When I think bank vaults and protected valuables, visions of wild crime movies with criminals drilling through large safes come to mind, pilfering all the boxes. Well, believe you me this happened in real life! Did you hear about the recent Hatton Garden Safe Deposit heist in London? ! A scene straight out of the movies-the theft was so large, early estimates peg it at nearly 300 million US dollars. And, just the simple fact that this occurred in the bustling London jewelry district, right underneath everyone’s nose makes this scenario a very real possibility. So real that it’s left me researching a home safe in my price range, despite writing for A&P.
Not all safe deposit boxes are insured – contents in your home safe can be!
Just buying a small fire proof safe, you can minimize losses. Safe deposit boxes are not FDIC insured like assets in your bank account are. So just like the Hatton Garden heist, should your local bank safe deposit vault is compromised, you may certainly come out losing. In home burglaries most thieves make a single pass through the house grabbing whatever they can hold and quickly make their escape. Large safes usually go untouched and even if you purchase a small home safe, they’re too heavy to run off with. A 2×2 cu-ft safe can weigh over 200 pounds, so it’s unattractive to criminals on the lam. Tilt the odds a little more in your favor and bolt it to the wall or the floor. There are various lock mechanisms even biometric wall safes that can be hidden behind a photo and opened by scanning your fingerprint. In the event your documents or valuables in a home safe are compromised, since they are in your house it is likely they are covered by your homeowners insurance policy. It’s like having an insurance-insurance policy.
More reasons to invest in a home safe.
Home safes are also good for irreplaceable items such as family photos, important documents such as car titles, deeds, wills, powers of attorney or insurance policies. Since items like these need to be accessed periodically, they wouldn’t really be suitable to store in a safe deposit box. Furthermore, buying a small fireproof home safe is easy and can protect your valuables in the event of a fire. A fire and waterproof home safe will save your sensitive documents after the fire department douses the fire.
Hedging your bets is a good bet and a home safe can definitely minimize losses. View A&P’s Best Safes and find one that will work for you.