Safe / Safe Box Recommendations?

[riverside1320]

Hi all - any recommendations on safes or safe boxes? Current use is for small, non-firearm items (jewelry, passports, etc.). Any advice would be appreciated!

[Pyramid44]

First, two questions

1. Do you need something that is fireproof ?
2. Do you need something that is waterproof ?

If you need either feature ( to have your items survive a house fire along with all the water used by the fire department to put it out), then look at either Sentry or Honeywell lock boxes.

Here is an entry point to the Sentry products: https://www.sentrysafe.com/products

And some for Honeywell
https://honeywellsafes.com/collections/ ... waterproof
https://honeywellsafes.com/collections/ ... ater-proof

Some items can be found locally at a Staples / Office Depot. Otherwise Amazon delivers to your front door.

There are a wide variety of items available depending the amount of space you need and your budget.

I use the document sized ones to keep paperwork and frequently used small valuables. We have a large safe bolted in our garage with a longer fire period since we are in a national forest with wildfires (Liberty Safe).

[TLC1957]

Why not a bank safety deposit box? In our area, Philadelphia, about $40 a year. As a firefighter I do not place my valuable papers or items in my home. I have been to too many fires where the home is heavily damaged with feet of water in the basement. If you live in a rural area with no fire hydrants the FD has to bring water to the site in tanker trucks. It is a long process to set up and have adjacent FD send tankers to the fire. This results in additional damage to the home.

If you go with the bank safety deposit box choose 1 midway off the floor, say 3’or 4’ banks have water damage too from broken pipes or fire sprinkler water during a fire.

[hmph]

Could you say which banks in Philly offer SDBs for $40 a year?

Ours is more like $110 a year.

[canderson]

Could you say which banks in Philly offer SDBs for $40 a year?

Ours is more like $110 a year.

Not on Philly but in PA- we are Members First members and it’s $25/year.

[TLC1957]

Could you say which banks in Philly offer SDBs for $40 a year?

Ours is more like $110 a year.

https://www.stbank.com/locations/

We are in the Philadelphia suburbs.

We went with S&T since it is walking distance from our home. You need an account with the bank to have a box so we have $200 in a savings account. Our bank is Ally Bank.
Definitely call around to other banks the price does vary depending on the bank.

[cubs1999]

While I use a bank safety deposit box, I also have a supposedly fireproof and waterproof safe for stuff I need accessible at home. Figure this might survive a small fire but if whole building burns down, I guess I'm screwed.

Banks.can catch fire. I've heard this and realize it's a small chance but the story below made me see how it is possible. This is in my area:
https://abc7chicago.com/chase-bank-in-b ... /12770145/

[shunkman]

My lawyer told me to never put ANYTHING in a safe deposit box.

[TLC1957]

My lawyer told me to never put ANYTHING in a safe deposit box.

Do you mean in a bank or your home? Where did they suggest you store important documents?

[TLC1957]

While I use a bank safety deposit box, I also have a supposedly fireproof and waterproof safe for stuff I need accessible at home. Figure this might survive a small fire but if whole building burns down, I guess I'm screwed.

Banks.can catch fire. I've heard this and realize it's a small chance but the story below made me see how it is possible. This is in my area:
https://abc7chicago.com/chase-bank-in-b ... /12770145/

We actually had a fire in the bank where my safety deposit box is located!! The bank was on the 1st floor the fire on the 3rd &4th floors. Water in the vault was minimal believe me I checked while on the site as a firefighter. They moved our safety deposit box to another bank for 1 year while they rebuild the building and installed an automatic fire sprinkler system in the building. Yea stuff happens.lol

[masteraleph]

My lawyer told me to never put ANYTHING in a safe deposit box.

Anything, or anything that might need to be accessed quickly by another person? There’s a good argument for not having estate docs, etc inside, because once the individual passes they may not be accessible for a while, whereas you may very well want will and trust documents available right away.

[MtnTravel]

My lawyer told me to never put ANYTHING in a safe deposit box.

Why? You should never put passports or estate planning documents in there, but deeds, titles, and other important documents are safer in a SDP than anywhere else.

