You might be under the impression that having a safe deposit box at your bank is the only kind of safe that you need, but the truth of the matter is that there are some things that you’d be better off keeping in a safe inside of your own home. One of the biggest reasons for this is that the contents of your safe deposit box might not be completely insured while any items that you keep in a safe inside of your home will more than likely be covered by your insurance plan.
Safe and Sound
It’s best that you keep your property insurance policies as well as the contact information for your agent inside your home safe so that you can have quick access to it if your home ever suffers from any type of damage. You should also keep all original birth certificates and passports in your home safe since they can be frustrating to replace. Now you won’t have to worry about making a stop at the bank before going on vacation out of the country in order to pick up your passport.
Something else that should be kept in your home safe is an up-to-date list of prescription medications, family physicians and all of the contact information for the pharmacies that you use. While you might be tempted to put digital copies of irreplaceable family photos inside of a fireproof safe, this is actually a bad idea since most fireproof safes aren’t built to withstand any humidity that might be created during a fire, humidity that can potentially damage stored data and media. In this case it’s best that you buy a separate data/media safe.
If you don’t want to get rid of your safe deposit box, you can keep the keys to it inside of your home safe, which is an especially good idea if you have any valuables stored in your safe deposit box. All of your vital documents regarding retirement plans, investments and bank accounts also belong in a home safe.
Type of Safe
As far as the type of safe that you should get, look for those that have a high Underwriter Laboratory burglar rating as well as a high fire rating. Experts also recommend that you avoid using a floor safe as a fireproof safe. The reason for this is that even though five sides of the safe are protected by concrete, a majority of floor safes aren’t built to withstand the heat of a fire.
Many homeowners are tempted to get a wall safe, but the main issue with wall safes is that they can easily be removed from the wall without being broken into by burglars. So even though your valuables are inside of the safe, they’ve still technically been stolen since they are no longer in your possession.