Home fire safe or safe deposit box?

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NYCaviator
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Home fire safe or safe deposit box?

Post by NYCaviator »

What do you have and why? Just for storing important documents.

The SD box is incredibly inconvenient with COVID branch closures (have to make an appointment, etc.). If you have a home safe, what kind? Is a small $50 sentry enough for important documents or do you have a big $2k fire/burglary safe?
Townline Lake
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Re: Home fire safe or safe deposit box?

Post by Townline Lake »

I have a Liberty 40 Gun Safe that weighs about 900 pounds and is anchored to the concrete floor in our basement. The will and other important documents are in there and my adult daughter who is executor of our will knows the safe combination.
ddurrett896
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Re: Home fire safe or safe deposit box?

Post by ddurrett896 »

Huge gun safe, then put all my documents and backup drives inside a smaller portable safe that sits inside the large safe.
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anon_investor
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Re: Home fire safe or safe deposit box?

Post by anon_investor »

ddurrett896 wrote: Sat Mar 06, 2021 1:18 pm Huge gun safe, then put all my documents and backup drives inside a smaller portable safe that sits inside the large safe.
Is the small safe also fire proof?
squirm
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Re: Home fire safe or safe deposit box?

Post by squirm »

Curious what documents are needed to be kept in a fireproof box, or vault.
LittleMaggieMae
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Re: Home fire safe or safe deposit box?

Post by LittleMaggieMae »

How often are you putting stuff in and out of this fire proof safe? Is making an appointment to get to a safe deposit box all that complicated? My local banks that have safe deposit boxes have long had times when the boxes were available and then if you wanted access outside those hours you called ahead to make an appointment so someone would be there who could get you to your box. The pandemic didn't change my access to my box all that much - I did have to go and pull some documents out of it (and replace them) since the pandemic started. I think I visit the "box" maybe once every couple of years.

I can see if you travel and have a passport that you might want to keep that securely at home (versus all the trips to and from the box at the bank)

What I keep in the box at the bank: my SS card, my original Birth Certificate, my expired pass port, my parents birth and death certificates, my mom's and grandma's wedding ring sets and another set of rings (and the appraisals of the rings I had done for fun as the rings aren't anything special - other than being representative of the "times" when the couples wed. ), there's some old gold coins - the tradition back in the 20's and 30's was to give a "gold coin" (usually a circulated $5 or $10 ) for milestones (birth, baptism, first communion, and so on) my parents continued the tradition by off loading their "special occasion" gold coins on us kids. my car title is in the box and the barely filled out Baby Book with my shots (dates scratched out and redone - cause it got filled in well after the fact. A progress (first step) sort of noted (yeah, she took her first step - don't remember it but it happened). I'm the youngest. I'm just happy I got a book that my mom actually wrote my name on. I have a friend (also youngest) and all they've got is an untouched book (never written in/on)while their older sibs have all sorts of books/stuff from that period in their live - loving filled out by proud doting parents. :)

I use to keep my paper EE and I bonds until I converted them to a Treasury Direct account.

The box costs me a whooping $35 a year. When I'm dead - it's part of the "Albatross" my executor will have to deal with. :)
clip651
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Re: Home fire safe or safe deposit box?

Post by clip651 »

LittleMaggieMae wrote: Sat Mar 06, 2021 1:57 pm How often are you putting stuff in and out of this fire proof safe? Is making an appointment to get to a safe deposit box all that complicated?
One thing you want 24/7 access to in case of emergency is health care POA.

I have unexpectedly been in the ICU with a relative on a Saturday night. It would not have been good to have to wait until Monday a.m. to have our first possible access to that document. Strokes, heart attacks, car accidents and whatnot don't always happen during banker's hours, nor do they happen with advance notice.
Capsu78
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Re: Home fire safe or safe deposit box?

Post by Capsu78 »

Both. Originals in the SDB, including passports if no upcoming travel plans. Typically, the bank is more well monitored, including video and importantly better fire suppression than my home.
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Re: Home fire safe or safe deposit box?