[MtnTravel]

Hi all - any recommendations on safes or safe boxes? Current use is for small, non-firearm items (jewelry, passports, etc.). Any advice would be appreciated!

What's your goal in getting a safe? If it's to prevent burglary, unless you have a commercial grade burglary safe (think TL-15) professionally installed and bolted into concrete, it's not going to prevent theft. If it's to protect documents from fire/water, check out the higher-end Honeywell document chests. They have excellent UL fire ratings, are waterproof, and don't cost too much. We have one and leave it unlocked. I'm not trying to kid myself that it would keep a burglar out, but it is great for protecting wills, passports, etc. from fire damage.

Do a quick google search of Sentry safes and you'll see that no only are they bogus for burglary protection, they aren't that fire resistant either. The same is true for most "safes" marketed to the residential market. They are light enough that the burglary will simply walk off with it and then smash it open in their own time.

[hudson]

My lawyer told me to never put ANYTHING in a safe deposit box.

Anything, or anything that might need to be accessed quickly by another person? There’s a good argument for not having estate docs, etc inside, because once the individual passes they may not be accessible for a while, whereas you may very well want will and trust documents available right away.

I use a safe deposit box because those who need the contents can get them after I pass without any wait or red tape.
Bottom Line: It depends on local laws.

[TLC1957]

My wife and I have access to the box, both of us have signed the agreement and sometimes she goes or I will go depending on who is free, so no problem getting in…lol

[shunkman]

My lawyer told me to never put ANYTHING in a safe deposit box.

Do you mean in a bank or your home? Where did they suggest you store important documents?

He said don't use BANK safe deposit boxes. He suggested using a fire-resistant lock box at home. And his law office securely stores notarized copies of my Will, POA, etc. My other important documents can be reproduced without too much effort. Also, if one dies, valuables stored in safe deposit boxes are subject to State laws pertaining to probate, inheritance taxation, etc.

[cubs1999]

While I use a bank safety deposit box, I also have a supposedly fireproof and waterproof safe for stuff I need accessible at home. Figure this might survive a small fire but if whole building burns down, I guess I'm screwed.

Banks.can catch fire. I've heard this and realize it's a small chance but the story below made me see how it is possible. This is in my area:
https://abc7chicago.com/chase-bank-in-b ... /12770145/

We actually had a fire in the bank where my safety deposit box is located!! The bank was on the 1st floor the fire on the 3rd &4th floors. Water in the vault was minimal believe me I checked while on the site as a firefighter. They moved our safety deposit box to another bank for 1 year while they rebuild the building and installed an automatic fire sprinkler system in the building. Yea stuff happens.lol

I take it none of your stuff was damaged? I believe the safety deposit box is covered by home insurance but as has been said in other threads, jewelry etc have low limits of coverage unless you specifically buy an inland marine policy to coverage say Jewelry or have some sort of rider on home insurance. It my mentioned in a thread I started that some get discounts for keeping their valuables in safety box and only taking them out x times per year.

The video news story mentioned people stopped by the scene of the chase fire inquiring about their safety deposit boxes.

Besides money laundering concerns, another reason bank documents say not to put cash in the boxes are you get no coverage for cash.

Edit:
Watch some more coverage if this fire as I've used that bank to deposits, ATM, etc a few times and know exactly where it is. I guess car crashed after using drive thru and severed gas line. Fire went on for several hours as it took Nicor gas a.few hours to dig 5 feet to shut off gas.

I imagine there has to be heavy damage from this.

Makes me think about the insurance threads. Unless this woman who crashed had an umbrella, I guess this will exceed liability limits. I wonder if this would exceed my $300k property damage plus $1M umbrella. Fortunately, no injuries including the driver as there was time to evacuate everyone.

[riverside1320]

Thanks for the recommendations all. Was not considering a safety deposit box, but will certainly avoid in the future after this thread!

[riverside1320]

First, two questions

1. Do you need something that is fireproof ?
2. Do you need something that is waterproof ?

If you need either feature ( to have your items survive a house fire along with all the water used by the fire department to put it out), then look at either Sentry or Honeywell lock boxes.

