If you have significant jewelry where do you keep it - safe deposit boxes are not safe apparently

[Anonymous]

What about one of those floor safes for the home? The type that weighs several hundred pounds? Would that be a good option?

[Anonymous]

What is the point of owning s bunch of jewelry that you keep in a metal box at the bank or hide randomly all over your house?

[Anonymous]

Put it in your feminine hygiene section. Thieves are almost always male, and they aren't going to go through that.

[Anonymous]

I have a cloth jewelry organizer I got at the container store that goes on a hanger and I put it mixed it with all my clothes in my closet- you can’t see it once it’s hung.

[Anonymous]

I’ve read all the tips suggested here before. If I’ve read (multiple times over the years) tips on hiding it in the kitchen, in your tampon box, in your clothes hanging in the closet, etc. then chances are robbers have, too.

[Anonymous]

Anonymous wrote:I’ve read all the tips suggested here before. If I’ve read (multiple times over the years) tips on hiding it in the kitchen, in your tampon box, in your clothes hanging in the closet, etc. then chances are robbers have, too.

Thieves have a limited time in the home

[Anonymous]

Wow I had to look up how bad they can be.

https://www.nytimes.com/2019/07/19/business/safe-deposit-box-theft.html

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP. Mom doesn’t have much disposable income but does have a lot of very valuable items. She tried getting estimates for appraisal and they were high. Sure she could sell a piece and pay for the appraisals but I don’t think I can convince her. I will inherit them but I am too poor to pay either. She has had them for decades. Brought from Austria and through a few house moves. Always at that bank I believe.

Will tell her to continue keeping at the bank and the few pieces at her home hidden. The only reason I started this thread is because I saw someone post the other day about a man getting contents of safe box at bank stolen and no protection or something. But I bet many keep valuables at the bank and few have appraisals?

A straightforward appraisal will run you about $80-$100 per piece. Appraise the most valuable pieces and get insurance on them.

It would probably be less per piece if you have multiple items. I was the executor of an estate and I paid a gemologist around $1,500 to appraise 40 items.

Shop around — you don’t need the best appraiser in town, you need someone certified that the insurance company will accept.

However, if you have a lot of high-value items, you should also see if the insurance company has a dollar limit on what they will insure without providing for additional security (it’s usually a couple of hundred thousand). In other words, to get insurance, your mother may be required to keep the jewelry in a safe deposit box or acquire a security system for her house.

I believe it is 5% of the home insurance value unless you get a special rider.

[Anonymous]

Anonymous wrote:Wow I had to look up how bad they can be.

https://www.nytimes.com/2019/07/19/business/safe-deposit-box-theft.html

I was going to mention this article. People assume safe deposit boxes are insured and are the best place to put things. We use ours for back ups of paperwork.

"There are no federal laws governing the boxes; no rules require banks to compensate customers if their property is stolen or destroyed.

Every year, a few hundred customers report to the authorities that valuable items — art, memorabilia, diamonds, jewelry, rare coins, stacks of cash — have disappeared from their safe deposit boxes. "

"But even when a bank is clearly at fault, customers rarely recover more than a small fraction of what they’ve lost — if they recover anything at all. The combination of lax regulations and customers not paying attention to the fine print of their box-leasing agreements allows many banks to deflect responsibility when valuables are damaged or go missing."