Why a fireproof safe is a good idea

Most people assume that in order for their valuables to be safe they must be kept in a bank safety deposit box. After all banks go to great measures to keep all the burglars out, right? They have secure concrete bunkers they transform into vaults with tightly controlled access and vault doors that no one in the world would ever dream of breaking into. Plus they have very tightly controlled security alarms that will have the authorities there in minutes. All of this sounds like pretty convincing evidence to store your passports and important documents in a safety deposit box….but a fireproof safe might be a better option.

The first thing you must consider when you are looking at leasing a safety deposit box is the fact that they are not FDIC insured. The FDIC will only insure the deposits held in bank accounts and there are no requirements to insure any contents held in a safety deposit box. The contents inside a fireproof safe can be insured depending on your homeowner’s insurance policy because the fireproof safe is inside your home.