Why is safe deposit box not a 100% safe option?
Updated: Mar 30, 2020
After a devastating flood of decades of opinions, Wilson received a notice from the bank that their underground vault was flooded and that the safe-deposit boxes were all flooded, requiring him to go to the bank to help with the things he kept. After Wilson came to the bank, he discovered that dozens of people had been queued up in the bank, and there were hundreds of people who had not yet arrived. After the authentication information, the bank staff led him into the damp and cold treasury, where the bank staff carefully removed Wilson's box from the safe deposit box manufacturers, which was filled with water and stored jewelry needed. Cleaning and the files have been blistered and can no longer be identified and used.
After the photo was archived, the bank staff asked Wilson to sign a statement stating that the bank’s troops were responsible for the loss. Wilson was shocked and damaged the bank, but the bank did not take any responsibility. He refused to sign the statement and told Other customers on the spot, they should not sign.
During his communication with the bank, he found that he and many disaster victims did not carefully check the rental contract of the safe deposit box. It is too late, because the items in the safe deposit box are not covered by the insurance company, especially because Damage caused by floods, hurricanes, etc. if they do not purchase insurance themselves, the losses they cause need to be borne by the customers themselves. Those who have not purchased insurance lose their precious collections and documents in this disaster because they think The items stored in the safe deposit box are very safe!
Perhaps the bank's staff should tell them in advance that this would happen, Wilson said, and I think people are mistaken to think that there is no risk in depositing things at the bank, just as banks protect their deposits.
Although the bank is not liable for damage to items damaged in the flood, they tell Wilson that they are considering the loss of some uninsured customers and encourage them to provide relevant supporting documents to prove their property losses in the flood.
Bank spokesperson tax, when people are renting a safe deposit box, the no-responsibility policy is explicitly included in the agreement, so you need to read the agreement carefully and consider whether you need to provide extra insurance for your valuables to ensure 100% security
The bank suggested that they would pay for cleaning, repairing and repairing damaged items in the flood, but there are still some customers who have not yet opened their safe deposit boxes, so they are not sure how many customers’ properties have been lost. Hundreds of boxes came out in the flood, and the bank that has been counted has provided a free safe deposit box at other safe locations for re-use to customers.
Wilson learned that the bank's underground vault was about 1 foot deep and infested three or four rows of safe deposit boxes. The entire influent process lasted for one full day, and the bank was inevitably after trying to drain the water from the vault. The customer has caused losses. At present, the bank's cleaners are still cleaning up the silt in the vault, and actively inform the affected customers, inviting them to check the damage of the items in their boxes at different times.
The relevant lawyer said that there are sufficient reasons to conclude that the bank is not responsible for the losses incurred. The items stored in the store are only guessed by the customer and must be opened simultaneously with two keys, one for the customer and one for the bank. Banks have no way to count the things that customers keep, so they can’t clearly store the value of the items. Therefore, in order to avoid disputes between banks and customers, banks are not responsible for losses.
The clients present said that the bank needs to inform people more about the responsibilities and policies of the safe deposit box agreement and to guide people on how to ensure the absolute safety of the stored items.
Lawyers said that before the hurricane hit the coast, floods flooded thousands of safe deposit boxes. These customers sued their banks. The bank hired many lawyers to help them review the relevant lease contracts and ensure that the contract content met legal requirements. Since then, some banks that have a safe deposit box business have started to provide insurance for valuables in the safe deposit box, and they will not ask which items are stored inside.
Industry experts say that people can ensure the absolute safety of the safe deposit box in the following ways:
1. Rent a safe deposit box or provide insurance separately.
2. Store all items in plastic containers or sealed plastic bags to prevent damage by water.
3. Never store cash or guns and ammunition in the box.
4, very important documents to keep a copy or electronic file
5. Store the key in a safe place. Although others can't use the key, losing the key will cost you a lot of money.
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