Safety deposit boxes are things we see in James Bond movies, and we tend to think that they’re a luxury for those who have lots of valuables, or something to hide. The reality is that they’re the best way to protect valuables that are not good to have at home.
Most people have home insurance against theft or destruction of various types. That’s why,
Coin collections usually fit in safety deposit boxes. |
- The deed to your home
- Deeds to investment properties
- Long term investment bonds
- Family marriage, divorce and death certificates
- Inherited valuables
- Special jewelry that you use only on very special occasions
- Pictures or an electronic file, plus an inventory of insured home valuables
- Picture negatives
The boxes are in a larger safe secured against theft and fire. Inside it are various small thick
It's not a good idea to keep your will in a safe. |
You can access your OAS FCU during business hours, from 9 in the morning till two in the afternoon, Washington DC time. You may also access your box during some extended hours, but it would be at an additional charge. This is why it’s recommended that you only put in your safety deposit box things that you will not need at a moment’s notice.
How big are safety deposit boxes?
At OAS FCU they come in four different sizes:
- 3 x 5 x 18” (7.6 x 12.7 x 45.7 cms.)
- 5 x 5 x 18” (12.7 x 12.7 x 45.7 cms.)
- 3 x 10 x 18” (7.6 x 25.4 x 45.7 cms.)
- 5 x 10 x 18” (12.7 x 25.4 x 45.7 cms.)
You can rent one by going in person to the Credit Union, where you will sign a yearly
Inherited antique jewels and valuables should be kept safe. |
Can I give someone else access to my box?
Yes, if you stipulate that on your contract. When you rent a box, you immediately receive two copies of your key, but the person who gains access to the box must be on the contract, and sign it. If you wish to give anyone else access after that second person, you will have to pay for the creation of an additional key.
Additional points to consider
If you wish to insure the contents of your safe deposit box, contact your insurance company.
Once you do have a safety deposit box, it’s also good to contact your home insurance company because usually, when you inform them that you have an external safe deposit box, and inform them of the things you are holding in it, they usually will lower your home insurance premium.
No comments :
Post a Comment