Frequently Asked Questions

Why should I consider getting a safety deposit box?

Safety deposit boxes are a convenient way to securely store valuables while providing protection, backup, and peace of mind. There are several reasons to consider getting a safety deposit box. These include;

Security. It provides a secure, locked environment kept in bank vaults to safeguard valuable items from theft, loss, or damage from things like home fires or floods.

Privacy. Contents are private and protected from unwanted eyes. Only the renter has access to the box, providing privacy not possible with storage at home.

Convenience. at Inwood Security Vaults no appointments are necessary. It’s secure storage you can access during business hours as needed without hauling items elsewhere for safekeeping.

Backup protection. Valuables and records have an off-site backup storage option in case of an emergency like natural disasters.

Peace of mind. Knowing important papers, heirlooms or property documents are secure can provide relief from worry about loss or damage at home.

Heirloom preservation. Valuable family items can be passed down in generations when properly stored in a climate-controlled box.

Asset protection. Safeguards valuables that could otherwise be at risk during a lawsuit or bankruptcy proceeding if left at home.

Organization. It encourages organization of important documents rather than piling them chaotically at home.

What are the typical items stored in a safety deposit box?

Valuables like jewelry, precious metals e.g. gold or silver, collectibles like stamps, coins, or collectable cards.

Important documents. Passports, birth certificates, marriage certificates, wills, citizenship documents, property deeds, car titles, stocks and bonds paperwork.

Cash. Some people store excess cash, savings bonds, or cash gifts in a safety deposit box rather than keeping large sums at home.

Heirlooms. Things like family jewelry, antique jewelry pieces, or other small heirlooms as they are valuable items to be passed down through generations.

Memory items. Some people store photos, letters, or other sentimental items that hold importance or memories but wouldn’t want to leave at home unsecured.

Backup equipment. For businesses, things like external hard drives containing important digital records, contracts, tax returns or ownership documents may be stored offsite in a safety deposit box.

Wills and trusts. Original copies of wills, trusts, or other important legal/financial documents are frequently stored in safety deposit boxes for safekeeping and easy access if needed.

Medical Supplies. Some people store extra supplies of medical supplies including prescription medication and equipment in case of emergencies.  

Are there any restrictions on what can be stored in a safety deposit box?

Illegal or hazardous materials including intoxicating liquors, narcotics, or any property of an explosive, malodorous or destructive nature. 

What happens if I lose my keys?

If one or both keys are lost, Inwood Vaults must be notified at once. In the event that both keys are lost, it will be the responsibility of the customer to arrange for a professional locksmith to meet them at Inwood Vaults to drill open your box. Customers will be responsible for the cost of the locksmith and any subsequent repairs that may be required including a $75 lock replacement fee. 

What do I need to open an account with you?

To open an account, an in-person visit is required. We will require you to provide a form of personal identification using an acceptable form of photographic identification such as a valid passport or driver’s license. A unique signature will also be required to access your box. 

Can I give another person access to my box?

The account holder may add other persons to their account upon their request. A unique signature will be required to add them onto the account as well as an acceptable form of photographic identification. 

How much does your service cost and how can I pay?

We offer annual and bi-annual rental terms for our boxes. Rates vary depending on size. The rent must be paid in advance in addition to a one-time $200 refundable key deposit. We accept cash, check, credit cards, ACH or wire transfer.

If payment is not received within 30 days of the renewal date, overdue balances are subject to a late payment fee of $100.

When can I access my box?

You can access your box anytime during business hours which are Monday to Friday from 9 am to 5 pm. No appointments are necessary. We do close on the major holidays.

Will my items be insured?

We are currently working with an insurance company to provide insurance for our customers. When completed we will announce on the website.

How do I renew or cancel my contract with you?

Contracts are renewed on an annual or bi-annual basis based on the date on which your contract began. Approximately one month before your contract expires, Inwood Security Vaults will contact you to renew your lease. If you do not wish to renew, we kindly ask that you return both keys. Late renewals will incur a charge of $100. 

Do you keep a copy of my key?

No. You will be issued with the only 2 keys that can open your box. Our safety deposit boxes are opened with a two-key system. A “Master Key” held by Inwood Vaults and 1 of the 2 assigned “Customer Key” are both required to unlock each box. Neither Inwood Vaults or the customer can open a box alone.

What happens to my safety deposit box if I die?

When creating an account, we will give you the option to fill out a Survival Form. This form allows you to name a successor who can retrieve your belongings in the event of death or incapacitation. The requirements for them to enter the vault without your presence would include personal ID, Copy of a Death Certification and/or Proof of Incapacitation by a Physician.