What To Store (And What Not To Store) In A Safe Deposit Box

Safe deposit boxes provide a secure and private way to store valuable possessions and important documents. They are a way for individuals to protect their valuable items from theft, loss, or damage. However, not everything belongs in a safe deposit box. In this article, we will explore what items are ideal for safe deposit box storage and what items are better kept elsewhere.

What to Store in a Safe Deposit Box

Important Documents

• Legal documents: Birth certificates, passports, marriage certificates, divorce decrees, and adoption papers.
• Property-related documents: Deeds, titles, mortgage papers, and lease agreements.
• Financial documents: Insurance policies, wills, trusts, and power of attorney documents.
• Business-related documents: Incorporation papers, contracts, and intellectual property documents.

Valuables

• Precious metals and gemstones: Gold, silver, diamonds, and other valuable jewellery.
• Collectibles: Rare coins, stamps, baseball cards, and antique items.
• Family heirlooms: Sentimental items with significant personal or historical value.
• Irreplaceable items: Original artwork, photographs, and other valuable possessions that cannot be easily replaced.

Digital Storage Devices

• External hard drives or USB flash drives containing important data, documents, or family photos.
• Backup copies of digital records, such as financial statements, tax returns, and personal records.

What Not to Store in a Safe Deposit Box

Items Needed in an Emergency

Avoid storing items that may be required in an emergency, such as original medical directives, healthcare proxies, or power of attorney documents. These documents should be easily accessible to authorised individuals in case of urgent situations.

Illegal Items or Dangerous Materials

It goes without saying that storing illegal items, firearms, explosives, drugs, or hazardous materials in a safe deposit box is strictly prohibited. Such items can cause legal troubles and put others at risk.

Sentimental Items

While family heirlooms and sentimental items hold significant personal value, they might be better stored in a location where they can be easily accessed and enjoyed by family members. Consider alternative storage options that offer greater accessibility.

In summary, safe deposit boxes provide secure and reliable storage for important documents, valuable items, and digital data. They are ideal for storing legal papers, property deeds, insurance policies, precious metals, collectibles, and irreplaceable items. However, it is crucial to remember that emergency items, illegal or dangerous materials, and sentimental items are best stored elsewhere. By using a safe deposit box appropriately, you can ensure the safety and protection of your valuable possessions and important documents.