lock goes bad gradually, and then fails completely, is a loose “spline key”.  When you turn the dial on a good combination lock a spindle transfers that movement to the lock body which is mounted on the inside of the door.  Three or four wheels and some other parts are held in place on the spindle by a tiny L-shaped spline key, pictured on left.  The other photo shows the inside of a Group 2 lock.  At the center of the “drive wheel” is the spindle.  It is grooved to hold the spline key (here pointing to 10:00) that in turn unites the wheels to the spindle.

When the spline key gets loose the wheels move, so they are no longer in sync with the dial.  The lock will not open consistently even when dialed accurately.  Keep trying to use the lock and the spline key will loosen up more, until it hits the inside of the lock cover or it falls out completely.  In either case you are locked out of your safe.

When your safe acts up, don’t put it off.  Avoid paying to drill it open by calling a competent safe technician immediately when you have problems.

Gun Safe or Burglary Safe: The Affect on Insurance

Customers always ask about insurance coverage when they have a gun safe or burglary safe.  There are lots of assumptions and questions, so I called several agents that handle home insurance, and here is what I was told.

One said that usually, if you have a burglary safe you can get a small savings on your annual insurance cost, probably around $10; the other disagreed.  Ask your agent.  The next paragraphs talk about coins in particular, but collections of guns, jewelry, watches, etc. will be similar.

They both said that, if you don’t have your coins scheduled or itemized on a rider, your policy will usually cover up to about $500, whether they are in a safe or not.  But they will only be replaced at face value, so numismatic value will not apply.  A penny that is worth $50 to a collector will still be reimbursed for $.01.  Value of the silver or gold content most likely will not count either.

If you have your collection appraised and covered on a rider, they will be covered up to the appraised value.  (My coin guy charges $50/hour to do written appraisals.)  When that value is based mostly on the gold or silver weight, however, be careful.  If the appraisal is done when gold is $1300 per ounce, and you are robbed when gold is worth $1600 per ounce, you will be reimbursed at the original $1300 value.  Cost of the insurance rider will probably run about $38/year for every $10,000 in value provided the collection is in a safe.  Cost will go up about $4 to $5 per $10,000 in value if there is no safe.

All kinds of variables affect insurance, including where you live, which insurance company you use, your loss history, etc.  For an extremely high value collection there may be better coverage with a TL-rated safe.  There might be specialized policies for high value collections, like there are for classic car collections.  Some items are irreplaceable because of sentimental value, like Great Grandpa’s old rifle or Grandma’s wedding ring.  To the insurance company they are probably only worth generic value.  I am certainly no expert.  Don’t make assumptions – ask your agent lots of questions.

You should always have insurance coverage on your valuables.   But the best protection against theft in the first place is to have a really good gun safe or burglary safe and good home security.  Don’t take a chance that you may not be properly reimbursed after a loss.  Prevent the loss!