Post by Capsu78 »

clip651 wrote: Sat Mar 06, 2021 2:07 pm
LittleMaggieMae wrote: Sat Mar 06, 2021 1:57 pm How often are you putting stuff in and out of this fire proof safe? Is making an appointment to get to a safe deposit box all that complicated?
One thing you want 24/7 access to in case of emergency is health care POA.

I have unexpectedly been in the ICU with a relative on a Saturday night. It would not have been good to have to wait until Monday a.m. to have our first possible access to that document. Strokes, heart attacks, car accidents and whatnot don't always happen during banker's hours, nor do they happen with advance notice.
...Very good point.
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Flobes
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Re: Home fire safe or safe deposit box?

Post by Flobes »

NYCaviator wrote: Sat Mar 06, 2021 12:14 pm The SD box is incredibly inconvenient...
In some jurisdictions, a safety deposit box is sealed as soon as bank receives notice of an owner's death. Joint owners and other signators are locked out.

When my father died quite suddenly, a friendly bank CSR called my mother and told her to go immediately to the safe deposit box because it would imminently be sealed at end of day, by law. I clearly remember my mother's sense of urgency at an emotionally raw time, and we went to the bank on the way home from choosing the coffin. She emptied the box. The next week, we went to the bank with a death certificate to request adding me as a signer. We were told, "The box is sealed."

This was in NYC, OP's apparent domicile. Incredibly inconvenient, indeed!
NYCaviator wrote: Sat Mar 06, 2021 12:14 pm If you have a home safe, what kind? Is a small $50 sentry enough for important documents...?
Yes I have a Sentry safe, purportedly firesafe and waterproof. Ample for my important documents, safekeeping both those I might need myself (like original birth certificate) and those my executors will require (like the will).
For me it's about access and consolidation of priority paperwork, and not about thieves absconding with it. In a strategy I learned here on the forum, my safe is unlocked and the key is taped to the top.
Camper2000
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Re: Home fire safe or safe deposit box?

Post by Camper2000 »

It is a really good idea to take a picture of all of your big items in your house and store them in a fire deposit box. My sister and brother-in-law in laws house burned down and they learned this after the fact. You also want to store receipts for large items that you own in the fire safe box. The pictures and receipts should be for items like your furniture, computer, tv and appliances such as stove and refrigerator. If your house burns down, the insurance company asks for a list of everything you own and the price that it costs, so you can be reimbursed. It is very difficult when everything you own is gone and you have to try to go back and remember every item you owned and what it cost.

One saving grace is that my parent’s had bought us all a fire safe box before this happened. Their fire safe box fell through the floor into the basement. Their important documents we’re saved which was a huge relief for them. Make sure the fire safe box is locked at all times. Otherwise it could come open if it falls through the floor and the papers will burn. Documents we have in it are retirement files, list of passwords, marriage certificate, will, social security, life insurance, land title, passport, emergency money, home insurance, engagement ring, insurance, car title, medical records. We have a small fire safe box. We could use a larger one.
GmanJeff
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Re: Home fire safe or safe deposit box?

Post by GmanJeff »

Another Liberty Safe owner here, also a Lincoln 40. It weighs 954 lbs and is supposed to protect contents for 110 minutes at 1200 degrees. Useful for storing valuables of different kinds in addition to documents, and certainly more convenient to access than a safe deposit box.

If you use a small fire safe or chest like those you mentioned made by Sentry, and do not store valuables in it, it might be prudent to leave the key in the lock if it is key-operated, or to visibly tape the combination to it if it has a combination lock. Allowing easy access may prevent a burglar from making off with the chest/safe and your documents in the mistaken belief that the chest/safe contains valuables. Some can also be bolted to the floor or wall just like larger safes, but many people don't actually do that, making such containers easily portable if targeted by a criminal.
TLC1957
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Re: Home fire safe or safe deposit box?

