Think your valuables are secure in a safe deposit box stored in a vault at a trusted facility? Think again.
When the FBI raided US Private Vaults in Beverly Hills in 2021, reportedly looking for drug-cartel money, some customers were outraged when their valuables (silver coins, priceless heirlooms, jewelry, and cash) were also confiscated. About 800 safe deposit boxes were opened and over $86 million in property was seized. Innocent customers had their items taken along with the alleged cartel money. A class-action complaint was filed against the acting US attorney in Los Angeles and the head of the FBI's LA field office. They simply wanted their property returned.
June 2021 update: A federal judge blocked the FBI from keeping valuables seized in the Beverly Hills raid. The litigation has continued through the federal courts.
Renting a safe deposit box to keep valuables secure should have bought peace of mind. Instead, it brought stress and worry. One way to alleviate the concern about asset forfeiture is to find a safe deposit box alternative you own and control yourself.
Safe Deposit Box Alternatives
Depending on what you need to store, there are excellent alternatives available. If you are protecting documents like passports, birth certificates, or tax records, a fireproof and waterproof safe is a great choice. If you store a flash drive or DVD with sensitive digital media, a data media safe protects against fire, water, and theft (the internal-temperature requirement is much lower than for paper). Jewelry and cash belong in a burglar-fire safe for an extra layer of protection.
Three safes that map to those three scenarios:
FireKing SS104 SureSeal Legal One Hour Fire Chest
UL Class 350 1-hour fire rating with water resistance for flood protection. Holds letter and legal-size documents flat plus CDs, DVDs, flash drives, and portable hard drives. Dual compression latches, safety hinges, and a key lock. 7-year warranty plus a lifetime after-fire replacement guarantee.
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Phoenix 2001 DataCare 1 Hour Data Media Fireproof Safe
Purpose-built for magnetic media: keeps interior temperature under 125°F for one hour, the threshold above which hard drives, tapes, CDs, and memory cards start to fail. Double-door construction with water-resistant seals, impact-rated for a 30-foot drop. Lifetime after-fire replacement warranty.
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AMSEC CSC1913 Burglar & Fire Rated Safe
UL RSC burglary rating with a 2-hour, 350°F fire rating in one compact box. A 4-5/8" door, two 1-1/2" solid steel locking bolts plus two matching deadbolts, ESL10 digital lock standard, and a heat-expandable intumescent door seal. Anchor hole and mounting hardware included.
Shop NowBurglar Fire Safes Make a Great Alternative
Storing items worth less than $50,000? A burglar fire safe is the gold standard in home safes. It protects contents from theft and shields them from fire damage. These composite safes are designed to meet both threats and go through rigorous testing before earning fire ratings and UL burglar ratings. Anchor the safe to concrete or wood flooring and you've made it much harder for a thief to carry the safe off and crack it later. With a fire-rated safe that passed laboratory testing and maintained an internal temperature below 350°F, your documents and cash stay secure for the rated duration.
Storing valuables worth more than $50,000? A high-security safe is the ultimate step up: incredibly burglar-resistant, designed to protect high-value property at $50,000 and above.
Related reading: How to Survive the Next (Imminent) Hyperinflation
Understanding Burglar and Fire Ratings
Is Any Storage 100% Secure?
No storage solution is 100% secure from loss. The best way to leverage the odds in your favor is to do the research, talk to a home-security professional, consult your insurance broker, and diversify where your valuables live.
Related reading: Safely Store Gold and Silver at Home
As times change and people look for safer places to stash their valuables, bank vaults and safe deposit boxes are losing their appeal. Some American banks aren't even installing them in new branches. Now is the time to consider an alternative you own and control.
Pro tip: The more valuables you accumulate, the more you should spread them across multiple storage methods. Documents in one safe, digital media in another, cash and jewelry in a third, and keep an inventory of what's where.
Keep Reading
- How to Reduce the Risk of Mail & Package Theft
- How to Prepare for a Long-Term Power Outage
- The Safe by Mykel Hawke (Survival Expert)
Need Help Picking the Right Alternative?
Our safe professionals will help you match the right home safe to what you're storing in about 10 minutes on the phone.
Call 800-207-2259Monday through Friday, 8:00 AM to 5:00 PM PST
