Box Rental Agreements

It’s the ‘Lease’ You Should Know…

Storing valuables and important documents in a safe deposit box is one of the smartest decisions you can make. Banks vaults are infinitely more secure than your home, and boxes cost a fraction of what is often spent on a home safe and/or additional homeowners insurance.  

But no vault is impenetrable—in the past 5 years more than $2 billion in property has been impacted by natural disasters, catastrophes and theft. Valuables in safe deposit boxes are NOT insured by any financial institution or federal agency.

See for yourself…..



JP Morgan Chase

“The contents of your box are not protected against loss or damage under insurance coverage maintained by the Bank or Federal Deposit Insurance Corporation. You may want to secure your own insurance. You understand and agree that safe deposit boxes and vaults are not fireproof, burglarproof or waterproof.”

 “You agree and represent that the aggregate value of the contents of the box will not exceed $25,000 at any time.”

Wells Fargo

“A Box does not provide protection against every possibility of physical loss and we do not provide insurance coverage for the contents. Boxes are not designed to withstand fire, explosion, intense heat, smoke, water, building collapse, mold, or similar perils, and you assume the entire loss to the Box contents from such risks.”

Bank of America

“The contents of your safe deposit box are not protected against loss under insurance coverage maintained by the Bank. For your protection, you should secure your own insurance through an insurance company of your choice. You should keep a complete list and description of all property stored in your safe deposit box, as well as the appraised value and proof of ownership.”

U.S. Bank

“Safe deposit boxes and their contents are not covered by FDIC-Insurance or U.S. Bank’s insurance policy. The Federal Deposit Insurance Corporation (FDIC) insures deposits in deposit accounts. Safe deposit boxes are considered storage space provided by the bank and do not fall under these insurance laws. Therefore, when considering whether to rent a safe deposit box, please check with your personal insurance carrier to determine whether safe deposit box contents are covered under your existing policy or if you will require additional insurance.”

Truist Bank

“…You expressly agree that the use of the Box shall be at Your sole risk, and You hereby assume any and all risks incidental to or arising out of the use thereof. In no event, and to the maximum extent allowed by applicable law, the Bank shall not be liable for any loss of jewelry, diamonds, gold, bank notes, bonds, notes or other valuables by theft, robbery, fire or other cause, the Bank not being an insurer of the safety of the property, nor in any manner liable therefore. The Bank is not required to take any note of property thus deposited, as the person who rents a Box is, for the term of the Lease the owner.”

 “In performing its duties hereunder, the Bank shall not be liable to any party for damages, losses, or expenses, except for gross negligence, willful misconduct nor under any circumstances for consequential, special, punitive, or indirect losses or damages in connection with this Lease, even if the Bank knew or should have known of the possibility of such losses or damages.”

TD Bank

“Lessee(s) acknowledges that the safe deposit box is not a deposit account and not insured by the Federal Deposit Insurance Corporation.”

 “(1) The contents of your safe deposit box are not protected against loss under the insurance coverage maintained by the bank (2) For your protection you may wish to secure your own insurance through an insurance company of your choice…”

Key Bank

“Key and FDIC do not insure the contents of the safe deposit boxes. You should consult your insurance agent.”

Capital One

“Items in a safe deposit box are not covered by FDIC insurance, so if you’re keeping valuables like jewelry or other items in your box—get those items insured!”

The Huntington National Bank

“We will not be responsible for any of your losses from fire or other natural causes, or from theft, embezzlement or any other cause, unless we fail to use reasonable care in preventing these occurrences.”

M&T Bank

“The FDIC only insures deposits in deposit accounts at insured institutions.  A safe deposit box is strictly a storage space provided by the bank.”

BMO Harris Bank

“You hereby defend, indemnify, release and hold us harmless from and against all Losses, in connection with the rental of the Box (including those arising from assessment of taxes as provided in Paragraph 1 above), any access thereto as authorized by this Contract, the removal of or damage to the contents of the Box, and any conflicting claim to the Box or its contents, or any portion thereof.”

 “In the event of any act or statement by you, any legal or administrative process, or adverse claim by any person which in our opinion affects or may affect any of our rights or liabilities, we may, at our option, and without incurring liability therefor, suspend all rights of access to the Box until such claim, process or alleged rights have been resolved or disposed of to our satisfaction.”

 “Nothing in this Contract shall prohibit us from instituting proceedings to relieve the Bank of liability or responsibility for the contents of the Box, or any Loss thereto, and we may dispose of or relinquish the contents in any manner consistent with such proceedings and as provided in this Contract, all at your sole cost and expense.”