What Can You Store in a Security Deposit Box? A Comprehensive Guide
Everybody has their own valuables, whether it be heirlooms, jewelry, or even precious documents, and finding the right place to store them can be difficult. For one, you could always store it in a safe space in your home, but then again, external factors can affect its security. At times like these, one of the best storage solutions is to acquire security deposit boxes. The question is: What can you store in a security deposit box? In today’s article, we’ll let you in on a comprehensive guide so you can maximize your usage of security deposit boxes.
What is a security deposit box?
A security deposit box is a secure container where you can store your prized possessions. Otherwise called a safety deposit box (SDB), this service is offered by banks or financial institutions and is stored in the bank’s vault to add an extra layer of security for your goods. As far as ownership goes, your security deposit box belongs entirely to you, but you can add other people as co-lessors in it, like your spouse or someone you trust.
When it comes to access, you can do so with a key provided by the bank or financial institution. This main key of yours also has a security “guard key” entrusted to the bank personnel so they can access your box when needed.
What can I store in a security deposit box?
Because of how useful it is, many people opt for using security deposit boxes as storage for their valuables. Here’s a list of items you can store inside your security deposit box:
Jewelry, and other valuables. If you have a prized collection, like precious stones or pearl jewellery that you would fight tooth and nail to keep safe, then these valuables are better stored in a security deposit box.
Important documents. Papers like your birth certificate, marriage license, or passport can be stored here—even your last will and testament.
Family heirlooms. Family heirlooms don’t always have to be jewelry or precious stones; these could be trinkets with sentimental value that are handed down from one generation to the next, photographs, or even letters you wish to cherish for years to come.
Financial and business documents. Besides your birth certificate, other important documents you can store in security deposit boxes are trusts and insurance policies, as well as contracts or even licenses.
Things you should NOT store in a security deposit box.
Since we’ve covered the things you can store in security deposit boxes, here’s a short list of things you should NOT store within them.
Cash. Your money may be valuable, but cash, especially uninsured cash, shouldn’t be stored in a security deposit box.
Perishable items. Items that fall under this list include food, medicine, or any other item that could negatively affect the box’s structural integrity, like solvents or chemicals.
Items that you need to check constantly. Finally, it’s best if you do not store items that you need to check or use frequently, because it will only cost you time and effort to go back and forth to retrieve it from the bank and store it back again.