Safety deposit boxes aren’t as safe as we think, with banks offering little protection for lost or stolen items. A lot of people use them to store things like jewelry and important documents, but banks are still using pretty old-school systems to track who accesses your box. There’s usually a sign-in sheet, but at a TD bank branch, a bank employee had let people into boxes without signing the sheet — so, there’s a risk of theft that might not even be noticed. On top of that, banks generally won’t cover anything that’s lost or stolen from your safety deposit box. And unlike regular bank accounts, safety deposit boxes aren’t covered by the Canada Deposit Insurance Corporation. If you want protection, you’d need to buy separate insurance. As fewer customers use them, some banks, like National Bank of Canada, are even getting rid of them. If you’re still using a safety deposit box, it might be time to think about getting insurance or finding a safer option, like a home safe, for your valuables.