Acquiring a safe deposit box may be an efficient and cost-effective means of storing and safeguarding jewellery, vital papers, family heirloom items and irreplaceable treasures. The high level of security at the vault where these safety boxes are housed makes it a better option as compared to a home safe.
As your valuables are kept in a very safe environment at the safe deposit centre, you can rest assured that they will be well safeguarded.
Renting a safe deposit locker entails more than just paying the annual cost and placing the key in a secure place. You must decide what you will store in the box and who will be the co-renters and get access to it along with you. You also need to check what things are allowed to be kept in the box and what items are not allowed.
We are all aware that crucial documents need to be kept safe.But most of the time, people take the safety of such important documents very lightly. They store them in a folder and put the folder in any drawer, and many times even without locking it.
This puts the important papers at risk of getting misplaced or being stolen. Also, even in the home safe, these papers are not water and fire resistant.
These critical documents can be property deeds, stock certificates, marriage certificates, birth certificates, car papers, business documents and more. No one can afford to lose these papers and hence it becomes important to rent a safety deposit locker.
Jewellery & Other Valuables
One can also store valuables such as diamond and gold jewellery in the safety box. Apart from this, even family heirloom jewellery items can be kept. Antique items and collectables, such as stamp collections or coin collections too can be stored in the box.
Looking for safe deposit lockers in London? Neelkanth Safe Deposit centre offers highly secured vaulted safe deposit boxes at Croydon and Southall.
What things can’t be stored in the box
Whilst almost everything of high value or importance can be kept in safe deposit lockers, some items should not be stored in these boxes. They include vital legal documents that you or your family may require urgently.
Original will or a power of attorney should not be kept in the box. In the case of a tragedy or untimely death, your family will need to acquire these vital papers asap.
A word of caution about storing prohibited items. Some items cannot be lawfully kept in safety lockers. You are not allowed to keep drugs, both legal and illegal. Guns and explosives are also restricted things. Breaking the law is not a smart choice even when privacy is the main benefit of renting a safety locker.
If authorities find out that you are keeping banned materials or hiding something illegal. They can get a warrant to inspect and confiscate the items from your safety deposit box.
Sometimes people store cash in safety deposit boxes, assuming that they will have access anytime. But it is not a great idea. First and foremost, you can earn interest if the money is deposited in the bank.
Second, it implies that you are attempting to conceal cash from the government, which might lead to major legal issues in the future. Although it is not unlawful to put cash in the box, many vaults have regulations that strictly prohibit such acts.
Hope you liked the article. It’s high time that you search for a “safe deposit box near me” online. Find out the best vault service to keep your valuables secure. If you have any queries related to safe deposit box, get in touch today.