Safe deposit box at the bank versus a safe at home

[cpg35223]

Let's see.

Safe deposit box at bank: $25 a year.

A real deal safe, not something that could be carried out: $500.

So not only would you have to go twenty years before your safe paid for itself, but it would not be any guarantee against a good sustained house fire.

[james777]

Originally Posted by kanhawk

I'd like opinions on what you think is the better way to go. I have a safe deposit box at the bank which I pay about $25/year to rent. I keep about $20,000 in valuables in the box.
I'm wondering if getting a home safe is a better way to go and save the yearly rent and also have my valuables right there at home when I want them.
What I don't know about home safes is how safe are they? Can burglars easily take the whole safe with them and break it open later on? I do live in a low crime area but I am just curious if thieves target home safes much.

I am not advocating either choice, but I just want to say that if you have a judgment against you in some states, the holders of the judgment can get at the contents of the safe deposit box. Also, if the owner of the safe deposit box dies, the box can be closed and held as part of the estate settlement, which is why you should have two owners signed for the box.

[marshallcrawford]

Safety deposit boxes are a must to keep important documents, jewelry, original deeds,insurance policies etc. that you may need in an emergency. It depends on you which kind of medium you are choosing. You may head to a local bank or you can have one at your home.