Safe Deposit Boxes
Why knowing what’s in your vault is key
One of the reasons for storing your valuables with Guardian Vaults is undoubtedly the peace of mind. Not having to worry about the safety of your most treasured belongings is incredibly reassuring, but putting them out of your mind entirely is not advised. Periodically revisiting what exactly you have in your vault or safety deposit box can prove financially beneficial both immediately and in the long run.
The main reason you store things in a vault is because they are valuable. But as you know, the value of things can change over time. This applies to everything from bullion bars and numismatic coins to rare books and art pieces. Revisiting the contents of your vault on a regular basis, will prompt you to reassess the value of your belongings to ensure you have an accurate and current appraisal.
One of the main reasons to be fully on top of the value of your belongings is for insurance coverage. If the value of your items drops without your knowledge, you could be paying an unnecessary insurance premium. On the flipside, if you have insured something for less than its current value, you could find yourself undercompensated should anything go wrong. The easiest way to avoid any of these troubles is to monitor value carefully and use a company with flexible and competitive insurance rates, like us.
Of course, value isn’t just measured by market demand. Many of our clients store items with us because they are valuable to them for sentimental reasons – a family heirloom, some precious memories or perhaps your grandfather’s love letters from World War One. Reminding yourself of these items is important too. After all, you put them into a protected vault for a reason.
So whether it’s a pile of gold or a pile of precious photographs, we encourage all of our clients to revisit and reassess the contents of their vault regularly – the benefits are certainly worth the effort.
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