A while back we discussed the considerations and advantages of owning a
fire-proof safe and renting a safe deposit box at a financial institution. Below are some tips on what items to store in each.
In general, it's recommended to store items and documents in your fireproof safe that you might require immediate access to. Here are a few suggestions:
- Birth certificates and passports
- Insurance policies and estate-planning documents (your lawyer should also have copies.)
- Tax returns
- Documents pertaining to credit card and banking information and online passwords
- Memory cards or an external hard drive of pictures and scans of important documents (if your save is rated high enough to protect digital media)
- A copy of your home inventory
In your safe deposit box, it’s recommended to store items that are not replaceable and are not necessary to keep on hand. Here are a few suggestions of what to keep in your safe deposit box:
- Precious jewelry
- Saving bonds or stock certificates
- Insurance policies and estate-planning documents (your lawyer should also have copies.)
- Memory cards or an external hard drive of pictures and scans of important documents
- A copy of your home inventory
At Gibb Insurance we believe the more you plan for a disaster, the less it will impact your life. When it comes to keeping your valuables safe from theft or fire, redundancy and good insurance coverage is key. To have both a highly rated fire proof safe and a safe deposit box is the best approach to protect your valuables. It’s best to keep original documents in a safe deposit box and copies in your home safe.
It’s important to note that your valuables wherever they might be stored, may not be covered in your home insurance policy. Make a point to discuss with your insurance broker items of value that you own to determine if you require additional insurance.
If you have any questions about your home insurance policy, we’d be happy to hear from you. 519-736-8228