The Safety Deposit Box is a box that is kept in a bank vault or inside a bigger safe. It is used to store valuable possessions in case of robbery, fire, or flood. The box can be from $10 to $500.
Cost Of A Safety Deposit Box
The cost of a Safety Deposit Box varies by bank, location, and size. The smallest box is 1x5 inches and the largest box is 10x10 inches. You must have a bank account to open a Safety Deposit Box. Some of the costs associated with opening a Safety Deposit Box in the United States include: -The cost of the box -The cost to set up an account with the bank -The monthly fee for using the box ..
Valuables To Be In A Safety Deposit Box
-Jewelry -Money -Papers -Photos -Personal Items ..
House documents- These are your property deed that shows you are the legal owner of that property. Once you want to sell your house, you will need the house documents. So your house documents can be kept in a Safety Deposit Box. Valuable Jewelry- Due to the risk of theft, you may decide to keep your valuable Jewelry in a Safety Deposit Box. The valuable jewelry may be inherited or a family heirloom you do not wish to misplace. Stock or bond certificates- These documents may be kept in a Safety Deposit Box in case of a fire outbreak or flood. You would not need your stock or bond certificate every time. Marriage certificates- A marriage certificate is not a document you need for a long time except if you want to change your name.
Things That May Not Be Kept In A Safety Deposit Box
There is no reason to keep cash, driver’s license, passport in a Safety Deposit Box.
Conclusion
Some banks in this present day see a Safety Deposit Box as an outraged way to keep valuable. Some of the banks in this present day do not provide those services.
Some of the valuable items you need now and then are not accessible to you when you need them.
The safety deposit box at the store is not insured. Purchase your insurance if necessary.
