Many people use safety deposit boxes to store valuables and important personal information. Many people though are unaware of the fact that during a disaster banks can not be held liable for the loss of the contents in a safety deposit box. There is also the fact to consider that given the state of the economy and with numerous bank failures occurring, you may need to take additional precautions for the storage of your important papers and valuables. There are some simple steps you can take to protect valuables and information in a safety deposit box.
Steps to Protect Safety Deposit Box Contents
1. Keep a written record of all serial and identification numbers for any items kept in a safety deposit box.
2. Keep a photographic record of all items stored in your safety deposit box if at all possible.
3. Keep a written list of all the contents in an alternate place for easy reference in the event of a loss of the contents during a disaster.
4. Consider having the items stored in a safety deposit box listed on your homeowner’s insurance policy as additional proof of the contents.
5. Consider taking out separate or additional insurance on the contents of your safety deposit box.
Having a safety deposit box can be a good thing. Taking the steps to make sure the contents are properly protected is an even better thing.
Staying above the water line!
Riverwalker
Saturday, April 4, 2009
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4 comments:
Very good advice, my friend!
To: HermitJim
Since most safety deposit boxes are anonymous, if you don't have some sort of independent and verifiable source for the contents you could lose it all. Thanks Jim.
RW
Great blog riverwalker
I would only add that during a banking "holiday" or some other such bank mandate, safe deposit boxes will likely be off limits for some period of time. I would recommend additional document/photo/etc sets secured in multiple places.
To: doctorzero
Excellent points! Thanks.
RW
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