Do You Need a Safe Deposit Box?

Many banks — including Community Bank of Tri-County — offer secure, on-site safe deposit boxes in which you can safely store important documents and valuable possessions for an affordable annual rate.

For both individuals and businesses, a safe deposit box protects irreplaceable possessions from loss, theft and destruction. The contents remain confidential — you are the only one with access to your safe deposit box.

While anyone can purchase a fireproof “lock box” from the nearest office supply center, a bank safe deposit box — usually located within a vault or larger safe — provides protection from theft and from fires, floods or other disasters that could threaten your home or place of business.

There’s just one thing to remember. Even though you may rent a safe deposit box from a bank, the contents are not FDIC insured. They are your personal possessions, not bank deposits.

Think inside the box!

What should you put in your safe deposit box?

For individuals the answer could be anything from birth certificates and wills, to marriage certificates and income tax returns. Or, it could be family heirlooms, coins, stock certificates, irreplaceable photos or items of great sentimental value. If it’s something you use or refer to regularly, it’s probably best to keep the originals where you can access them quickly, and put a copy in your safe deposit box instead.

For businesses your box could protect an extra set of keys, contracts, blueprints and any number of critical or confidential documents that could disrupt your business if they went missing.

How much peace of mind would a safe deposit box bring you?

 

 

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