by 
The Curious Bag
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<h4 class="dechead">On One Hand: Protect Valuables
Safety deposit boxes, also called safe deposit boxes, are locked storage boxes located in a bank vault. These allow you a place away from home to store birth certificates, deeds, jewelry and other items that would be hard to replace. If your home catches fire or is broken into, you do not need to worry that these items have been compromised if they are stored in a safe deposit box.
On the Other: Potential Loss
Items in safe deposit boxes, although at a bank, are not insured by the FDIC. Some banks do offer limited coverage in the contract, which should be read carefully. Although rare, fires can also occur at banks. Even though the items are in a vault, the intense heat can melt jewelry or damage papers. Also, since some banks have their safe deposit boxes located in the basement, your items could be damaged in a flood.
Bottom Line
Safe deposit boxes are more resistant to theft and fire than your home is. Storing valuables and documents in safe deposit boxes is a solid option for both privacy and security. However, looking at the insurance offered by the bank or your personal insurance company is recommended.
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