A safe deposit box is a great way to store important documents and valuables. The fees for renting a safe deposit box vary according to the size, bank, and region. The cost of a small box can be as little as $18 per year, while a large box can cost over $140 per year. Rental fees are based on the square inches of the box, so a 10x10 inch container would set you back $100 a year. Many banks offer discounts to repeat customers or those who have an existing relationship with the institution.There are some disadvantages to using a safe deposit box. For example, if you have valuable documents that you need to retrieve in an emergency, a safety deposit box is a bad idea. The only way to get access to your items during these hours is to call your insurance agent and have them write a separate policy. However, you should know that a safety deposit box is only good for important documents and valuables, and should not be used as a personal vault.Some banks offer co-rentership of safe deposit boxes, and you can also share the box with someone else if you want to share the risk. You must be willing to sign an agreement with your bank, and you can always add a co-renter after the fact. Both of you need to visit the bank, present your ID, and sign paperwork to become co-renters. Once you have your box, the other person can use it to store things. Several people can share the safe deposit box. If you have more than one person, this may be a good backup option. Some banks provide free safe deposit boxes with certain account balances. If you are interested in renting a safe deposit box, contact your local bank or credit union. If you have a family member or friend that lives in the same city, this is a great way to find a safe deposit box. You can even save money by sharing a single unit. While you can rent a safe deposit box for only yourself, you can also include other people who will have access to your items. This is an important consideration when you rent a safe deposit box because you don't want to lose important information if you are not there to manage it. A co-renter is usually the person who will receive the keys to the secure box. If a co-renter does not have an ID, he/she can access the box for you. While it is possible to rent a safe deposit box for yourself alone, it is often more convenient to have co-renters. This way, each person will have equal access to the contents of the box. If you do not have a co-renter, you can still add them after the fact. You must give each co-renter their own key. They should be able to access the box and keep it in good condition.