Nov 04
Tip for Safekeeping of Valuables
The recent natural disasters leave many of us thinking about how to protect our most valuable documents. Banks aren't completely disaster-proof, but they're usually far safer than one's private home. So it's worth renting a fire-retardant safe deposit box to store the following items:
Copy of your will Copy of insurance policies Titles to your house and cars Detailed list of bank and brokerage accounts, CDs and credit cards Marriage license / Divorce decree Expensive, rarely-worn jewelry Birth certificates Family heirlooms Stock and bond certificates
For additional protection: Place these documents inside ziplock bags (anti-flood), and ask your homeowner insurance agent about a 'personal-articles floater' to your policy.
Comments
Beware that when you store anything in a plastic bag or other container and place it in a safe deposit box or home safe, it is likely that the plastic will melt and destroy any paper documents. Fire rating of either location does not mean that the temperature will not quickly get close to the burn point of paper, about 350F, within the rating period. Better advice is to pick a safe deposit box bank or home safe location that will not flood or be doused by water in case of fire fighting efforts.