Home Safe or Safe Deposit Box?
While both options offer you protection from fire and theft the primary difference between the two is accessibility. Any item stored in a safe deposit box can only be retrieved during banking hours. Items stored in your home safe are retrievable 24/7.
The expense of a home safe is a one-time purchase price and a safe deposit box requires a yearly fee.
What should I store in my home safe?
- Important and hard to replace documents (passports, social security cards, original copies of a will, birth, marriage and death certificates)
- Valuables such as jewelry and cash.
- Media data storage
- Small firearms
You may choose to utilize both a home safe and safe deposit box. Simply sort out what you have, how often you need it and that will help you determine what items will go where.
Which home safe should I purchase?
1.) Free standing safe. Various sizes, great for small items and documents. Depending on the weight and size, it could be removed by a burglar so be sure to place in an inconspicuous location. Fire proof options available.
2.) Floor safe. This safe is bolted to the floor making it more difficult to remove from the home. This option should also be placed in a well-hidden location. Fire proof options are available.
3.) Wall safe. Embedded into wall joints and concealed with artwork (just like you see in the movies). This type of safe offers a smaller amount of storage space and no fire protection. Other deeper models will require more space which can be hard to come by after a house is built. The design stage of a home is a good time to plan a large built-in wall safe.
Your big takeaway: Storing important documents in a filing cabinet and valuables in unlocked spaces does not provide a high level of protection, “play it safe” and consider a fire proof home safe or safe deposit box.