Post by TLC1957 »

FYI...Next time you go visit your safe deposit box check to see how far off the floor your box is located. Why?? Our bank had a fire on the 4th floor with the bank on the 1st floor. The fire was significant and burned off the top floor of the building. The building did not have an automatic fire sprinkler system. The water damage to the floors below was significant with the bottom 18” of the safe deposit boxes water damaged. As a retired insurance loss prevention expert I requested a box at least 4’ of the floor we had no damage. The water came into the room from under the vault door and seeped into room.


For folks with safes in your basement a significant fire in your home the firefighting water is going to flood your basement.
HomeStretch
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Re: Home fire safe or safe deposit box?

Post by HomeStretch »

There was a lot of discussion about the pros and cons of storing a will (an important document) in a safe deposit box or a home fireproof safe as well as links to specific safes in this thread:
viewtopic.php?f=11&t=337890
rich126
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Re: Home fire safe or safe deposit box?

Post by rich126 »

Just curious. Would most places require a physical document or would photos of such documents be sufficient?

Seems like the easiest thing is to have copies of everything via photo on a photo or cloud, etc. Of course I don't know the legal realities. And no matter what one does, something could always come up if a physical document is required (person out of town, suddenly is incapacitated just before you have issues, etc.).
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michaelingp
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Re: Home fire safe or safe deposit box?

Post by michaelingp »

Camper2000 wrote: Sat Mar 06, 2021 2:14 pm It is a really good idea to take a picture of all of your big items in your house and store them in a fire deposit box.
Good advice, but perhaps a little outdated for most people. Current advice, I think, would be to take the same pictures, but store them digitally in the cloud.
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JoeRetire
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Re: Home fire safe or safe deposit box?

Post by JoeRetire »

NYCaviator wrote: Sat Mar 06, 2021 12:14 pm What do you have and why? Just for storing important documents.

The SD box is incredibly inconvenient with COVID branch closures (have to make an appointment, etc.). If you have a home safe, what kind? Is a small $50 sentry enough for important documents or do you have a big $2k fire/burglary safe?
I have both a small inexpensive fire-proof box at home and a safety deposit box.

I keep just a few things at home, and the important/expensive things that don't need to be accessed often in the safe deposit box.
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clip651
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Re: Home fire safe or safe deposit box?

Post by clip651 »

TLC1957 wrote: Sat Mar 06, 2021 2:39 pm FYI...Next time you go visit your safe deposit box check to see how far off the floor your box is located. Why?? Our bank had a fire on the 4th floor with the bank on the 1st floor. The fire was significant and burned off the top floor of the building. The building did not have an automatic fire sprinkler system. The water damage to the floors below was significant with the bottom 18” of the safe deposit boxes water damaged. As a retired insurance loss prevention expert I requested a box at least 4’ of the floor we had no damage. The water came into the room from under the vault door and seeped into room.


For folks with safes in your basement a significant fire in your home the firefighting water is going to flood your basement.
Hmph, good point. Our bank has the safe deposit boxes securely in the basement. Flood risk, and/or water from fighting a fire risk. Always something else to consider!
ddurrett896
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Re: Home fire safe or safe deposit box?

Post by ddurrett896 »

anon_investor wrote: Sat Mar 06, 2021 1:23 pm
ddurrett896 wrote: Sat Mar 06, 2021 1:18 pm Huge gun safe, then put all my documents and backup drives inside a smaller portable safe that sits inside the large safe.
Is the small safe also fire proof?
Yes
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Re: Home fire safe or safe deposit box?

Post by ddurrett896 »

squirm wrote: Sat Mar 06, 2021 1:41 pm Curious what documents are needed to be kept in a fireproof box, or vault.
Cash, birth certificate, ss card, passport, marriage license, will
gtd98765
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Re: Home fire safe or safe deposit box?

Post by gtd98765 »

I bought the First Alert fire chest in this article: https://www.nytimes.com/wirecutter/revi ... ment-safe/

Fortunately, I have not yet had to verify that its claimed fire protection abilities work. I only have important documents like wills & medical directives in here, and the children have the combo.
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Re: Home fire safe or safe deposit box?

