SDBIC Partners with PrimeTrust Federal Credit Union to Offer First Insurance Solution for Safe Deposit Box Holders

Chicago, IL – Safe Deposit Box Insurance Coverage, LLC (SDBIC) entered into agreement with PrimeTrust Federal Credit Union, the largest credit union in Muncie, Indiana, to provide current and prospective members with the opportunity to insure the contents of their safe deposit boxes.
Research has proven the majority of consumers are unaware that financial institutions do not insure the contents of an individual’s safe deposit box; and until SDBIC, no insurance solution existed to protect against burglary, flood, fire, earthquake and other man-made and natural disasters.
“In effort to consistently provide financial and other advantages to our members in a way that promotes their overall quality of life, we strive to provide as much education and transparency as possible—across all aspects of a persons’ financial engagements,” said Carol Bradshaw, Marketing Director at PrimeTrust.
“Partnering with SDBIC offers our members an easy, convenient and affordable way to protect themselves from a potential loss that no financial institution can predict or prevent,” added Bradshaw.
Unique to SDBIC’s insurance coverage are several factors—the member does not have to disclose the contents in their safe deposit box, thereby maintaining confidentiality of their property; no appraisals on any items are required for coverage; there is no deductible attached to the policy, just a simple annual fee based on the declared value of the items in storage; and new contents added to the box during the policy term are automatically covered.
“This is the first and only insurance solution of its kind in the market today for safe deposit box holders,” said Jerry Pluard, President of SDBIC. “It offers tangible benefits far beyond any existing homeowners’ insurance policy, with the added advantages of confidentiality, convenience and transparency. We are thrilled to pair such an innovative product with a leading and respected institution as PrimeTrust.”
SDBIC makes the safest places even safer by providing safe deposit box and private vault storage insurance solutions in more than 350 institutions and facilities across the U.S. states, with policies starting as low as $25 per year for $5,000.00 USD in coverage. Each policy covers all the property in a customers’ box against natural and manmade catastrophes as well as theft due to burglary or robbery. No disclosures or appraisals required; and no deductibles upon an event of loss. It is a turnkey product with no system integration, which has been positively received by key regulators, and has proven to enhance customer retention, as well as overall customer acquisition. Coverage is underwritten by an A+ rated insurance carrier. To learn more about SDBIC please visit or call 224-227-6181.