Customers worried about valuables after bank fire, safe deposit boxes aren't insured

SPOKANE, Wash. - The U.S. Bank near the Lincoln Heights Shopping Center on South Hill was ruled a total loss after flames burned throughout the building for more than three hours, Monday.

People who called this their local bank are now left not knowing if their valuables are safe.

The cash inside the bank is covered by FDIC up to $250,000: a standard in United States banking. According to the U.S. Bank, their insurance policy requires security to patrol the building 24 hours a day.

Banks also provide customers the option to securely store valuables in a safety deposit box, and customers are hoping their personal items were safe from the flames.

"I'll be sad, but then I'll have to plan, figure out what I lost, and then figure out what I can do to to replace those, those items," said Steve Hoiness, a customer with the U.S. Bank on 29th Ave.

Steve told 4 News Now the bank said a representative is going to set a time with him to open his box once it is retrieved. Right now, he's not sure if things like his social security card, marriage license, and rare coins inside the box survived the fire.

When customers lease a safe deposit box, they are made aware that their box will not be insured by the bank or the FDIC. The lease that customers sign with the bank states safe deposit boxes are not guaranteed absolute safety.

"It was a bank fire. It's something that I never even considered," said Hoiness.

The cause of the fire is still under investigation.

READ: U.S. Bank Statement on fire investigation and safety deposit boxes

RELATED: Two firefighters injured in Lincoln Heights Shopping Center fire

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