With the worries about bank stabilities, many UK home owners are feeling the urge to keep their money inside their homes instead of in the banks. The sales of household safes have increased by 25 per cent in the past four week.

However they have been advised to find out how much money their home insurance policies will cover. The cash element of some policies, is there to cover any ‘loose change’ that may be in the house at any given time.

The insurance provider, esure has stated that they will only cover cash to the value of £500, even if it is placed in a high-security safe. Homeowners have been advised not to keep their finances in their houses, as in the event of a break-in, if their money is stolen, homes that are under-insured will have no means to get their money back, to put into a bank.

Mike Pickard, Head of Risk and Underwriting at esure home insurance, said: "People looking for a safe place for their money should look further than buying a safe for their loft or under-stairs cupboard. Although a good quality domestic safe is the perfect option for petty cash, perhaps some jewellery, and a spare set of car keys, it isn't a good home for your savings. Consider renting a safety deposit box if you have decided that you want a substantial sum of cash to hand."