Here is an entry point to the Sentry products: https://www.sentrysafe.com/products

And some for Honeywell
https://honeywellsafes.com/collections/ ... waterproof
https://honeywellsafes.com/collections/ ... ater-proof

Some items can be found locally at a Staples / Office Depot. Otherwise Amazon delivers to your front door.

There are a wide variety of items available depending the amount of space you need and your budget.

I use the document sized ones to keep paperwork and frequently used small valuables. We have a large safe bolted in our garage with a longer fire period since we are in a national forest with wildfires (Liberty Safe).

Both of these seem like great options - thanks!

[retire2022]

op

check this safe found out on the ground: https://www.youtube.com/shorts/LQGFsYOqLnE

[daw007]

My lawyer told me to never put ANYTHING in a safe deposit box.

Do you mean in a bank or your home? Where did they suggest you store important documents?

He said don't use BANK safe deposit boxes. He suggested using a fire-resistant lock box at home. And his law office securely stores notarized copies of my Will, POA, etc. My other important documents can be reproduced without too much effort. Also, if one dies, valuables stored in safe deposit boxes are subject to State laws pertaining to probate, inheritance taxation, etc.

I've heard similar issues with bank safety deposit boxes. See here:

https://www.nytimes.com/2019/07/19/busi ... theft.html

[DoubleComma]

Ok, I guess I’m naive to this subject.

What documents would I have that I should protect in a safety deposit box or a fireproof/waterproof safe?

My original wet signature estate plan documents; trust, will, POA etc are held in my lawyers office…in their giant waterproof/fireproof professionally built and install safe.

I have copies at home, but if they were destroyed it would be easy to get duplicates.

Our paid for home title is recorded with the county as well as the various mortgage releases.

Similarly, birth certificates, marriage licenses, etc all held in the county office … and I have certified copies at home.

Passports can be re-issued.

So what am I missing? What these critically important documents that I need to guard and protect that aren’t easily reproduced by the county office, federal govt or my lawyer.

[tibbitts]

Ok, I guess I’m naive to this subject.

What documents would I have that I should protect in a safety deposit box or a fireproof/waterproof safe?

My original wet signature estate plan documents; trust, will, POA etc are held in my lawyers office…in their giant waterproof/fireproof professionally built and install safe.

I have copies at home, but if they were destroyed it would be easy to get duplicates.

Our paid for home title is recorded with the county as well as the various mortgage releases.

Similarly, birth certificates, marriage licenses, etc all held in the county office … and I have certified copies at home.

Passports can be re-issued.

So what am I missing? What these critically important documents that I need to guard and protect that aren’t easily reproduced by the county office, federal govt or my lawyer.

Well, the "county office" is often multiple county offices hundreds/thousands of miles away so there's that.

Having lost my Passport I can say that I would have much preferred not to. Even my lost social security card was significantly difficult to replace - worse because I did it during Covid.

You may have created your own estate planning documents so unless the attorney is your buddy, (s)he'd be unlikely to want them in his/her vault. Actually the attorney might hang onto your d-i-y documents for you if (s)he also happened to be the executor and beneficiary, but that's another story.

[tibbitts]

Why not a bank safety deposit box? In our area, Philadelphia, about $40 a year. As a firefighter I do not place my valuable papers or items in my home. I have been to too many fires where the home is heavily damaged with feet of water in the basement. If you live in a rural area with no fire hydrants the FD has to bring water to the site in tanker trucks. It is a long process to set up and have adjacent FD send tankers to the fire. This results in additional damage to the home.

If you go with the bank safety deposit box choose 1 midway off the floor, say 3’or 4’ banks have water damage too from broken pipes or fire sprinkler water during a fire.

In general safe deposit boxes are becoming much more difficult to obtain, and many banks are closing out existing boxes. I think it's good to have one if you can, but they may not be a practical alternative in 2023.

[TacoLover]

My understanding having researched it a while back is …
No safe is burglarproof.
No safe is fireproof.
The more that you spend the more secure your safe is and the longer it will take before a burglar or fire accesses the contents of the safe.
Purchasing from any store that’s not a safe is a gimmick device mostly to keep prying eyes and hands (eg small children from guns or snooping guests) but are not serious instruments.
If you’re really looking for serious protection go to your local safe shop and they will be happy to give you an education about them.

