Although safety deposit boxes are designed to be secure, they’re not invulnerable. Fires caused by electrical issues, lightning strikes, or other disasters can still pose a risk.

What happens if a fire engulfs your bank? Will your safety deposit box truly protect your valuables?

This article explores what happens if your safety deposit box is destroyed in a fire, which items you shouldn’t store in one, and why Trustworthy offers a superior alternative.

How Safe Is Your Safety Deposit Box?

Most safety deposit boxes are stored in bank vaults designed to be fire-resistant, but they are not fireproof. During a major fire, extreme heat or prolonged exposure could compromise the vault's integrity, potentially damaging or destroying the contents of your safety deposit box.

Even if the vault itself survives, the documents inside your safety deposit box would likely burn if the temperature got high enough. Paper ignites at 451 degrees Fahrenheit, and metals such as jewelry can melt at 1,763 degrees Fahrenheit.

What Happens if Your Safety Deposit Box Gets Destroyed?

Banks do not insure the contents of safety deposit boxes because only the owner knows what’s inside. Without a separate insurance policy for the contents, you won’t be reimbursed.

The Federal Deposit Insurance Corp. (FDIC) doesn't cover safety deposit box contents either. FDIC insurance applies only to deposit accounts such as checking and savings.

To protect the contents of your safety deposit box, consider adding a rider to your homeowners insurance policy to cover valuable items.

Items You Shouldn't Store in a Safety Deposit Box

Certain items should never be kept in a safety deposit box, including:

• Cash: It’s not insured, and you may need immediate access.

• Passports: You might need them urgently when the bank isn’t open.

• Uninsured valuables: These aren’t protected without additional coverage.

• Living wills and medical records: These are crucial documents that you may need access to at a moment’s notice.

Instead, store cash in a bank account and use Trustworthy for ensuring access to important documents.

Alternatives to Safety Deposit Boxes

1. Trustworthy

While safety deposit boxes and home safes are commonly used to store important documents, they come with significant risks. Paper documents are vulnerable to destruction, theft, or loss, regardless of where they’re stored in physical form.

Instead, consider Trustworthy's digital storage platform, which is designed to protect, organize, and share your most critical information. It offers:

• World-class security with 256-bit AES encryption, tokenization, and two-factor authentication.

• Automatic organization with its Family Operating System®.

• Fireproof and disaster-proof storage. Your documents are safe no matter what happens.

Best of all, Trustworthy eliminates the stress of maintaining physical documents. You can get started with Trustworthy for free.

2. Home Safe

For physical copies, a so-called fireproof home safe provides convenient, immediate access. Look for safes rated to withstand 1,700 degrees Fahrenheit for at least 60 minutes.

However, no safe is 100% fireproof. During a house fire, you can request firefighters recover the safe, but this still involves risk.

Related Articles

• How Much Do Safety Deposit Boxes Cost?

• Digital Safety Deposit Box (What It Is, How It Works)