Theft/fire insurance private locker

Salaam Wa3laikoum,

I want to rent a private locker for storage of my value assets. They offer an insurance when something happens (fire, stolen). There is a standard insurance, you can insure your assets for a higher price. Is this insurance haram or halal?

Barak Allahfeekoum

@Mufti_Faraz_Adam @Mufti_Billal

Wa alaykum salaam,

According to the majority of scholars and the global Islamic Finance standards, conventional insurance is not permissible.

They should be liable for things that they are responsible for when it comes to safekeeping.

Allah knows best

1 Like

Barak Allahfeek Mufti,

So in this case i can’t rent a locker if it not includes the standard insurance for theft or fire. I cant hire a locker without an insurance with it into the contract. This is for al the companies that offer lockers. What do i have to do in this case? Is it permissible for me too rent a locker because of darrora or is this not applicable?

@Mufti_Faraz_Adam @Mufti_Billal