Safe Luxury

Is it better to have a safe deposit box near my home or across town?

If it's nearby, a disaster that destroys my house could also destroy the bank, right? But is it riskier to have it across town because it will be harder to get to?

Public Comments

1. If your main concern is a natural disaster, the best option for you might be to keep the contents at home and try to protect them the best way possible. Bury them in a watertight/airtight container, or buy a fireproof safe, or some other option. Remember that contents of a safe deposit box are not insured by the bank, and you should verify with your insurance company whether your own policy would cover the contents. To your specific question, you would have to look at the various possibilities. - Disaster at home with box at nearby bank and bank also destroyed: contents lost - Disaster at home only, doesn't matter what bank you used as both are OK: contents safe - Home is safe, box at crosstown bank, crosstown bank destroyed: contents lost - Home is safe, box at nearby bank, crosstown bank destroyed: contents safe I don't know how you would determine what the chances are of each scenario, the most reasonable thing in my opinion is assume any of those situations are extremely unlikely, but among the group each one has an equal chance of happening. Therefore there is no "right" choice to your original question.