Safe deposit boxes have long been a popular choice for individuals and businesses seeking secure storage solutions for their valuable possessions and important documents. These boxes, typically housed within bank vaults, offer a range of advantages that provide peace of mind and protection. However, it is important to weigh these benefits against the potential drawbacks to make an informed decision. In this article, we will explore the pros and cons of using safe deposit boxes, allowing you to evaluate whether they are the right option for your storage needs.
- Double protection – any safe within semi-reasonable costs can be broken. Reserve Vault offers the unique proposition of your safe unit being within a vault that has physical, electronic and protocol protection barriers before anyone even gets to your safe unit. It’s a safe within a safe under constant surveillance.
- Secure receipt and delivery – Our bullion company partners deliver and receive goods to and from Reserve Vault so you don’t need to worry about security and attendance of this at your home.
- Fire protection – Reserve Vault is a low fire risk environment per se, offers fire resistant safe units, and has commercial building grade fire protection systems in any event.
- Insurance – Reserve Vault offers insurance underwritten by world leading insurers at rates reflective of our bulk policy. Contact us for details.
- Convenience – safes of any worth are extremely heavy and cumbersome units. This is relevant not just in taking delivery and installation but we urge everyone to check and consider the safe load capacity of the floor you place it on fully laden, how it is secured within the premises, and how well hidden the unit is. These factors often make it impractical.
- Environment – by virtue of our subterranean location we have a relatively stable environment should this be a factor for your stored goods.
- Convenience – Reserve Vault entry is by appointment only and not in your own home. We’d of course suggest that is also its biggest Pro when considered in the context of the value of your precious goods and how often you may intend to access your safe.
- Cost – If you are intending to hold your goods for a number of years then it will likely be cheaper to buy your own safe. You just need to consider the net cost of real security against the value of your goods. We often suggest looking at this in percentage terms which often puts into perspective the relatively minor cost of securing your goods.
- Personal safety – This to us is the biggest con of having your own safe versus Reserve Vault. It’s not a pleasant thought but the violent threat to you and your family is an unfortunate reality of being the holder of the ‘key’ to your valuables. Reserve Vault’s protocols see automatic security and police response to ANY out of hours access, so even we can’t get in if threatened!
Safe deposit boxes provide a secure and confidential means of storing valuable possessions, offering peace of mind and protection from disasters. They allow for organized storage and safeguarding of sensitive documents. However, limited access, associated costs, and potential vulnerability to legal proceedings should be carefully considered. Understanding the pros and cons will help you make an informed decision regarding the use of safe deposit boxes for your storage needs.
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