Quote:
Originally Posted by ALR-bishop
There have been prior discussions about some of the drawbacks to SDBs. Fire and floods can occur as well. A bank can not be expected to insure the contents of the box since they rarely know what goes in or comes out of them. The article talks about customers forgetting they have removed stuff, or a co signer taking something, but customer fraud would be another issue
Best bet is still to insure what is in the box if you want coverage for loss. And have documentation on what is in the box.....unless you are putting things you should not have in it. But that probably never happens ��
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I was literally signing on the dotted line for my safe deposit box in lower Manhattan when the bank guy said to me "hey, you know if you ever hear of a big hurricane bearing down on Manhattan you might want to come and get your stuff to be safe. After Sandy most of the safe deposit room was flooded waist high with water and a lot of people's stuff was completely destroyed. . ." Oh, righty. Thanks pal.