Why Do You Need a Safety Deposit Box?

Safety Deposit BoxYou keep your money in a savings account for security purposes. How about your other valuable items like important documents, jewelry, and rare collectibles? Do you keep them inside your home?

Did you know that your home is not the safest place to store these items because they are more susceptible to theft, flood, fire, and other natural disasters? To keep them safe, you can store them in a safety deposit box for safekeeping. The Palmetto Citizens Federal Credit Union enumerates the top reasons you should invest in a safety deposit box.

Prevents theft or misplacement of your items

When you leave important papers and jewelry lying around in your home, you leave them open to burglars. The worst thing that can happen when your valuables go missing is that the paperwork that proves your ownership disappears with them. Such paperwork can contain the serial numbers or documents that prove your identity.

However, theft is not the only thing you should worry about. You may also end up misplacing these important documents that are very difficult to replace or get a copy of. On the other hand, when you choose to store your valuables in a safety deposit box, you can rest assured that your valuables are extremely safe and secured.

Protects your items from flood, fire, and other natural disasters

Another benefit of a safety deposit box is that the container itself is water resistant and fire retardant. This means that should there be a flood or a fire outbreak, your valuables will remain safe inside the safety deposit box.

Faster and easier execution of your will

Keeping all of your documents in one place helps your executor carry out your wishes more efficiently after you pass away. This is because he or she no longer needs to look for them one by one.

A safety deposit box is the best place to store valuable documents and belongings. However, when you do use this as a storage facility, make sure that you are only keeping the documents you don’t need right away such as birth certificates, marriage certificates, deeds and titles, stock certificates, citizenship papers, and investment, credit and bank account information.