Bank Safe Deposit Box vs. Home Safe

Share this post

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email

Bank Safe Deposit Box vs. Home Safe: What to Consider

When debating where to store valuables, such as money, personal documents, family heirlooms, and more, it can be tough deciding whether you want to install a home safe or use a bank safe deposit box for security. While they both have their advantages and shortcomings, you need to consider the following before making your choice.

When you are ready to install a home safe, contact Alford Safe & Lock. They have a wide selection of safes to choose from to meet your specific needs. Call us today at 225-387-5386 and ask about our home safes.

Bank Safe Deposit Box vs. Home Safe: Think About What You Want to Store

main in suit put money away in a bank safe deposit box over a home safeThe first thing you’ll want to consider when deciding between a bank safe deposit box or a home safe is what you want to store. When it comes to items you will need to access often, you are better off choosing a home safe vs. a bank safe deposit box.

Items include:

  • Extra cash
  • A passport
  • Spare keys
  • The original copy of your will

It is best to keep these important items in a safe at home where you can access them at any time without delays.

Also, when deciding between a home safe and a bank safe deposit box, keep in mind that some banks may forbid storing cash in a safe deposit box. You can store items you don’t need to access very often in a bank safety deposit box, such as:

  • Copies of birth certificates
  • Copies of property deeds
  • Car titles
  • U.S. Saving Bonds

One last thing to consider – if your items are stored in a bank safety deposit box, and they get damaged or stolen, they will not be insured by the Federal Deposit Insurance Corporation (FDIC).

Home safes can come in many shapes and sizes, allowing you to store many valuables all in one place. Whether you are looking to only store a handgun or hold several hunting rifles, cash, jewelry, and more, then a safe is your best bet. Alford Safe & Lock has a wide range of safes to fit your needs. Call and ask about our inventory when you’ve decided you want a home safe instead of a bank safe deposit box.

Bank Safe Deposit Box vs. Home Safe: Think About Emergencies

When choosing between a bank safe deposit box or a home safe, think about how often and quickly you’ll need to access your items in an emergency. Banks aren’t open at night, on holidays, and sometimes not even on weekends depending on the bank. You’ll only have limited access to your valuables when they are stored in a bank safe deposit box vs. a home safe in an emergency, such as a natural disaster.

Bank Safe Deposit Box vs. Home Safe: Safety Measures

man stores valuable in a home safer instead of a bank safe deposit boxSecurity measures are another major deciding factor when considering a bank safe deposit box vs. a home safe. As stated earlier, the FDIC does not insure the contents of a safe deposit box, nor does the bank itself, unless you’ve reached an agreement with your bank. So, valuable items stored in a safe deposit box, such as family heirlooms or your will, aren’t guaranteed to be protected against theft, fires, floods, or other damages that result in losses.

However, if you choose a home safe over a bank safe deposit box, you can get plenty of safety features to ensure your valuables are protected. For instance, you can install your safe into the floor or the wall and hide it behind a picture or the rug so potential intruders cannot find it easily. Bolting your safe to the floor or getting a safe with a drop rating of 35-feet will prevent thieves from breaking into your safe or carrying it out of your home. Fireproof safes will also protect your belongings from a fire.

When you choose a home safe over a bank safe deposit box, you are in control of the protection of your valuables and don’t have to stress whether they were stolen or damaged at the bank.

[Related: What You Should Put in a Fireproof Safe]

Contact Alford Safe & Lock for Safes that Will Give You Peace of Mind

When you’ve decided a home safe, and not a bank safe deposit box, is the better option to keep your valuables secure, contact Alford Safe & Lock. We’ve provided the Baton Rouge community with peace of mind for the last 75 years with our selection of safes and other security items. Call us at 225-387-5386 to keep your most prized and important possessions safe today.