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Article: Who needs a safe-deposit box?(home safe-deposit boxes cheap alternative to bank vaults)(Brief Article)
- Article from:
- Kiplinger's Personal Finance Magazine
- Article date:
- November 1, 1998
- Author:
CopyrightCOPYRIGHT 1998 The Kiplinger Washington Editors, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Maybe not you. A home safe is more convenient--and cheaper, too.
Digital-age bank customers don't spend much time in bank lobbies anymore. So why cool your heels waiting for admission to the bank's vault, where you've stashed your valuables in a 3- by 5- by 18-inch metal box? Although a safe-deposit box is a safe place to keep birth certificates, deeds, insurance policies, rare coins and other hard-to-replace possessions, a good home sate can be cheaper and more convenient--and no less secure.
A bank vault may withstand fires, explosions, burglaries and floods, but none is "fireproof, bombproof, waterproof or burglarproof," admits Joyce McLin, executive ...