What items should not be stored in a safe deposit box?

When it comes to keeping valuable items safe, a safe deposit box provides one of the most secure options available. Protected by multiple layers of security and only accessible by the box owner or authorized personnel, safe deposit boxes are a great solution for storing things like jewelry, important documents, and other prized possessions.

However, not all items are suitable for storage in a safe deposit box. In fact, many things should be kept out of this type of storage altogether. In this article, we’ll take a closer look at what items should not be stored in a safe deposit box and explore some alternative storage options.

1. Cash

While it might seem like a good idea to store cash in a safe deposit box, doing so can actually be quite risky. Not only are banks not insured for the loss of cash stored in a safe deposit box, but if the money is needed unexpectedly, you may not be able to access it when you need it most. Additionally, if you keep cash in a box during a time of high inflation or when interest rates are low, it can actually end up losing value over time.

2. Firearms

Another item that should not be stored in a safe deposit box is a firearm. While many people might consider keeping a gun in a safe deposit box as a way of protecting their valuable investment, doing so is actually illegal in most states. In fact, federal law prohibits banks from accepting items that are regulated by the National Firearms Act.

3. Illegal Items

If you’re hoping to store illegal items or contraband in a safe deposit box, it’s important to know that doing so is not only illegal but also incredibly dangerous. Not only could you get caught with the illegal items in your possession, but if you’re storing them in a bank, there is also the risk that the bank could be robbed or the items could be seized by law enforcement.

4. Hazardous Materials

Storing hazardous materials in a safe deposit box is another big no-no. Not only is it illegal in most cases, but hazardous materials are also incredibly dangerous to store at all. Not only could they cause harm to you or others around you, but they could also cause damage to the box or the bank in general.

5. Anything You Need Immediately

Finally, it’s important to remember that the items you store in a safe deposit box may not always be accessible when you need them most. For example, if you store your passport in a box, you won’t be able to access it if you need to travel at short notice. Similarly, if you store important documents in a box, you may not be able to retrieve them if you need to use them for a legal or financial transaction.

So, what should you store in a safe deposit box?

Now that we’ve looked at the items you shouldn’t store in a safe deposit box let’s dive into the things that are safe to store there.

1. Important Documents

One of the most common things that people choose to store in a safe deposit box is important documents. This can include items like birth certificates, marriage licenses, wills, and other legal documents. By keeping these items in a safe deposit box, you can ensure that they’re protected from theft, fire, or other damage.

2. Valuable Items

Another popular option for safe deposit box storage is valuable items like jewelry, coins, or other collectibles. By storing these items in a safe deposit box, you can ensure that they’re protected from theft or damage.

3. Backup Hard Drives and Memory Sticks

If you have important electronic files that you want to keep safe, storing them on a backup hard drive or memory stick and then keeping them in a safe deposit box is a great option. This way, you can ensure that your files are protected from things like viruses or other computer problems.

4. Rare or Expensive Art

If you have rare or expensive art or other collectibles, storing them in a safe deposit box can help ensure their protection. Just be sure to check with your insurance provider to ensure that your items are adequately covered in the event of loss or damage.

5. Rare Coins

Finally, for coin collectors, storing rare coins in a safe deposit box can help prevent damage and minimize the risk of theft.

In Conclusion

When it comes to keeping your prized possessions safe, a safe deposit box can be an excellent option. However, it’s important to be mindful of what items can and cannot be stored in such a box. By keeping the above information in mind, you can help ensure that your valuables are kept safe and secure for years to come.