If you’d like to keep your important papers and small valuables away from burglars, fire or natural disaster, here are four questions you can ask yourself to determine whether you should store them in a bank safety deposit box, an in-home safe, or both.
- How valuable are your items?
If items are not replaceable or very valuable, such as expensive jewelry or special documents, you’ll want to keep them in a bank safe. If they are not as valuable or can be easily replaced, an in-home safe is probably good enough.
- How often do you need these items?
If you only use items, such as fine jewelry, on special occasions, a bank safe may work well, but if you use them nearly every day or at least once a week, a bank safe would be inconvenient and a good in-home safe may be a better idea.
- Will you be away from home for an extended period of time?
If you’re planning to be away from home for an extended period of time, be sure to put all of your valuables in a bank safe. If you’re gone for a weekend or a couple days, you probably don’t need to go to that length, and an in-home safe will work fine.
- How secure is your in-home safe?
If you use an in-home safe, make sure it has a tool and torch resistant rating of 30 minutes or more (TL-30/TR-30), is too heavy for a burglar to carry or is bolted to the floor or home structure. If your safe doesn’t meet these requirements, you may want to keep your valuables in the bank safe instead.
If you need advice about where to store your specific valuables, please do not hesitate to reach out to Gulfshore Insurance.
Andrea Pelletier, CPRIA, CPIA is Client Advisor and Partner at Gulfshore Insurance specializing in Private Risk Services. Andrea works with successful individuals and their families on creating and customizing package insurance solutions in the areas of luxury homes, car collections, jewelry, fine arts, watercraft, and personal excess liability. Comments and questions are welcome at firstname.lastname@example.org