Do You Need a Safety Deposit Box? | St. Johns Bank
You may have heard the term safety deposit box. But who really needs one, and why?
Our team at St. Johns Bank wants to help you gain a better understanding of the purpose and benefits of a safety deposit box so that you can know whether you can benefit from getting one.
What Is a Safety Deposit Box?
The purpose of a safety deposit box is to provide you an extra level of security and comfort when trying to keep certain items and documents safe. Located in a special part of our local bank, a safety deposit box can help to prevent items and documents from being hurt or destroyed due to fire, flooding and even burglary.
To know whether you really need a safety deposit box, you need to consider the value of the items and/or documents that you would want to put inside.
What Do You Put Inside a Safety Deposit Box?
Let’s take a look at some of the common items placed in a safety deposit box:
For starters, many people use a safety deposit box in order to keep family documents safe. These documents include:
- Birth certificates
- Marriage licenses
- Divorce decree
- Social Security cards
Second, if you own a home, property or business, you want to make sure you have all documents kept in a safe location, such as a safety deposit box. Property deeds and titles, mortgage documents, insurance policies, and personal and business contracts are all valuable documents that need to be kept in a safe environment.
Finally, financial documents are a main item to be stored in a safety deposit box for safekeeping. Stocks, bonds and certificates of deposit are all items that you want to make sure are kept safe in case of a disaster or unfortunate events.
However, it is important to note that if you do choose to place original documents inside a safety deposit box, they should never be the only copy. You want to make sure you have another copy elsewhere in a safe place, like a fireproof home safe.
Did you know? When you open a premier checking account with St. Johns Bank, you can receive a 50% discount on safety deposit box rental. Contact our team today to learn more!