Today, cloud storage and digital records are trending, threatening the safe-deposit box from joining the list of stuff that will disappear soon. However, you should not be too quick to assume the vault is a thing of the past yet. You are still required to produce particular original documents instead of photocopies or digital scans. You also can't yet digitalize some valuables that should be protected from the possibility of loss or theft. Safe-deposit boxes have served as a reliable way to keep valuables and original documents, providing more protection than a home safe. Read on for the 10 best things to keep in a safe deposit box.
10. Social Security Card
If your Social Security number falls into the hands of an identity thief, it could be the beginning of unending issues. You will be forced to freeze accounts, file disputes, and keep an eye on credit reports for any signs of financial fraud. According to Kiplinger, you should never keep a Social Security card in your wallet in case it is stolen or lost. It's best to put the card in a bank vault and memorize the number if you need to fill out routine paperwork.
9. Birth, Death, Divorce, and Marriage Certificates
Essential records that you hardly require and are challenging to replace are top candidates for a safe-deposit box. Some of these records include birth certificates, marriage certificates, death certificates, divorce certificates, and adoption documents. These documents are very hard to replace if destroyed or lost, often needing you to give proof that you are eligible for copies. You will need to pay a certain amount of cash and stay for weeks without getting the documents. These certificates are among the best things to put in a vault box to avoid all this hassle.
8. Business Contracts
Business partnerships, including limited liability partnerships and other agreements, are mostly in the form of written contracts. In certain situations, the original contract serves as the only remaining record to show a formed partnership. Although most businesses with an office have a black book with a ledger of the important documents, you should consider storing the original documents and contacts in a safe-deposit box to ensure the documents remain well secured. For armed forces members, they should also consider keeping important documents such as the DD Form 214 in a safe-deposit vault.
Jewelry can be significantly costly and valuable depending on the material they are made of. For the jewelry you wear regularly, you don't need to keep it in a safe-deposit vault that you can only access during the normal operating hours of the bank. Keep the jewelry you wear every day in a home safe. However, the expensive jewelry that you rarely wear or inherit should be kept in a bank vault. Pick it up during a special occasion and put it back after the event.
6. Household Photos
You have probably backed up your recent photographs in the cloud, so they are secure even if you lose your phone. Nonetheless, what about your memorable old pictures of your childhood life and old relatives? According to Weareatticus.com, like other valuable documents, it would be better to keep these photographs with valuable memories in a safe-deposit box.
5. Property, Real Estate, or Home Records
Purchasing and selling a house often requires the transfer of particular documents. These documents include; title deeds, title surveys, property surveys, settlement documents, original drawings, blueprints, or architectural graphics. A home or real estate is one of the biggest assets a person or household owns. To ensure the absolute safety of your property documents, it's best to keep these records in a safe-deposit vault in a bank.
4. Car Title
Like the title deed to your home, your vehicle's title is a vital document yet rarely is needed. If you lose it, it can be a massive hassle to replace. This makes it one of the top things you should consider storing in a personal vault. This way, you will find it secure and in good condition at the bank when it's time to cash in the car.
Most people have a special collection throughout their life. Be it the stamp collection left to you by your grandfather, your dad's baseball cards, or the unique, rare coins; these are items that are not worth losing. Because they are hard to replace, collectibles are among the best things to keep in a safe-deposit box. You should keep these rare and valuable items in a vault.
2. Insurance Home Inventory
When it comes to insurance, it's an excellent move to have an inventory of all the belongings in your home safely stored in a safe-deposit box. However, in case of a disaster strikes, the insurance home inventory will not help when it comes to filing insurance claims. Keeping an insurance home inventory at home will not help you if a tornado flattens the house or burns down. To be safe, you should keep the inventory in a safe-deposit vault and supplement the written inventories with visuals, including pictures and videos.
1. Bond And Stock Certificates
Today, purchasing and selling bonds and stocks involves electronic digital transfer. However, it wasn't so long when bonds and stock processes involved physical paper certificates. Most Americans, particularly those who own some securities for years, only have printed certificates as proof of ownership of the bonds and stocks. These certificates need a prolonged process to replace and are often targeted for fraud or theft. Hence, storing them in a safe-deposit vault is the best.
These are the 10 best things to keep in a safe-deposit box. An important thing to keep in mind is to keep an up-to-date inventory of what is in the safe deposit vault outside the safe. This will ensure that if the vault ever becomes damaged in a natural disaster, you will know what you have lost to replace them or file an insurance claim. According to The New York Times, you should check your vault regularly to ensure everything in it is intact.
Written by Dana Hanson
Read more posts by Dana Hanson