I don't feel like digging up my old thread, but I posted before about the fact that "safe deposit boxes aren't as safe as you'd think". 1) Regardless, if a person does decide to get one, what questions should one ask of the financial institution? I already know that they do not insure the boxes. Some are dual-control (2 keys, 1 yours and 1 the bank holds) and some aren't Some are fire-proof and some aren't (might be called "storage boxes") Some are in the vault, others may be in the lobby (again, "storage boxes") 2) One of the best/most recommended places to get insurance is Hugh Wood. What are some others?
Doesn't work when you aren't home. Oh, wait, we're all home now. So, as long as you're a light sleeper, I guess...
I have two levels of coin insurance with Hugh Wood. The low level is for the items I keep at home. The mid-level is for items I keep at the bank. It covers me moving things back and forth from the bank and home. I rarely do that but if I do, I'm covered. The high level (which I don't need) is mostly for dealers who go to shows.
House sitting for my daughter, she has 3 dogs so in the middle of the night I was often awoken by claws clicking on the floor as they roamed the house...and what a joy to open your eyes and find a dog staring at your face...
@Dougmeister I have never seen a bank that has SDB's in their lobby. I sure wouldn't use those. A typical scenario is the boxes are in a vault. You stand and watch the banker unlock his lock and he leaves the room when you unlock yours. Most institutions have a small private room adjacent to the vault where you can make changes in your box in private....... I would insist on; 1) A vault 2) Two key control 3) A private area to view your box. Now my box is small and it is stupid cheap. I give something like fifteen bucks a year to rent it. I may be wrong on that but it is an inconsequential amount. And if it were me, I would do it with an institution that I have a previous relationship with for no other reason than it makes the whole "accessing the box" thing feel more comfortable. I truly couldn't tell you if my box is fireproof. I can tell you this. Some years ago a driver had a heart attack and careened into my bank. He was fully accelerating and went through the glass bank front and was stopped cold at the SDB vault. Other than the driver having a heart attack, fortunately nobody in the bank was hurt. To include the SDB vault.
Just about every bank I see is closed so you can't access your box but I've always been a home protection guy. That's why I say there are 4 precious metals, gold, silver, copper and lead.
Where I live among seven local banks only one has large safe-deposit boxes. It doesn't take many coins to fill up the typical small safe-deposit box, so you might make sure they have the size box you want.
Some that instantly come to mind . . . What is the sign-in / sign-out procedure? What days / hours are they accessible? Under what conditions may I be refused access until government officials are present? What is the difference between a co-boxholder and a deputy? I'm sure I can think of others later on.
I agree 100% with that. I have two rescue dogs in the house and a wild cat that took up in my house and allows me to live here. Her only drawback is that when I have slept too long and she is ready to eat, she does that claw digging thing in my chest..... That is NOT fun to wake up to!
Haha I always found that funny when my old one would before he passed away unfortunately. He was extra catish though as he would go for right under the chin because he wanted you to pet him.
