Safe Deposit Box Insurance Coverage LLC, a company offering safe deposit box insurance, announced its latest partnership on Wednesday with New Orleans-based Crescent Bank.
Crescent Bank customers will now be able to rent an insured safe deposit box, while not having to disclose what is in the box.
Legal property put in the insured box is covered against all natural disasters, burglary, robbery, fire and other catastrophes.
Crescent Bank, a FDIC insured institution, was founded in 1991 with its main operations center located in New Orleans.
The bank has more than $1 billion in assets.
“With SDBIC’s insurance, disclosure of box contents is not required so confidentiality and privacy is maintained,” Jerry Pluard, president of SDBIC, said in a news release. “Uniquely, the insurance includes coverage to reimburse you for the cost of replacing important documents such as wills, trusts, titles, even photos and digital backup media.”
SDBIC coverage is offered in partnership with AXA ART, a member of the global AXA Group, an insurance group.
SDBIC sells policies starting as low as $25 a year for $5,000 coverage. The rate gets better as the customer purchases higher coverage.
In February, Metairie Bank & Trust Company partnered with SDBIC to insure the contents of their safe deposit boxes. Metairie Bank was the first bank in Louisiana to offer its customers this type of coverage.
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