Safety deposit boxes offer enhanced security for valuables but aren't accessible outside bank hours. Items in safe deposit boxes are not FDIC insured; separate insurance is needed for coverage. Legal ...

Safe deposit boxes are increasingly less common in major banks, and one major reason has to do with the liability for what's stored inside them.

“Whatever the condition of the safe deposit boxes, the bank is not liable for the contents,” stated a Citibank representative following the recent fire at a Citibank branch in Manhattan that burned ...