Chat with us, powered by LiveChat

Tips for Getting a Safe Deposit Box

If you are considering renting a safe deposit box, know that it is a step in the right direction – for you and your assets. However, as you are preparing to make this investment, it is best to avoid going in blind. There are certain things to ready yourself for.

tips for getting a safe deposit box

Here are six tips before you rent that safe deposit box and store your possessions away.

1. Create a list of items you are storing

It is important to know what you are putting into the safe deposit box in the first place. After all, as time passes, memories will fade and become foggy. You might not always have that mental checklist ready when you have to remember what you have stowed away.

It is better to be adequately prepared – and so you do not run yourself into a panic when it is time to look for those valued possessions or crucial documents, such as wills or marriage certificates.

2. Place items you do not touch at least once a week inside

If you are unsure as to what you can or should be storing inside the rented safe deposit box, try this rule of thumb: if you do not touch or use the item at least once a week, you might consider it valuable – and thus worth keeping away. This way, you will not have to scramble to look for different items or documents just because you thought you might need them on hand all the time (but in reality, it is the opposite).

3. Make sure key family members are well-informed

Before you commit to renting a safe deposit box, make sure select family members are told about it – so they know where you have kept your items. This is the time to also share your list of stored possessions with them as well, so that in case of emergency, they will know where to look if they need to retrieve them.

4. Make sure the company or bank renting it will insure your safe box

Whether you approach a bank or a private vault company to rent a safe deposit box, always make sure you are clear and well-informed on what kind of insurance you will get for your items.

Make sure that you only store whatever is insured in your safe deposit boxes. Should the worst happen, you will be protected from a staggering financial loss.

5. Ensure you are financially prepared to afford it

Whether you are installing a safe deposit box in your own home or paying a vault company to protect your material wealth and possessions, it is always important to make sure that you have enough of a financial foundation to invest in one.

Home installation prices are known to be hefty upfront, and vault companies offer high security environments with the price to match.

6. Decide properly if you really require a safe deposit box

Look over your list of items once more and decide if they are completely worth the investment in a safe deposit box. You might be better off keeping a handful of trinkets in a lockbox – but if you have plenty of legal documents relating to your will and assets, perhaps the safe deposit box will be a better solution for you.

Some homes have too much clutter to even be a safe space to keep things, and you might run the risk of losing your own documents in the mess. To be safe than sorry, you might elect to rent a safe deposit box after all.

Run through these tips and make sure you are adequately prepared (and suitable) for the rental of your very first safe deposit box. Do ample research and make sure you are confident about installing that safe deposit box at home – or if you are about to hire a vault company to do the protecting of your possessions for you.

At the end of the day, these are your most valued items and hence, you should choose the best possible option for yourself. Ultra Vault’s safe deposit box services allows you to access it 24 hours a day, 7 days a week at your convenience. Find our safe deposit box services at key locations worldwide:

You May Also Like

Malca-Amit New Launch Services

by Ultra Vault on 23 April 2020