Are your personal documents and financial papers stored in a safe place in case of an emergency?
In 2018 alone there have been volcano eruptions in Hawaii, fires in the West, tornados in various parts of the country and earthquakes in California and Alaska. Communities still recovering from last year's hurricane season are preparing again for this year. In addition, there are the more isolated risks of home fires and flashfloods.
Home Inventory List
Insurance companies recommend making a list of your possessions. A good starting place is the sample home inventory list form is available at rmiia.org. This form already has the main items found in most homes listed and a place for a description, where bought and make/model/serial number. For big-ticket items, attach any sales receipts and appraisals to the list.
Pictures and/or video of the items in your house is also helpful. This can help if you are filing insurance claims. Keep one copy of your inventory list in your home in a lockable, fireproof file box and keep another in a safe deposit box or another secure location.
Documents to Keep in a Lockable, Fireproof Box at Home
Place important documents (or copies) in lockable box that is small and accessible enough to grab in a hurry. You may also want to send a copy of some of this information to an out-of-town friend or relative. The items listed below (or copies of them) should be in the box.
- your household inventory list and video
- a list of emergency contacts, including family members who live outside your area
- copies of current prescriptions
- health insurance cards or information
- policy numbers for auto, flood, renter's or homeowner's insurance, and a list of telephone numbers of your insurance companies
- a list of phone numbers or email addresses of your creditors, financial institutions, landlords and utility companies
- a list of bank, loan, credit card, mortgage, lease and investment account numbers
- backups of financial data you keep on your computer
- an extra set of keys for your house and car
- the key to your safe deposit box
- a small amount of cash or traveler's checks. ATMs or financial institutions may be closed.
- copies of important financial and family records-or notes about where they are-including deeds, titles, wills, birth and marriage certificates, passports, Social Security cards. It is best to keep the originals of these documents in a safe deposit box or some other location. If you have a will, ask your attorney to keep the original document.
Documents to Store Offsite
One of the safest places to store original documents is a bank safe deposit box (copies of the documents can be kept at home). A safe deposit box is a locked metal container stored in a vault within a bank.
These boxes involve two sets of keys: one that stays with the bank and one that goes to the owner of the box. Both keys are needed to open the box.
The smallest boxes are usually 2 inches deep, 5 inches wide and 12 inches long. This size box rents for $15 to $35 a year. Larger boxes are available for a higher price.
The Federal Trade Commission's Office of Consumer Information recommends the following original documents be stored in a bank safe deposit box:
- deeds, titles and other ownership records for your home, cars, RVs and/or boats
- birth certificates, naturalization papers and Social Security cards
- marriage license/divorce papers and child custody papers
- passports and military papers (If you need these regularly, you could place the originals in your fireproof box and a copy in your safe deposit box)
- trust agreements, living wills, powers of attorney, and health care powers of attorney
- a copy of your will
- insurance policies
- home improvement records
- household inventory documentation including appraisals of expensive jewelry and heirlooms
- credit, lease and other financial and payment agreements
Taking these steps before a disaster will help mitigate the financial losses following an emergency.