Are Depository Safes Wise to Use at Home?

depositoryIt is easy to understand why depository safes are essential in stores and commercial establishments, you might be wondering if it makes sense to have one in your home as well on cash intensive establishments, you might be wondering if this type of safe is sensible to use at home.

A regular fire-resistant safe can be a lot wiser to have in a home.But what about depository safes? They have holes or slots where fire can penetrate. They are also lighter than the average ones that can make them easy for burglars to carry away.It is important to realize how important to have one of these safes at home.

Depository safes can be useful if you are living in an apartment and you have transitory roommates. If you have a family and you’re living with other families under one roof, then you should consider having one as well.

Keeping your valuables secure while also allowing your roommate to do you favors of slipping cash envelopes in your safe for safekeeping can be very advantageous. This gives you less worries and more peace of mind, in addition to the fact that it may also make your relationship with your roommate a lot more harmonious.

Another opportunity to use them is if you prefer to keep some of your cash at home and you want an easier way of loading it. More than ever in these hard economic times, having handy cash available can be very important.

depository safesEven with the clear benefits of a depository safe, there are still people who think about how wise it is to store their cash and valuables at home. For some, the bank safety deposit box is more secure. Both options actually have their own advantages and disadvantages. If you can afford it, it is advisable to make use of both.

A bank’s safety deposit box works well because it is fireproof and waterproof. The biggest advantage is that you can be sure that a bank’s security system is solid, 24 hours a day, seven days a week.

On the other hand, its contents are rarely insured. There is this misconception that cash in a safety deposit box is covered under FDIC insurance. Well, it is not. The FDIC only insures only the deposits of accounts and not the contents of their safe deposit boxes.

An additional disadvantage of having your cash in the bank is that it will not be available if the bank isn’t open. You also have the added responsibility of taking care of its key and there is an annual fee of acquiring a bank safe deposit box that can be very pricey.

Meanwhile, as mentioned above, depository safes can’t be fireproof or waterproof because of its holes or slots. If natural disasters strike your house, it is highly probable that the safe and all its content scan get damaged or even destroyed. The level of security is also not that great. If you don’t bolt it to the ground, then it is literally useless.

But as long as you acquire one with the appropriate locking mechanism and properly anchor it on a sturdy area, like a cement floor or wall, it can provide enough protection.

The great thing about having it at your own home is that you have access to it anytime. You can also save some money without the added cost of monthly or annual fees. Also, items in your home are typically covered by your homeowner’s or renter’s insurance policy.

Depository safes can be very useful at home especially if you are not living alone or are living with strangers. They are also beneficial if you need 24/7 access to your valuables and cash. Ultimately, everything is entirely dependent on your personal preferences.