The Club PUBlication 01/23/2024

HOW TO STORE KEY DOCUMENTS
RECORDS PROTECTION
By KATE ASHFORD • NerdWallet

TORNADO DAMAGE IN CLARKSVILLE, TENNESSEE, ON DEC. 9 2023. CONSIDER WHAT RECORDS YOU WOULD NEED TO ACESS IF A DISASTER STRIKES.

​Floods, fires, historic storms — severe weather events are on the rise. If your home was hit by high water or a wildfire, would your important papers be safe?

"Unfortunately, I've had clients who've been victims of fires, flooding, hurricanes," said Sev Tamayo, an agent with Goosehead Insurance in Florida. "Some of them were prepared and some of them weren't."

Don't be unprepared. Here's what you need to do to protect your important documents.

The most important items to keep in a safe place are things that are difficult to replicate, which includes documents that prove identity, legal process or ownership.

If you would have to call a government agency to process a replacement, you probably want to store it somewhere where it can stay damage free.

You should also consider what you would need to access if a disaster strikes.

Here are some items to consider, according to the Federal Emergency Management Agency:
​
* Birth, adoption, death, marriage and divorce certificates.
* Passports, green cards and Social Security cards.
* Property documents pertaining to your home or rental properties,         mortgage or lease, and vehicles.
* Pet ownership paperwork.
* Paper stock and bond certificates.
* Military discharge papers.
*Health records, health insurance information and disabilities                     documentation.
* Estate planning documents (powers of attorney, wills, advance                  directives and trust agreements).
*Property insurance documents, including policy numbers and                   declarations pages.
* Tax records.
*Financial statements (loans, credit cards, banks, retirement accounts    and investment accounts), as well as income records (pay stubs and      government benefits).
* Copies of driver's licenses and other IDs, health insurance cards and credit cards.
*  Family photos or heirlooms.

"It's also a good idea to keep scans of your critical documents, as well as backups of all your computer files on a storage device at a separate location, or in the cloud," said Pete Duncanson of Service- Master Restore, a restoration service company.

In some cases, a copy of a document will suffice in an emergency. This doesn't mean you shouldn't keep the original — but if you lose the original, you may be able to get by with your digital copy.

If you need to file an insurance claim, your insurer will need proof of what you owned.

Keeping a record of your things is tedious — but you probably have a smartphone with a camera.

"Start from the front door, turn on the video camera, take a quick two-minute walk around your house," Tamayo said. "Save it on the cloud."
Do this once a year. Let your insurance renewal be your cue, or set a calendar reminder — and refresh it when you've made a major purchase or renovation.

Store important documents in a container that makes the most sense for your particular risks with an eye toward preparing for the unexpected.

Here are some options:
* Fireproof safe: You can get a fireproof safe box for under $50, but keep in mind that they come in a variety of sizes and temperature ratings. Some are waterproof.
* Safe-deposit box: A safe-deposit box at a bank can weather a lot of        events. But don't put anything there that you might need in a hurry         —  such as a passport for a last-minute trip.
* Plastic bin: At the very least, you can put important documents in a         watertight plastic bin on a high shelf.
* Fridge or freezer: Putting your documents in a plastic zip-close bag in     your refrigerator or freezer can also protect them, although it's not a     long-term solution.