The best place to keep a safe deposit box is in a bank that offers high level security as well as insurance for items in case of loss or damage.
A safe deposit box, where items are well protected from fire, flood and theft, is a good place to store valuable items. It is also a good place to keep important paperwork and irreplaceable items with sentimental value. Renting a safe deposit box is cost effective, as the yearly fee for a 4 by 10 by 12 inch box averages around $40 to $65. A list of the box's contents should be kept up-to-date for security.