Insuring a safe deposit box

[barrett]

I am looking for input from folks who have safe deposit boxes and have insurance on them. Both my bank where by box is located and my insurance company have told me that they will not insure it. What the hell? Thanks in advance for your help.

[rickb]

See this thread: http://gyroscopicinvesting.com/forum/go ... your-gold/

[barrett]

Thanks for the link, rickb. Sounds like a pain in the butt. I actually have EE Bonds, I Bonds and a few gold coins in my safe deposit box. I have a record of the serial numbers of the bonds but don't like the idea of them going uninsured either. I realize that all assets have some risk but do folks on here consider this a chink in the armor of the PP?

[Xan]

I would think that my insurance for items stored in a bank's safe deposit box would be covered under the "nobody knows what's in there except me" plan.

[WildAboutHarry]

The US Treasury "insures" EE and I bonds, if the bonds are "lost, stolen, or destroyed".

[barrett]

WildAboutHarry, thanks for the reminder on the savings bonds. I knew that they could "be replaced" but had forgotten that they are actually insured. Will now go find something else to worry about!

[MachineGhost]

Thanks for the link, rickb. Sounds like a pain in the butt. I actually have EE Bonds, I Bonds and a few gold coins in my safe deposit box. I have a record of the serial numbers of the bonds but don't like the idea of them going uninsured either. I realize that all assets have some risk but do folks on here consider this a chink in the armor of the PP?

Yes, bank deposit boxes are not safe, not insured and easily suspectible to theft by increasingly corrupt bank employees and their compliances (i.e. Wells Fargo).  And it can be incredibly difficult to prove the bank is at fault for missing items in a safety deposit box.  They simply won't accept responsibility and you'll have to sue them to get any traction.  It's just not worth it.  It's security theatre nowadays.