[DoubleComma]

Ok, I guess I’m naive to this subject.

What documents would I have that I should protect in a safety deposit box or a fireproof/waterproof safe?

My original wet signature estate plan documents; trust, will, POA etc are held in my lawyers office…in their giant waterproof/fireproof professionally built and install safe.

I have copies at home, but if they were destroyed it would be easy to get duplicates.

Our paid for home title is recorded with the county as well as the various mortgage releases.

Similarly, birth certificates, marriage licenses, etc all held in the county office … and I have certified copies at home.

Passports can be re-issued.

So what am I missing? What these critically important documents that I need to guard and protect that aren’t easily reproduced by the county office, federal govt or my lawyer.

Well, the "county office" is often multiple county offices hundreds/thousands of miles away so there's that.

Having lost my Passport I can say that I would have much preferred not to. Even my lost social security card was significantly difficult to replace - worse because I did it during Covid.

You may have created your own estate planning documents so unless the attorney is your buddy, (s)he'd be unlikely to want them in his/her vault. Actually the attorney might hang onto your d-i-y documents for you if (s)he also happened to be the executor and beneficiary, but that's another story.

Got it, thanks. I thought I was missing something, but really I think I’m just not concerned about losing these documents.

At least is CA you can go to your local county office order documents from any other CA county. Takes a few days to get it, but I don’t have to travel.

Our estate plan is not DIY.

A safe or safety deposit box wouldn’t prevent the loss of of a passport or social security card. If they were in the box they wouldn’t be lost, the losing happens when not in the box.

So I guess it boils down to what one considers important documents and how much hassle you will put up with to get replacements if necessary.

[tibbitts]

Ok, I guess I’m naive to this subject.

What documents would I have that I should protect in a safety deposit box or a fireproof/waterproof safe?

My original wet signature estate plan documents; trust, will, POA etc are held in my lawyers office…in their giant waterproof/fireproof professionally built and install safe.

I have copies at home, but if they were destroyed it would be easy to get duplicates.

Our paid for home title is recorded with the county as well as the various mortgage releases.

Similarly, birth certificates, marriage licenses, etc all held in the county office … and I have certified copies at home.

Passports can be re-issued.

So what am I missing? What these critically important documents that I need to guard and protect that aren’t easily reproduced by the county office, federal govt or my lawyer.

Well, the "county office" is often multiple county offices hundreds/thousands of miles away so there's that.

Having lost my Passport I can say that I would have much preferred not to. Even my lost social security card was significantly difficult to replace - worse because I did it during Covid.

You may have created your own estate planning documents so unless the attorney is your buddy, (s)he'd be unlikely to want them in his/her vault. Actually the attorney might hang onto your d-i-y documents for you if (s)he also happened to be the executor and beneficiary, but that's another story.

Got it, thanks. I thought I was missing something, but really I think I’m just not concerned about losing these documents.

At least is CA you can go to your local county office order documents from any other CA county. Takes a few days to get it, but I don’t have to travel.

Our estate plan is not DIY.

A safe or safety deposit box wouldn’t prevent the loss of of a passport or social security card. If they were in the box they wouldn’t be lost, the losing happens when not in the box.

So I guess it boils down to what one considers important documents and how much hassle you will put up with to get replacements if necessary.

Very true. For example I live in one of the few states where I can't simply request a replacement SS card online. And like many people I own property in multiple states, and have a paperwork trail in various states around the U.S. (with some people that would be different countries.)

Actually the documents I kept in a small fireproof safe at home were stolen in a burglary because it wasn't secured well enough - my fault.

[K72]

For years I debated getting a safe for the house, but could never decide on make/model, where to securely put it, how to manage the combination, etc. A year ago I decided to find a local bank that still had safe deposit boxes available (not so common anymore) and luckily found one I could literally walk to. Both DW and I have keys, and last Christmas we took our kids in and got them authorized to access it. All they need is the key (and they know where it is). So far I'm pleased with the setup.