Should I Store Jewelry in a Safe Deposit Box?

A safe deposit box is a personal-sized secured storage container generally housed within a bank. This type of storage is preferred by those who wish to have the added security for their valuables that banks are able to provide. Storing jewelry in a safe deposit box has some potential pros and cons.

The Benefits of Safe Deposit Storage

Housing expensive pieces of jewelry within a safe deposit box can deliver peace of mind. Banks tend to have state-of-the-art security, which makes accessing these boxes extremely difficult. When people opt to put pieces from their jewelry collections in safe deposit boxes, they limit their chances for theft and save themselves the worries that can go along with home storage.

The Disadvantages of Outside Storage

Although storing jewelry in a safe deposit box is a common practice, it is one that can have some drawbacks, including the following:


  • The inconvenienceWhen jewelry is housed away from home, actually wearing and enjoying it can be impeded by a need to visit a bank to gain access to it.
  • The lack of financial protectionBanking regulations do not call for federal deposit insurance to cover items stored in safe deposit boxes. This means jewelry owners are not guaranteed replacement coverage if items are stolen or damaged while housed on bank property.
  • The potential need for additional insuranceSince federal deposit insurance does not apply to jewelry stored in a bank, some people think their homeowner’s policies will cover it. This is not always the case. It is possible that additional insurance will be necessary to cover the replacement value of items stored in a safe deposit box.

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