Re: Thinking of separating my holdings into two physical locations.
One drawback I see is that if the house burns down I would lose everything I manage with one HW, but well, that risk I also had now, having 100% of the management of my holdings in one site.
Don't keep your backup HW wallet inside Florida (floods) or California (wildfires) then
Your best bet is to store it inside a basement in an area that is not known to have frequent natural disasters.
I mentioned the basement specifically to avoid tornados if that's a thing in your backup location.
However, it is not worth it to rent out or buy a property just for the storage of seed phrases, unless you also plan on using it for other things.
The same reasoning can also be applied to credit/debit cards, leather wallets, and other "containers" of money: people who have or use them in public are clearly not that poor. Yet, we rarely see people being attacked just after paying at the checkout of a grocery store.
Because they have grown to be very common in modern society. Especially the usage of Credit Cards today, they're more viewed as something that's holding debt to the banks than a status symbol. Perhaps 70 years ago when the first Credit Cards were issued to important clients, they were good targets for robberies. Currently, no. Credit Card holders usually have more debt than wealth.
That doesn't really matter because credit card fraud is still a very real thing and they will not only drain all the money in your cards but also max out your credit limit as well.