Lessons Learned from the Flood

[PPBart]

Another lesson learned today from the Great Flood of 2016: If you have a safe deposit box at your bank, DO NOT assume it is waterproof! We had a box at the Capital One Watson branch, got a call from the bank to come clean out the contents because the branch had about 5' of water. Our box was in the next row just above the water line! Everything below was soaked.

 

[kpm]

Correct. Very few are. I think a few in the New Orleans area are. I think it is listed on the disclosure statement when you rent the box. All updated disclosures after Katrina. Sorry man that sucks.


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[noob]

Don't know if the shell federal credit union has safety deposit boxes, but it's on the 2nd floor of One shell square, not water proof, but should be high enough to stay out of trouble. Also the Chase bank in Algiers, does have boxes, and it's high enough that you have to take an escalator to the 2nd floor to access the bank

 

[DAVE_M]

Pelican cases are cheap, conpared to what you are potentially putting in them.

 

[icetraxx]

yup have the same problem with Regions either off of oneal or denham. We got the call. However ours is the 2nd from the bottom.

 

[PPBart]

Here's another tip from LSU for anyone rebuilding...

http://www.lsuagcenter.com/topics/f...oodproofing-improvements-for-walls-and-floors

 

[PPBart]

...I think it is listed on the disclosure statement when you rent the box...

LOL! Wonder if anyone actually reads that? I admit I never did; fortunately, I was lucky this time -- water in my box would have been a real disaster! Next time, I'll ask more questions before renting.

 

[pyreaux]

Terrible situation, seems like a good application for aLoksaks.

 

[bigtattoo79]

Thanks for posting this!

My bank is on very high ground but I may still ask to move to a higher box.

 

[gwpercle]

Another lesson learned today from the Great Flood of 2016: If you have a safe deposit box at your bank, DO NOT assume it is waterproof! We had a box at the Capital One Watson branch, got a call from the bank to come clean out the contents because the branch had about 5' of water. Our box was in the next row just above the water line! Everything below was soaked.

I learned that lesson in 2005 , and the damaged contents of the box are not covered by any insurance. It's just your tough luck .

 

[RustyHammer]

Don't know if the shell federal credit union has safety deposit boxes, but it's on the 2nd floor of One shell square, not water proof, but should be high enough to stay out of trouble. Also the Chase bank in Algiers, does have boxes, and it's high enough that you have to take an escalator to the 2nd floor to access the bank

Sounds like we travel in the same circles based upon those banks.

One thing I would add is that it's not a bad idea to put your valuables in a water proof container/case of some sort - whether it be in a safe deposit box or a gun safe. I worked with a woman who kept all of her really fine jewelry in a safe ... in the slab .. under her bed. After Katrina, she discovered that it was not water proof and all her pearls and such were covered in mud/sediment. Not pretty ...

 

[PPBart]

...it's not a bad idea to put your valuables in a water proof container/case of some sort - whether it be in a safe deposit box or a gun safe...

Right... that occurred to me, also.

 

[AustinBR]

LOL! Wonder if anyone actually reads that? I admit I never did; fortunately, I was lucky this time -- water in my box would have been a real disaster! Next time, I'll ask more questions before renting.

I have read them hundreds of times. No joke. From someone with..er...lots of knowledge on financial institutions, I'll say this. Safe boxes are a pain in the butt for both the bank and the consumer. If something happens and the bank can't open, you can't get to your stuff. If something happens to you, people not on the contract cannot be let into a box. Banks are great at protecting money, especially with FDIC insurance and all...but keeping stuff in safeboxes is something of the past in my opinion.

 

[DAVE_M]

You people buy safes to put your guns in, but have safe deposit boxes? LOL WUT?

 

[JR1572]

You people buy safes to put your guns in, but have safe deposit boxes? LOL WUT?

This.

JR1572

 

[BlueShamu]

 

[noob]

You people buy safes to put your guns in, but have safe deposit boxes? LOL WUT?

I keep important documents in mine. Comes free with my bank account, so I'm not paying for it. Reason it's there and not in the house is for this very reason, if there's a flood, or fire in my home, I'll have my insurance documents, birth certificates etc safe. Figured the bank has an emergency sprinkler system in case of fire and in my case the bank is on the 2nd floor.

 

[DAVE_M]

I keep important documents in mine. Comes free with my bank account, so I'm not paying for it. Reason it's there and not in the house is for this very reason, if there's a flood, or fire in my home, I'll have my insurance documents, birth certificates etc safe. Figured the bank has an emergency sprinkler system in case of fire and in my case the bank is on the 2nd floor.

The year is 2016 and we have these:

What do you do if the bank catches on fire?
Please never say you trust a sprinkler system.

 

[John_]

I keep important documents in mine. Comes free with my bank account, so I'm not paying for it. Reason it's there and not in the house is for this very reason, if there's a flood, or fire in my home, I'll have my insurance documents, birth certificates etc safe. Figured the bank has an emergency sprinkler system in case of fire and in my case the bank is on the 2nd floor.

Same here Stephen. To me the greatest threat is a home fire or a massive flood. And I have 2 portable drives with pictures and docs, but I don't walk around 24/7 with a WD portable drive in my pocket. Having a duplicate drive in another location (other than your home) makes perfect sense to me. I guess not to all, but that is not surprising really.

 

[bigtattoo79]

You people buy safes to put your guns in, but have safe deposit boxes? LOL WUT?

I trust the banks vault over most home safes.