Post by BolderBoy »

NYCaviator wrote: Sat Mar 06, 2021 12:14 pm What do you have and why? Just for storing important documents.

The SD box is incredibly inconvenient with COVID branch closures (have to make an appointment, etc.). If you have a home safe, what kind? Is a small $50 sentry enough for important documents or do you have a big $2k fire/burglary safe?
Both.

SDB contains hard drives (in Ziplock bags). I digitize everything so it has most everything. I swap out those drives with more current ones 2-4x/yr. I have an extra signer on the SDB, just in case. This serves as my "off site storage and backup".

Home safe (Gardall) I've had for almost 40 years is for fireproof reasons. Weighs 250 pounds. Spare checkbooks, car keys, originals of documents (which have already been scanned).
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Re: Home fire safe or safe deposit box?

Post by anon_investor »

ddurrett896 wrote: Sat Mar 06, 2021 6:38 pm
squirm wrote: Sat Mar 06, 2021 1:41 pm Curious what documents are needed to be kept in a fireproof box, or vault.
Cash, birth certificate, ss card, passport, marriage license, will
The birth certificate, SS card, passport, marriage license can all be replaced.
manatee2005
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Re: Home fire safe or safe deposit box?

Post by manatee2005 »

anon_investor wrote: Sun Mar 07, 2021 3:42 pm
ddurrett896 wrote: Sat Mar 06, 2021 6:38 pm
squirm wrote: Sat Mar 06, 2021 1:41 pm Curious what documents are needed to be kept in a fireproof box, or vault.
Cash, birth certificate, ss card, passport, marriage license, will
The birth certificate, SS card, passport, marriage license can all be replaced.
We should lock outrselves in safes because human life can't be replaced. :D
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anon_investor
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Re: Home fire safe or safe deposit box?

Post by anon_investor »

manatee2005 wrote: Sun Mar 07, 2021 5:07 pm
anon_investor wrote: Sun Mar 07, 2021 3:42 pm
ddurrett896 wrote: Sat Mar 06, 2021 6:38 pm
squirm wrote: Sat Mar 06, 2021 1:41 pm Curious what documents are needed to be kept in a fireproof box, or vault.
Cash, birth certificate, ss card, passport, marriage license, will
The birth certificate, SS card, passport, marriage license can all be replaced.
We should lock outrselves in safes because human life can't be replaced. :D
Like a panic room? :beer
ddurrett896
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Re: Home fire safe or safe deposit box?

Post by ddurrett896 »

anon_investor wrote: Sun Mar 07, 2021 3:42 pm
ddurrett896 wrote: Sat Mar 06, 2021 6:38 pm
squirm wrote: Sat Mar 06, 2021 1:41 pm Curious what documents are needed to be kept in a fireproof box, or vault.
Cash, birth certificate, ss card, passport, marriage license, will
The birth certificate, SS card, passport, marriage license can all be replaced.
Sure they can, but sitting in DMV with kids for hours sucks.
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anon_investor
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Re: Home fire safe or safe deposit box?

Post by anon_investor »

ddurrett896 wrote: Sun Mar 07, 2021 5:43 pm
anon_investor wrote: Sun Mar 07, 2021 3:42 pm
ddurrett896 wrote: Sat Mar 06, 2021 6:38 pm
squirm wrote: Sat Mar 06, 2021 1:41 pm Curious what documents are needed to be kept in a fireproof box, or vault.
Cash, birth certificate, ss card, passport, marriage license, will
The birth certificate, SS card, passport, marriage license can all be replaced.
Sure they can, but sitting in DMV with kids for hours sucks.
That wait will feel extra terrible when the DMV tells you they can't replace your birth certificate, SS card, passport or marriage license... :twisted:
manatee2005
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Re: Home fire safe or safe deposit box?

