Safety deposit box - watch in pouch or box?

[Stan Cooper]

Originally Posted by envuks

I just want to ensure you’re aware that the bank has zero liability for goods in a safe deposit box. If the bank had a loss (fire or flood for example), you would be required to claim losses on your own insurance.

This.

FDIC on bank liability for items in safe deposit boxes

A safe deposit box is not a deposit account. It is storage space provided by the bank, so the contents, including cash, checks or other valuables, are not insured by FDIC deposit insurance if damaged or stolen. Also, financial institutions generally do not insure the contents of safe deposit boxes. If you want protection for the valuables in your safe deposit box or home safe, talk to your homeowner's or renter's insurance agent about adding coverage under these policies.

[envuks]

Originally Posted by phillyEagles

Really? What’s the point of having it then?


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The point is that it’s a safe place to keep valuables if you do not have a safe place at home. Or a second safe place if one doesn’t want all eggs in one basket.

Insurance on anything of value stored in a safe deposit box is critical.

There was a bank branch that burned down local to me about 8-10 years ago. They had safe deposit boxes. The place burned for 3 days (somehow) and was charred to the ground when all was done.


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[Tools]

Originally Posted by SSdayton

Hi all,

When storing your watches in a safety deposit box is there any rhyme or reason to put it in with the presentation box or just in a pouch - reason I am asking is, is there any benefit to putting the boxes in also as different sizes are different amounts when using a safety deposit box, I was thinking it could be stored in a pouch and probably be fine?

You do not want to store any metal product in a container where the fabric pushes against the surface. Minor movement will burnish the metal wherever it touches.

A pouch/sleeve is not a very good option. The box is bulky, so the answer is one of the many available boxes that hold multiple watches on cuffs and hold most of the surface away from sources of rubbing.

[shaunylw]

Originally Posted by Jocke

Ziplocks.

Jocke that’s an insane amount of watches, you’re sick. I love it.


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[fskywalker]

Originally Posted by TonyD

I use a casebudi or oakley vault type container. Soft inside and hard outside. Flexible enough to cushion a drop. Highly recommended.

Casebud are nice! Also the Rolex transportation boxes are nice and inexpensive

[Andrejb]

Mine are all in a slim watch roll in my safety deposit box. All of the cards / tags etc are sorted into separate ziplock bags according to watch. Boxes themselves are in my personal safe empty

[doubleinfive]

I bury mine in coffins. They stack up neatly.

[dg88]

Originally Posted by phillyEagles

Really? What’s the point of having it then?


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This is very true. They are not insured but stored at your own risk.

What's the point of having it? Depends on your setup - might be safer keeping it in the bank SDB rather than at home, but a complete hassle if you want to wear them.