Commonwealth Vault Offers Insurance Coverage

Commonwealth Vault & Safe Deposit Company in Ashburn has now become the first regional safe deposit storage provider (bank or non-bank) to offer insurance coverage for its renters’ contents.

Safe Deposit Box Insurance Coverage LLC, based in Elgin, IL, announced an agreement to insure the contents of the company’s safe deposit boxes. SDBIC coverage is offered in partnership with AXA ART, a member of the global AXA Group, one of the largest insurance companies in the world.

Through this partnership, Commonwealth Vault is the first safe deposit storage provider in the eastern U.S. to provide each customer a policy in their name covering legal property stored in their box against all natural disasters—including all forms of flooding, as well as burglary, robbery, terrorist attacks and other man-made catastrophes.

“Our goal is to bring a superior suite of safe deposit and secure storage services to our customers, and deliver them in a discreet and professional atmosphere,” Commonwealth Vault founder and president Bryant Stone stated. “By collaborating with SDBIC, we are able to offer our customers a superior product and experience to banks or credit unions, which contrary to popular belief do not provide insurance through the FDIC or NCUA.”

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