Post by manatee2005 »

anon_investor wrote: Sun Mar 07, 2021 5:11 pm
manatee2005 wrote: Sun Mar 07, 2021 5:07 pm
anon_investor wrote: Sun Mar 07, 2021 3:42 pm
ddurrett896 wrote: Sat Mar 06, 2021 6:38 pm
squirm wrote: Sat Mar 06, 2021 1:41 pm Curious what documents are needed to be kept in a fireproof box, or vault.
Cash, birth certificate, ss card, passport, marriage license, will
The birth certificate, SS card, passport, marriage license can all be replaced.
We should lock outrselves in safes because human life can't be replaced. :D
Like a panic room? :beer
Why isn't panic room the whole house? Why only have 1 room dedicated to survival.
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anon_investor
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Re: Home fire safe or safe deposit box?

Post by anon_investor »

manatee2005 wrote: Sun Mar 07, 2021 10:28 pm
anon_investor wrote: Sun Mar 07, 2021 5:11 pm
manatee2005 wrote: Sun Mar 07, 2021 5:07 pm
anon_investor wrote: Sun Mar 07, 2021 3:42 pm
ddurrett896 wrote: Sat Mar 06, 2021 6:38 pm

Cash, birth certificate, ss card, passport, marriage license, will
The birth certificate, SS card, passport, marriage license can all be replaced.
We should lock outrselves in safes because human life can't be replaced. :D
Like a panic room? :beer
Why isn't panic room the whole house? Why only have 1 room dedicated to survival.
I think I saw some one who did that on Dooms Day Preppers. It looked expensive... that is probably why no one does it.
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NYCaviator
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Rethink safe deposit box?

Post by NYCaviator »

[Thread merged into here --admin LadyGeek]

We have a box at a bank and pay ~$45/year. We rent from a local bank that doesn't require you have a checking account (our bank doesn't even offer safe deposit boxes) We typically get a paper invoice once a year, but this year it never came, and I didn't even think about it until I got a final notice letter.

We only keep documents in there like copies of insurance policies, birth certificates, deeds, original titles, mortgage documents, etc. The only reason I keep it is because I figured it was safer in the event of a fire or flood. From what I've read, most home safes are a total joke and will completely burn up in a fire or your paper documents will melt.

Is it worth keeping a safe deposit box, or is there a viable alternative to protect (almost) irreplaceable original documents?
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Re: Rethink safe deposit box?

Post by livesoft »

Never had one. Have so-called fireproof boxes for documents, but never had a fire. I think these standard fire boxes are plastic with concrete liners, so in a fire, the plastic melts and seals the box closed. But in this day and age I think our documents are replaceable.
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Re: Rethink safe deposit box?

Post by prd1982 »

NYCaviator wrote: Mon Jun 19, 2023 8:31 pm
Is it worth keeping a safe deposit box, or is there a viable alternative to protect (almost) irreplaceable original documents?
What documents do you have that are almost irreplaceable?
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windaar
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Re: Rethink safe deposit box?

Post by windaar »

I would not have my most important papers in some remote building that could easily be closed or unavailable when I want them.
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Vulcan
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Re: Rethink safe deposit box?

Post by Vulcan »

prd1982 wrote: Mon Jun 19, 2023 8:46 pm
NYCaviator wrote: Mon Jun 19, 2023 8:31 pm We have a box at a bank and pay ~$45/year. We rent from a local bank that doesn't require you have a checking account (our bank doesn't even offer safe deposit boxes) We typically get a paper invoice once a year, but this year it never came, and I didn't even think about it until I got a final notice letter.

We only keep documents in there like copies of insurance policies, birth certificates, deeds, original titles, mortgage documents, etc. The only reason I keep it is because I figured it was safer in the event of a fire or flood. From what I've read, most home safes are a total joke and will completely burn up in a fire or your paper documents will melt.

