Benefits & Tax Incentives

2015 Loudoun County Service Business of the Year!

Benefits of Renting a Safe Deposit Box


Safe deposit boxes stored in a private vault have many benefits over using banks or storing valuables in your own home.

Benefit Private Vault Bank Home
Natural disaster protection
Security from theft
Climate control
Home insurance reduction
Private Viewing Rooms* *
Custom sized boxes
100% Anonymity
Cour Order / Subpoena Protection **
24/7 Emergency Access

* Some banks have private viewing rooms.
** Commonwealth Vault & Safe Deposit Co. must comply with court orders or subpoena if account is in same name as stated on document.

R.H.Nicholson and Co. logo
R.H. Nicholson and Co, Inc, an independent insurance agency in Fairfax, Virginia have stated that the security level of Commonwealth Vault & Safe Deposit Co is superior to that of your normal home alarm system. Because of this, they are able to offer rates much lower than those an individual would pay by insuring their valuables kept at home. An example of their rates for jewelry and watches can be as low as $0.30/$100 of value, less than half of the typical rate. That equals out to only $30 per year for $10,000 worth of coverage!

Tax and Insurance Incentives

Did you know that rental fees for your safe deposit box can be tax deductible1? Did you know that you also may be eligible for a discount on your homeowners or renters insurance premiums by storing your valuables with us2?

Here's a typical breakdown:

Description Amount Net
Personal Property Value $50,000
Typical annual Insurance Premium ($20 per $1000 value) $1,000
Premium if property is stored at Commonwealth ($12 discount per $1000 value) $400
Net Saving in Insurance $600
Annual Safe Deposit Box Rental Fee for a 5x10 box $360
Tax Deduction (assuming 35% bracket) $126
Net Box Cost $234
Net Gain to You $366

Don't risk loss of or damage to your jewelry, gold or gold coins, collectibles, personal records, financial documents, or other precious items! We can meet your secured safekeeping needs, whatever they may be.

1Please consult your tax advisor.
2Please consult your insurance provider.

Don't delay in securing your most valuable assets. Reserve a box today.

Site Design & Development by Allison Stone