Safety Deposit Boxes and Home Safes: The Pros and Cons

When it comes to protecting the most valuable items in your home, “good enough” just won’t cut it. You need the best protection you can find. At Affordable Lock Services Inc., we help our clients with their residential locksmith and home security issues in the Richmond Hill area, including key cutting, lock repair, security cameras, and a host of other services.

A common question when it comes to the most important possessions in your home is where to securely store them. Should you keep them in a safety deposit box in the bank or a safe in your home? It’s a good question and its answer depends on what your possessions are. Here are just a few of the pros and cons for safety deposit boxes and home safes:


Safety Deposit Boxes

Safety deposit boxes are boxes that a bank will rent to its customers in which they can place their most valuable items. The boxes are then stored in the bank’s vaults, giving your items the same protection as the bank’s own assets. These boxes are typically rented out on yearly contracts and fees for them vary from bank to bank. Safety deposit boxes are great for securing items that you don’t really need access to on a regular basis. The major drawback to this option is that you won’t have access to these items outside of banking hours and can only regain possession of them after going through some amount of red tape. Possessions that are great for storage in a safety deposit box include:

  • Jewellery that you don’t use very often
  • Stamp or coin collections
  • Important contracts
  • Car titles
  • Other documents you need to keep safe but don’t need access to very often

Home Safes

Your other main option for your most valuable items is a home safe. These days there are so many options for home safes that, if you want to find out if this option is right for you, you should consult a residential locksmith in the Richmond Hill area. Some safes are watertight while others are bolted into your floor. What safe you get will depend on your own needs. The main advantage of a home safe is that don’t have to go to the bank to retrieve your items, should you need them on short notice. The disadvantages of safes are that most are water and fire resistant rather than fully immune and, if they’re small enough, they can sometimes be simply taken by a criminal and cracked later. A few items that are perfect candidates for being stored in a safe include:

  • Bank statements
  • Passports
  • Wills
  • Powers of attorney documents
  • Cash

At Affordable Lock Services Inc., we’re experts in home security options. If you’re in need of a residential locksmith in the Richmond Hill area, contact us today. We can help you decide what home protection measures are right for you.



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