Is it worth keeping a safe deposit box, or is there a viable alternative to protect (almost) irreplaceable original documents?
What documents do you have that are almost irreplaceable?
We use it for foreign diplomas and passports, foreign and US birth certificates, naturalization certificates, house deed, car titles, insurance policies, etc, as well as family photos and other data backups, and some old family documents. US passports are stored in a simple home safe (not fire proof). They are easy to replace if needed using the documents in the bank safe.

Our local bank withdraws the fee from checking automatically once a year (I keep just enough money there for two years' worth of safe deposit box fees). Perhaps the bank that OP rents the box from also offers free checking and can auto-withdraw the fees, so they don't have to worry about missing a payment and having the contents of their box removed and handed over to the state.
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bombcar
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Re: Rethink safe deposit box?

Post by bombcar »

Find a bank that will let you pay X years in advance?

But honestly there's not much anymore that is really irreplaceable; and it can be annoying to access for your heirs after death.

I'd go with something waterproof and fireproof in or around your property. A safe built into the basement wall or garage floor is probably as secure as a safe deposit box.
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NYCaviator
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Re: Rethink safe deposit box?

Post by NYCaviator »

prd1982 wrote: Mon Jun 19, 2023 8:46 pm
NYCaviator wrote: Mon Jun 19, 2023 8:31 pm
Is it worth keeping a safe deposit box, or is there a viable alternative to protect (almost) irreplaceable original documents?
What documents do you have that are almost irreplaceable?
Mostly titles, birth certificates, name changes, etc. Not irreplaceable, but it would be a major headache to get them replaced.
Doctor Rhythm
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Re: Rethink safe deposit box?

Post by Doctor Rhythm »

No safety deposit box, no safe, nothing of great value that could fit in either that doesn’t also exist more safely as bits. Wonder if this is generational—one group thing measures safety with millimeters of steel, the other with distinct layers of backup.
Last edited by Doctor Rhythm on Mon Jun 19, 2023 9:59 pm, edited 2 times in total.
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Re: Rethink safe deposit box?

Post by ClassII »

NYCaviator wrote: Mon Jun 19, 2023 9:18 pmMostly titles, birth certificates, name changes, etc. Not irreplaceable, but it would be a major headache to get them replaced.
I think a reasonably well built home safe that's fireproof is going to be just fine for stuff like this. Home fires are unlikely and a home fire that destroys a safe is even more so. And if the absolute worst happens, well you got yourself a little work to replace those documents. If it gets to that point I don't think the hassle of replacing them will be your primary concern anyway.
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Re: Rethink safe deposit box?

Post by Invest4lt »

Yes, I would rethink it and most likely dump it. Regarding birth certificates, in the US most, if not all, are now available online. I ordered mine and it arrived within a week. I imagine if you needed to submit your birth cert you would order a new copy and use that, anyway.
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gavinsiu
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Re: Rethink safe deposit box?

Post by gavinsiu »

Mines are use for offsite backups. Technically I could use the cloud too but with safety deposit box I can store physical stuff like backup yubikey.
Goal33
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Re: Rethink safe deposit box?

Post by Goal33 »

Waste of $45 for this stuff IMO
dh
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Re: Rethink safe deposit box?

Post by dh »

I appreciate this thread. My safety deposit box rental fee is due on July 1. I too, am debating the need. The most important docs I have in the box are:
My original social security card
My car title
My original birth certificate

I have a fireproof box at home. If I stored then at home and something "bad" happened to them and they were lost, could I replace them? I think I am going to get rid of the box and store them at home. However, I will keep reading the follow up posts in the next few weeks before I make a final decision.
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Re: Rethink safe deposit box?

Post by FrugalInvestor »

Many years ago I had a safe deposit box. I didn't like the inconvenience of accessing it when I needed something out of it so changed to a smallish bolted down fire safe in my home. Because it is much more convenient I keep more things in the safe that would otherwise be somewhere (unsecured) in the house. No solution is perfect but I much prefer the home safe to the safe deposit box.
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Re: Home fire safe or safe deposit box?

