LESSEES OF SAFE DEPOSIT BOXES COVERAGE covers the loss or damage of securities and other property that is stored in safe deposit boxes. Coverage applies only while the securities and/or property are inside the deposit box and the box is inside a vault at the scheduled depository. The only exception is that securities and/or other property temporarily out of the box while being added or removed are covered as long as they remain in the depository. Securities are covered for loss due to theft, destruction or disappearance while other property is covered for only burglary, robbery or vandalism. There is no coverage for money.
Related PF&M Article: CR 04 09-Lessees of Safe Deposit Boxes