These include birth certificates, death certificates, marriage certificates and divorce certificates. Vital records that are rarely needed but a hassle to replace are prime candidates for your safe deposit box. Situations like that complicate your ability to retrieve important documents or items when you need them.īirth, marriage, divorce and death certificates For example, the coronavirus pandemic reduced operating hours for some bank branches, and limited access or required appointments for in-branch services, such as access to safe deposit boxes. On the other hand, access to your safe deposit box can be limited, more so during emergencies. Home safes are more susceptible to fire and water damage, not to mention theft, than bank safe deposit boxes, Reynolds said. Plus, some valuables simply can’t be digitized.Ī safe installed in your home is one alternative, but these devices aren't foolproof, said Luke Reynolds, chief of the Federal Deposit Insurance Corporation’s Outreach & Program Development Section. There likely will be times when you’ll need to be able to produce certain original documents (including ones that have a raised seal) rather than digital scans or photocopies. Don’t rush to declare the safe deposit box a relic of the past just yet, though many banks are eliminating them (in some communities, private enterprise is stepping in).
