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 assist in determining 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 jewellery or special documents, you may want to keep them in a bank safe. If they are not as valuable or can be easily replaced, an in-home safe maybe good enough.
How often do you need these items?
If you only use items, such as fine jewellery, 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 may work fine.
How secure is your in-home safe?
If you use an in-home safe, make sure it is a cash rated safe, designed to protect valuable items such as jewellery. It should also be bolted to the floor or home structure and located in a room covered by the security alarm.
If you need advice about where to store your specific valuables, contact your broker today.