Post by LadyGeek »

NYCaviator - In order to provide appropriate advice, it's best to keep all the information in one spot. I merged your update back into the original thread. If you have any questions, ask them here.

(Thanks to the member who reported the post and provided a link to this thread.)
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Re: Home fire safe or safe deposit box?

Post by Glockenspiel »

I just have a small $100 fire-proof safe in our master bedroom closet. Could someone pick it up and take it? Yes. But it's supposedly fire-rated which is the nicer feature to have.

The documents I keep in there are mainly original birth certificates, car titles, social security cards, passports, wedding license, mortgage documents, an external hard drive with photos, etc. Mostly things that could be replaced but would be a pain to have to do so.
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Re: Home fire safe or safe deposit box?

Post by bombcar »

I find that my fire safe is more to have a location where I know things will be (it doesn't always work) than to actually protect the things inside (because they can all be replaced with more or less annoyance).

For people keeping receipts inside a fire safe, be aware that fire can raise the temperature inside them high enough to destroy thermal paper.

Also everyone should be aware that fire safes are nothing to a dedicated criminal. The lock picking lawyer basically assures us that nothing is safe if he's after you, but this is easy enough anyone could do it: https://www.youtube.com/watch?v=2guvwQvElA8
gavinsiu
Posts: 4543
Joined: Sun Nov 14, 2021 11:42 am

Re: Home fire safe or safe deposit box?

Post by gavinsiu »

My thoughts

Safe
* It might not survive the fire if the fire is intense.
* A safe is more likely to be taken by the burglar during a break-in because it is perceived to contain valuables.
When you get a safe, make sure you get one with a UL certificate.

Safety Deposit boxes
* You could also be expose to fire, too. Commercial buildings often have better fire supression.
* Less likely to be burgularize. Someone can't break into a bank and take the box.
* Errors can occur and the bank could mix up the boxes. Banks have liability protection to prevent them from being blamed.
* Banks could close and result in your stuff being locked out for a bit.
carne_asada
Posts: 212
Joined: Sat Aug 03, 2019 7:38 am

Re: Home fire safe or safe deposit box?

Post by carne_asada »

No system is fail proof. My parents had all sorts of valuables and important documents in a SD box and the bank was robbed, some of their items got either damaged ( SD boxes dumped out all over a wet floor as water was somehow used as part of the break-in) or were stolen. It took forever to get items back and they were first evidence and then you had to claim your items from the general mess that was on the floor.
carne_asada
Posts: 212
Joined: Sat Aug 03, 2019 7:38 am

Re: Home fire safe or safe deposit box?

Post by carne_asada »

gavinsiu wrote: Tue Jun 20, 2023 12:36 pm My thoughts

Safe
* It might not survive the fire if the fire is intense.
* A safe is more likely to be taken by the burglar during a break-in because it is perceived to contain valuables.
When you get a safe, make sure you get one with a UL certificate.

Safety Deposit boxes
* You could also be expose to fire, too. Commercial buildings often have better fire supression.
* Less likely to be burgularize. Someone can't break into a bank and take the box.
* Errors can occur and the bank could mix up the boxes. Banks have liability protection to prevent them from being blamed.
* Banks could close and result in your stuff being locked out for a bit.
One more issue with boxes - you may unintentionally not be paying the box fee (or a bank error makes it look like you are not paying) and the contents get liquidated and escheated.
Broken Man 1999
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Joined: Wed Apr 08, 2015 11:31 am
Location: West coast of Florida, near Champa Bay !

Re: Home fire safe or safe deposit box?

Post by Broken Man 1999 »

I have a safe deposit box which holds mostly replacable documents, though some content is irreplacable for personal reasons.

I collect coins, and once you remove American Buffaloes from their outer packaging, you can store a fair amount of gold coins in my box, more than I have, at the moment. I could stash them around the house, but these aren't bullion coins, they are proof coins, so the condition of the coin is important. I don't think a fire would leave my coins in their current condition.

Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven then I shall not go." - Mark Twain
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