Where do you store your cold wallet? A safe in your house? Also, where do you store your backup recovery phrase? Seems risky to store them both in the same place right? Fire could take both out.
What will be the first point of focus for thives? It will be the safe in someone's home, this should not be a good place of saving hardware wallet or any other cold wallet, today's thives may not know what hardware or paper wallet is, but they are getting advance, it can even be the point of target in the future, while safe is not good for saving anything these era.
To keep cold wallets, a place very safe and out of reach to theives will be good, cold wallets are not big to the extent it can be noticable, they are very small in a way they can be kept in a place not even known to theives at home, but safe will never come to my mind.
About seed phrase, it is very important to store them in a safe place that will be safe from attackers and damages. That is why I made a topic that people suggested different ways they can store their seed phrase.
https://bitcointalk.org/index.php?topic=5256197.msg54635541#msg54635541